REBusinessOnline

CONCORD HOSPITALITY SECURES $13.4 MILLION FOR NEW HOTEL

PITTSBURGH — Raleigh, N.C.-based Concord Hospitality Enterprises has received $13.4 million in financing for the construction of a 124-room Courtyard by Marriott hotel in Pittsburgh. Known as Courtyard by Marriott Settlers Ridge, the hotel will be located within the new Settlers Ridge retail development. Both are currently under construction, with completion of the hotel scheduled for spring 2010, in conjunction with the completion of Settlers Ridge. Financing was provided by S&T Bank. Terms of the loan were not disclosed.

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