Humphrey Hospitality Trust, Inc. (The Nasdaq National Market: HUMP), a REIT which owns 92 limited service hotels in 19 midwestern and eastern states, today announced the appointment of Cohen & Steers Capital Advisors, LLC (Cohen & Steers) as financial advisor to advise and assist the REIT’s committee of independent directors in exploring various alternatives available to the REIT. As announced on March 29, 2001, the REIT`s board of directors formed the committee to evaluate the information recently received from the lessee of its hotel properties, Humphrey Hospitality Management, Inc., which disclosed that the lessee has incurred and expects to continue to incur, substantial losses from the leasing and operation of the REIT`s hotels.
Cohen & Steers Capital Advisors, LLC is a New York City based investment banking firm that provides financial advisory services to public and private real estate companies.
Humphrey Hospitality Trust, Inc. is a self-advised real estate investment trust specializing in limited-service lodging. More information on Humphrey Hospitality can be found at www.humphreyhospitality.com.