ATLANTA HOTEL BUSINESS. has learned that Buckhead America Corp. recently finalized the sale of three hotels as part of the company s previously reported plan to divest 10 properties in under-performing markets.
On February 20, the company finalized the sale of a Country Hearth Inn in Monroe, GA, which added to the recently completed sales of two other Country Hearth properties in Sikeston, MO and Dexter, MO on February 2 and February 9, respectively.
Buckhead has two other properties under contract, with sales to be finalized shortly. The company has also received interest in another two or three properties that were recently put on the block, according to a spokesperson. However, this brings the total sales activity to only seven or eight hotels. The company reported in January that it would divest 10 properties.
The other properties are actually doing quite well now. We re going to monitor them for the next 30 to 60 days, and if they continue to do well we might not sell, the spokesperson said. (2/22/01) Diana M. Rodriguez