Residence Inn Midtown sold

Concord Hospitality Enterprises has sold a portfolio of 19 hotels, including one in Atlanta, to Moody National Cos. for $440 million. The portfolio includes the 78-room Residence Inn Midtown in Atlanta. Raleigh-Durham, N.C.-based Concord Hospitality also said it plans to build $500 million in new hotels as part of its goal to double its portfolio size to 100 owned and managed hotels by 2010.

Atlanta Business Chronicle September 13, 2007