The Carlyle Group announced on Monday that it acquired an
892-room portfolio of four hotel properties in Northern California. The
Washington-based private equity firm acquired the Crowne Plaza Hotel at the
San Francisco International Airport, the Holiday Inn in northeast Sacramento,
as well as East Bay-area hotels, the Holiday Inn Concord and the Holiday Inn
Walnut Creek hotels. A Carlyle spokeswoman declined to disclose the financial
terms of the transaction. Carlyle said in the announcement that it would
invest about $8 million in capital upgrades at the hotels and hire Prism
Hotels & Resorts to manage the properties.
—John Blakeley
Tags: Carlyle
Group,
hotels
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