Host Hotels & Resorts, Inc. Announces The Acquisition Of The Hyatt Place Waikiki Beach
Host Hotels & Resorts, Inc. (NYSE: HST) announced today that the Company acquired the fee-simple interest in the 426-room Hyatt Place Waikiki Beach inHonolulu, Hawaii for$138.5 millionfrom an affiliate of Chartres Lodging Group, LLC and Morgan Stanley Real Estate Fund VII Global. Kokua Hospitality will continue to manage the hotel subject to a franchise agreement with Hyatt.
ABOUT HOST HOTELS & RESORTS
Host Hotels & Resorts, Inc. is an S&P 500 and Fortune 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 98 properties in the United States and 15 properties internationally totaling approximately 59,000 rooms. The Company also holds non-controlling interests in five joint ventures, including one in Europe that owns 20 hotels with approximately 6,800 rooms and one in Asia that has interests in three hotels in Australia and India. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, Sheraton®, W®, St. Regis®, Le Meridien®, The Luxury Collection®, Hyatt®, Fairmont®, Hilton®, Swissotel®, ibis®, Pullman®, and Novotel® in the operation of properties in over 50 major markets worldwide. For additional information, please visit the Company's website at www.hosthotels.com.
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