Hotel Investors Receives New Offer: Hotel Investors...
From Times Staff and Wire Reports
Hotel Investors Receives New Offer: Hotel Investors Trust, a real estate investment trust, and Hotel Investors Corp., a hotel management company, whose shares trade together, said they have received an offer from Park Plaza Inc. to buy all of their outstanding shares for about $60 million cash. Park Plaza, an affiliate of EIE International Corp., a Japanese company, had previously agreed to purchase 27 of Hotel Investors’ hotels for $152.2 million. The Los Angeles-based company also said it is weighing a competing takeover offer from First West Capital Corp. The firm also omitted its dividend for the fourth quarter of this year.
