BET Founder’s Firm to Buy 100 Hotels

Robert Johnson, founder of Black Entertainment Television, said his investment company agreed to pay $1.7 billion to buy 100 hotels from White Lodging Services Corp.

The hotels are mostly under the Marriott name and situated in Indiana, Texas and Illinois, Johnson’s Bethesda, Md., company, RLJ Development, said.

Under the agreement, White Lodging would continue to manage the hotels, which would operate under their current brand names. Merrillville, Ind.-based White Lodging operates hotels under the Courtyard by Marriott and Residence Inn by Marriott names.