Hotel Investors Terminates Sale: Hotel Investors Trust,...
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From Times Staff and Wire Reports
Hotel Investors Terminates Sale: Hotel Investors Trust, a Los Angeles-based real estate investment trust, and its affiliated Hotel Investors Corp. said they had terminated the previously announced agreement for Park Plaza Inc. and EIE International Corp. to purchase 27 hotels from Hotel Investors. Park Plaza has released to Hotel Investors its $4 million in escrow, and special shareholders meetings to consider the deal have been canceled.
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