Highland sign for Boston Hilton

Highland Hospitality Corporation has announced the signing of a definitive agreement to acquire the 385-room Hilton Boston Back Bay hotel for $110.0
million, or approximately $286,000 per room.  The Company intends to close on
this acquisition this week, 24th October and James L. Francis, Highland’s President and CEO, stated, “We are pleased to
announce our first acquisition subsequent to our recent concurrent equity
offering.  The Hilton Boston Back Bay property is well-located in a high
barrier-to-entry market.  We believe this hotel will produce immediate returns
for our shareholders and further strengthen the performance of our hotel
portfolio.”
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