Watermark Lodging Trust Said to Explore Options Including a Sale

Watermark Lodging Trust Inc., a Chicago-based real estate investment trust that owns hotels across the U.S., is exploring options including a sale of itself, according to people with knowledge of the matter.

The company, led by Chief Executive Officer Michael Medzigian, is working with Morgan Stanley to solicit interest from potential suitors, said the people, who requested anonymity because the talks are private.

A representative for Watermark didn’t immediately respond to a request for comment. A Morgan Stanley representative declined to comment.

Watermark owns a portfolio encompassing roughly 8,880 rooms across 28 lodging properties, including the Ritz-Carlton Key ...