Boykin Lodging Company (NYSE: BOY), a hotel real estate investment trust, today announced the sale of the Holiday Inn Lake Norman in Cornelius, North Carolina, for a price of $2.55 million. Net proceeds from the sale were used to pay down outstanding debt.
The Company stated that the sale is consistent with its strategy of divesting non-core assets from its portfolio.
Boykin Lodging Company is a real estate investment trust that focuses on the ownership of full-service, upscale commercial and resort hotels. The Company currently owns 30 hotels containing a total of 8,668 rooms located in 18 states, and operating under such internationally known brands as Doubletree, Marriott, Hilton, Radisson, Embassy Suites, and Courtyard by Marriott among others. For more information about Boykin Lodging Company, visit the Company`s web site at www.boykinlodging.com.
This news release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 regarding the Company. Except for historical information, the matters discussed in this release are forward-looking statements that involve risks and uncertainties that may cause results to differ materially from those set forth in those statements. Among other things, factors that could cause actual results to differ materially from those expressed in such forward-looking statements include financial performance, real estate conditions, execution of hotel acquisition programs, changes in local or national economic conditions, and other similar variables and other matters disclosed in the Company`s filings with the SEC, which can be found on the SEC`s website at http://www.sec.gov.