FAIRFIELD, NJ Prime Hospitality Corp. has completed the sale of its Ft. Lauderdale/Plantation AmeriSuites hotel to Gainesville, GA-based Lauderdale Partners, LLC. The hotel will continue to be operated as an AmeriSuites under a 20-year franchise agreement.
The sale reflects Primes ongoing initiative to divest its hotel real estate while maintaining franchise rights. The company will utilize the proceeds to repurchase stock, retire debt, and/or invest in the growth of its brands. (1/2/01)