ALLEGIS &lt;AEG> TO SELL CANADIAN HOTELS
  Allegis Corp said it has created a
  limited partnership to sell selected hotels in Canada to the
  public.
      It said the offering is expected to raise in excess of 350
  mln Canadian dlrs and will be completed by the end of
  September.
      The limited partnership will be similar to the Westin
  Hotels limited partnership completed last year when Allegis
  sold Westin hotels in San Francisco and Chicago. Allegis
  reported a pretax gain of 80.6 mln dlrs as a result of that
  partnership.
     
      An Allegis spokesman said the offerings have been in
  planning stages for a long time and are unrelated to recent
  corporate developments such as the firm's recapitalization plan
  and a threatened takeover by an investor group lead by Coniston
  Partners and the pilots of its United Airlines unit.
      The spokesman said the company has not yet identified which
  of its Canadian hotels will be offered for sale.
      Allegis has 100 pct ownership in Westin hotels in
  Vancouver, Calgary, Ottawa and Toronto, and 100 pct interest in
  Hilton International hotels in Toronto and Montreal. It owns 60
  pct of the Westin in Edmonton.
      Richard Ferris, chairman of Allegis, said in a statement
  the hotel limited partnerships allow the company to convert
  unrecognized asset appreciation into cash.
      As with the proceeds from the earlier limited partnership,
  the money will be used for general corporate needs, the
  spokesman said.
      Merrill Lynch Capital Markets and Wood Gundy will be lead
  underwriters for to the public offering. The limited
  partnership will be offered outside the U.S, Allegis said.
  

