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Hotel news

Two different hotels made the news this week. The first, the Monticello in Georgetown, traded in an off-market deal so the financials are a secret (but the buyer is the creatively-named Monticello Hotel Owners LLC). Not far away on Wisconsin the Georgetown Inn sold to a group of investors for $34M. One of the principal buyers is the former chairman of Best Western International, Nayen Patel, but they aren't planning on turning the hotel into a chain. [GlobeSt; WBJ]