DiamondRock sells 3 hotels

In the REIT’s third quarter performance results DiamondRock Hospitality Co., Bethesda, Maryland, revealed that it sold three hotels to Inland American Real Estate Trust Inc., Oak Brook, Illinois, for US$262.5 million.

The three hotel properties include the Griffin Gate Marriott Resort and Spa in Lexington, Kentucky, the Renaissance Waverly in Atlanta and the Renaissance Austin in Austin, Texas.

Despite the sales DiamondRock reported a loss of US$1 million in the third quarter, albeit an improvement from its US$3.5 million loss during the same period in 2010.