Bass to buy 59 Pritzker hotels

CHICAGO -- The Pritzker family here agreed to sell its interest in 59 Centra and Parkroyal hotels in Australia, New Zealand, the South Pacific and Asia to London-based Bass Hotels & Resorts for $207 million.

The sale of Pritzker's Hale International and the subsidiary Southern Pacific Hotel Corp. included ownership in two hotels with the remaining interests in management, franchise and lease agreements.

Under the deal, Bass will get an interest in 24 hotels in Australia, 13 in New Zealand, eight in the South Pacific and 14 in Asia. Southern Pacific described Parkroyal as an upscale, four-star brand and Centra as a midmarket, three- to four-star brand for business travelers.

The Pritzker family will hold on to its ownership of two Travelodge properties near Sydney, Australia, and plans to transfer ownership of those two properties to other Pritzker subsidiaries.

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