Host Marriott Corporation
today announced that it has sold six hotels for total proceeds of
approximately $223 million. The six hotels sold include the Albuquerque
Marriott, the Bethesda Marriott, the Hartford Marriott Farmington, the
Salt Lake City Marriott, the Tampa Marriott Westshore and the Torrance
Marriott. The hotels were sold in three separate transactions that closed
in late December and early January. The proceeds will be reinvested in the
purchase of upper-upscale or luxury hotels consistent with the Company’s
target profile, return on investment projects, repayment of debt
obligations, or other corporate purposes. The dispositions will result in
a book gain in excess of $45 million.
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