MEMPHIS RFS Hotel Investors, Inc. announced that it has completed the previously announced transaction with Hilton Hotels Corporation whereby RFS has terminated its operating lease and management contract relationships with Hilton. RFS paid Hilton approximately $60 million for the termination of 52 long-term operating lease relationships on hotels earned by RFS. RFS also redeemed 973,684 shares of RFS convertible preferred stock owned by Hilton. (1/4/01)
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