A 6.6 Billion Dollar Sale Includes Berkeley’s Claremont Hotel and Spa

Orlando based hotel owner CNL announced on late Thursday afternoon that they would take $22.50 per outstanding share of common stock in cash from Morgan Stanley. It is a 6.6 billion dollar deal that will include the Claremont, La Quinta Resort & Club and PGA West in La Quinta, the Grand Wailea Resort Hotel & Spa in Maui, Hawaii, and other well-known resorts. The deal is expected to close in the second quarter of 2007. The deal was noted today on Yahoo Finance.