Host Hotels & Resorts Sells the Atlanta Marriott Marquis
BETHESDA, Md.—Host Hotels & Resorts Inc. announced that on January 11 Host Hotels & Resorts L.P. sold the 1,663-room Atlanta Marriott Marquis in Atlanta, GA for $293 million. READER COMMENTS
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 percent of our total revenues," said Gregory J. Larson , executive vice president, corporate strategy.
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