FAIRFIELD, NJ- Prime Hospitality Corp. announced today that it has sold a land parcel in the Woodlands area near Houston, TX, for $1.5 million to Metro National Corporation. The sale reflects Primes ongoing strategic initiative to divest real estate and utilize the proceeds to repurchase stock, retire debt and/or invest in the growth of its brands. Prime has now generated $192 million from asset sales to date in 2000. (9/14/00)
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