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Wyndham completes sale of Peachtree City hotel

Wyndham International, Inc. closed on the sale of the Wyndham Peachtree Hotel and Conference Center in Peachtree City to the Thayer Lodging Group.

The sale was one of nine transactions completed by Wyndham, including six hotels to Lone Star Funds and three hotels to Thayer.

Local residents shouldn’t notice any changes at the 250-room Peachtree City hotel, which will continue to operate under the Wyndham name.

In addition to the Peachtree City hotel, the other properties bought for $51.4 million in the deal by Thayer Lodging Group include the 408-room Wyndham Miami Airport and the 311-room Wyndham Colorado Springs, Colo.

Pending lender approval, the sale of the 242-room Wyndham Lisle, Ill. to Thayer Hotel Investors IV is expected to close December 2004. All four assets will remain in the Wyndham brand portfolio pursuant to a long-term management agreement.

Additionally, Wyndham has sold three non-proprietary and three Wyndham-branded assets to Dallas-based Lone Star Funds for an undisclosed price. The six hotels included in the transaction are the 124-room Union Station - A Wyndham Historic Hotel in Nashville, Tenn.; the 147-room Tutwiler - A Wyndham Historic Hotel in Birmingham, Ala.; the 320-room Wyndham Roanoke Airport, Va.; the 148-room Holiday Inn in San Angelo, Texas; the 199-room Radisson Hotel in Dallas; and, the 172-room Holiday Inn Aristocrat Hotel in Dallas.

Wyndham is expected to close on a seventh hotel currently under contract, the Doubletree Hotel in Glenview, Ill., in January. Additionally, all seven assets will continue to be managed by Wyndham pursuant to a newly signed management services agreement, as well as retain their respective brand flags.

Constructed in 1985, the Wyndham Peachtree is Fayette County’s largest and oldest hotel and consistently ranks as one of the most popular meeting and conference centers in the nation.