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Rio Rancho Hilton sold as part of package deal.(Business)

The Albuquerque Tribune (Albuquerque, NM)

| October 16, 2000 | COPYRIGHT 2003 Albuquerque Tribune. (Hide copyright information)Copyright

Byline: Realestate By Nancy Salem nsalem@abqtrib.com / 823-3675

IN BRIEF

The 129-room Hilton Garden Inn in Rio Rancho is part of a 10-hotel portfolio Lodgian Inc. sold to Sunstone Hotel Investors Inc. Lodgian, based in Atlanta, said the $132 million sale recently closed. The company said proceeds will be used to pay down its debt.

"This transaction is consistent with Lodgian's strategy of reducing debt by selling hotels, particularly those properties in markets where the company has concerns regarding future business trends," said Robert S. Cole, Lodgian's chief executive officer.

The other hotels are in Alaska, California, Idaho and …

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