Kansas-based Lodging Enterprises, LLC has been sold to American Hotel Income Properties REIT LP , led by Canadian hotel veteran Rob O’Neill of Vancouver, B.C., according to a report from Jones Lang LaSalle’s Hotels & Hospitality Group, which closed the deal.
The purchase of Lodging Enterprises, which owns and operates 32 proprietary branded hotels in 19 states and 24 proprietary branded diners and also owns the Oak Tree Inn and Penny’s Diners brands, is the Canadian REIT’s first acquisition in the United States.
The sale also includes a large development pipeline of hotels under construction and long-term guaranteed room night contracts with three of the largest Class I U.S. freight railroad companies.