REIT No Longer

PATRIOT AMERICAN RESTRUCTURES In an attempt to pay off its debts, Patriot American Hospitality Inc. has merged into its operating arm, Wyndham International Inc., and changed from a real estate investment trust (REIT) into a tax-paying corporation in March. Patriot founder Paul Nussbaum stepped down as CEO, handing control to Wyndham International CEO James Carreker.

Since its formation in 1991, the Dallas-based trust has become owner or manager of 460 luxury hotels in North America,

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