Hotel Investors Receives Offer: Hotel Investors Corp....
From Times Staff and Wire Reports
Hotel Investors Receives Offer: Hotel Investors Corp. and Hotel Investors Trust said they have received a $61.5-million cash offer for the companies from investor group First West Capital Corp. The companies, whose shares are traded on a paired basis on the NYSE, said the $5-a-share offer would be subject to several conditions, including cooperation with lenders and completion of the deal by the end of the year. Hotel Investors, which has investments or management interests in more than 30 hotels, said a previous agreement to sell interests in 27 hotels to Japanese investors has been suspended pending review of the new offer.
