Regal to sell 28 U.S. properties

LONDON -- Millennium & Copthorne Hotels, a British company, reached an agreement with Hong Kong's Regal Hotels International to purchase 28 Regal hotels in the U.S. for about $640 million.

Millennium & Copthorne will wholly own Regal's U.S. operations, though some of the hotels will be managed by third parties.

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