The Hilton Garden Inn in the Howell Place development in north Baton Rouge is set to change hands this month. Interstate Hotels & Resorts says it has a purchase agreement to sell the 131-room hotel to a fund managed by Fairwood Capital. IHR says it will continue to manage the Hilton Garden Inn, which is across from Metro Airport. IHR, the largest independent hotel management company in the U.S., has been squeezed the recession. The company posted a $10.3 million loss in the third quarter. IHR says it will use the proceeds from the Baton Rouge sale to pay down debt.
Howell Place hotel set to change hands
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