Host Hotels & Resorts, Inc. Announces The Sale Of The Ritz-Carlton, San Francisco
Host Hotels & Resorts, Inc. (NYSE: HST) announced today that the Company sold the 336-room Ritz-Carlton, San Francisco for approximately $161 million to an investment vehicle sponsored by Thayer Lodging Group. The proceeds will be used to fund future acquisitions or for general corporate purposes.
"We are excited to announce this sale at an attractive price. As we have done in the past, we will, from time to time, make opportunistic sales of what we consider to be core assets in target markets for the right price. This brings our total dispositions since the beginning of last year to over $600 million," said Gregory J. Larson, executive vice president and chief financial officer.
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