Buyout Offer: Hotel Investors Trust, a Woodland...

Buyout Offer: Hotel Investors Trust, a Woodland Hills real estate investment trust that owns 38 hotels, and Hotel Investors Corp. of San Diego, which manages the hotels, did not respond Friday to a $5.25-a-share buyout offer from First West Capital Corp. of Newport Beach. First West on Thursday increased its offer for the firms from $5 a share, but gave a Friday afternoon deadline for acceptance of the bids. First West is bidding against an affiliate of EIE International Corp., a Tokyo company, which has offered $5 a share, or $61 million, for the hotel firms. First West did not say Friday whether it would extend its offer.