Another Bethesda-based hotel REIT exploring sale

Bethesda-based Condor Hospitality Trust Inc. (NASDAQ: CDOR) announced Friday it has launched a routine to try “strategic alternatives to raise shareholder value,” including, potentially, a sale, merger, or acquisition.

Condor, a self-administered genuine estate investment trust, owns 16 hotels in 8 states, including comforts franchised to tip brands like Hilton, Marriott International and Intercontinental Hotels Group.

“Having finished a thespian repositioning of a Company over a past 3 years and convention arguably one of a top peculiarity and behaving portfolios of select-service resources in a open hotel REIT space, now is a right time to examination a Company’s vital alternatives to consider how best to continue to emanate value for a shareholders,” Condor CEO Bill Blackham pronounced in a release.

Condor has defended KeyBanc Capital Markets as a financial confidant and McGrath North as a authorised council. It has no skeleton to contend anything some-more about a process…

Read a full story from a Washington Business Journal.

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