Condor Hospitality Trust Closes on Kentucky Comfort Inn Sale

Condor Hospitality Trust said Tuesday it has closed on the sale of the 61-room Comfort Inn, a legacy hotel asset located in Harlan, Kentucky, for $1.9 million.

Since the start of the year, the company has sold three legacy hotel assets for a combined total of $8.6 million and expects to sell four more of the remaining ten legacy properties in the first half of the year, the company said in a press release. An additional property is currently under contract to sell, it added.

Condor plans to use the proceeds from these sales to pay down $90 million in existing debt and acquire additional high-quality, select-service hotels, the company said.

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