Host Hotels & Resorts, Inc. Announces the Sale of the Atlanta Marriott Marquis
Host Hotels & Resorts, Inc. (NYSE: HST) today announced that onJanuary 11 Host Hotels & Resorts, L.P. ("Host LP") sold the 1,663-room Atlanta Marriott Marquis inAtlanta, GA for$293 million. The hotel is subject to a long-term management agreement with Marriott International, Inc. The proceeds will be used to fund future acquisitions, pay down debt or for general corporate purposes.
Host Hotels & Resorts, Inc. (NYSE: HST) today announced that onJanuary 11 Host Hotels & Resorts, L.P. ("Host LP") sold the 1,663-room Atlanta Marriott Marquis inAtlanta, GA for$293 million. The hotel is subject to a long-term management agreement with Marriott International, Inc. The proceeds will be used to fund future acquisitions, pay down debt or for general corporate purposes.
"I am excited to report our continued success in executing our asset sale strategy. In the past 12 months, we have sold four hotels for approximately$450 million. This sale meaningfully reduces our overall market presence inAtlanta, which now represents approximately 3% of our total revenues," saidGregory J. Larson, executive vice president, corporate strategy.
About Host Hotels & Resorts
Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 76 properties in the United States and five properties internationally totaling approximately 43,400 rooms. The Company also holds non-controlling interests in seven domestic and one international joint ventures.