Prime Hospitality Corp.
(NYSE: PDQ) announced today that it has completed the sale of its Dallas/West
End AmeriSuites hotel to Florida Capital Hotel Partners (Dallas) Ltd. The
hotel will continue to be managed by Prime as an AmeriSuites under a 20-year
The 149-unit hotel is located at 1907 North Lamar Street in Dallas, TX and
has been open since October 1997. The hotel is in the West End section of
downtown Dallas which is known for its shopping, dining, arts and
entertainment facilities. It is also within walking distance of the Dallas
Convention Center and Reunion Arena.
The sale reflects Prime`s ongoing strategic initiative to divest its hotel
real estate while maintaining franchise rights. Prime has generated
$31 million this year from asset sales and almost $250 million in the past two
years. Prime also has several other assets currently under contract or in