MEMPHIS, TN— RFS Hotel Investors has concluded the sale of the 135-room Comfort Inn in Farmington Hills, MI for $6.6 million. The sale is in line with the company’s stated strategy of reducing its investment in limited service hotels in smaller markets. According to company executives, the sale price results in a gain of $750,000, and proceeds from the sale will be used to reduce borrowings under RFS’ line of credit. With the sale, RFS now receives 22% of its EBITDA from limited service hotels, down from 43% four years ago, the company said.
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