ARLINGTON HEIGHTS, IL— Arlington Hospitality Inc. has sold an AmeriHost Inn hotel located in Newark, OH through a joint venture in which it has a minority ownership interest. The 72-room property will remain an AmeriHost Inn hotel as the buyer has executed a franchise agreement with AmeriHost Franchise Systems, a subsidiary of Cendant Corp. The transaction represents the third hotel sold by the company in the 2003 first quarter as part of Arlington Hospitality’s continuing program to develop and sell AmeriHost Inn-branded hotels. Terms of the sale were not disclosed. In addition to its share of the proceeds from the sale, the company will receive continuing cash flow related to this hotel from Cendant pursuant to the franchise royalty sharing agreement executed in connection with the sale of the AmeriHost Inn brand name and franchising rights by the company to Cendant in September 2000.
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