MEMPHIS, TN RFS Hotel Investors concluded the sale of the 131-room Hampton Inn in Plano, TX for $5.525 million. Randy Churchey, president/CEO of RFS, noted that sale of this property is consistent with the companys strategy of reducing its investment in limited-service hotels. RFS currently receives 24% of its EBITDA from limited-service hotels, down from approximately 43% four years ago, Churchey said. The sales price results in a loss of approximately $1 million, which will be recorded in the 2000 financial statements. (2/21/01)
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