Wayland, Ma. based KW Development has announced the disposal of a three hotel portfolio for $71.5 million. The three properties are the 21 room Hotel Tria Best Western Plus, the 180 room Sheraton Four Points, Boston/Logan Airport in Revere, Ma. and the 105 room Best Western at Historic Concord, Ma. The company sold the three hotels to three different buyers without disclosing the terms for each purchase. Robert Karol, President & CEO KW Development said the decision to sell was a difficult one in each case. “They are excellent assets, but the timing was right based on market conditions and for our Investors. We are very proud of what we were able to accomplish at all 3 locations.”
