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| By Jack Hagel, The News & Observer, Raleigh, N.C.McClatchy-Tribune Regional News Dec. 4--CHAPEL HILL -- East West Partners, the Chapel Hill developer behind Meadowmont, East 54 and other mixed-use projects in the Triangle, is getting into the hotel business. The commercial cores of its developments tend to be "a very favorable location for a hotel anchor," said Roger Perry, chairman of East West, in a statement. In the past, East West would have sold land to an independent hotelier. Now, the company will keep ownership and management of lodging assets, Perry said. East West will initially focus on building hotels on its projects in the Carolinas. It also seeks to partner in other developers' projects. The company did not disclose any potential development sites. Staff writer Jack Hagel; Staff writer John Murawski ----- To see more of The News & Observer, or to subscribe to the newspaper, go to http://www.newsobserver.com. Copyright (c) 2008, The News & Observer, Raleigh, N.C. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. |
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