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Host Hotels & Resorts, Inc.
HST today announced that on January 11 Host Hotels & Resorts, L.P.
("Host LP") sold the 1,663-room Atlanta Marriott Marquis in Atlanta, 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 in
Atlanta, which now represents approximately 3% of our total revenues," said
Gregory J. Larson, executive vice president, corporate strategy.
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Posted In: NewsAsset Sales
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