Equity Inns to Purchase Eight Marriott-Branded Hotels

Equity Inns, Inc., the third largest hotel real estate investment trust, has announced that it signed an agreement to acquire a portfolio of eight hotels, with a total of 742-rooms, from InterMountain Management, LLC for approximately $90.5 million, or $122,000 per key.

The hotels in the portfolio include four Residence Inn by Marriott properties, which are located in Spokane, Washington, Shreveport, Louisiana, Albuquerque, New Mexico and Kansas City, Missouri; two Courtyard by Marriott hotels, which are located in Reno, Nevada and Shreveport, Louisiana; a Fairfield Inn and Suites located in Reno, Nevada and a Fairfield Inn located in Shreveport, Louisiana.

The average age of these properties is six years. InterMountain will continue to manage these properties under a three-year performance-based management contract. The transaction was approved by the Company’s Board of Directors and is expected to close by the end of the fourth quarter of 2007.