| We snapped the InterContinental Buckhead this morning to mark its $105M sale to Pebblebrook Hotel Trust of Bethesda, Md. Atlanta's hospitality community had been abuzz about exactly which ?upscale full-service hotel? Pebblebrook would buy in the city since May 25, when it announced it had agreed to acquire one. Last week, Atlanta-based InterContinental Hotels Group and Pebblebrook announced the deal and said InterContinental would continue to manage the 442-room hotel. Using funds from its successful IPO, Pebblebrook paid cash for the high-end hotel. IHG was quick to point out that the hotel, which opened in '04, had a net book value of $83M. |
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