Host Hotels & Resorts Announces Purchase of the Westin Europa and Regina By Its European Joint Venture
June 13 2006 - 5:15PM
PR Newswire (US)
BETHESDA, Md., June 13 /PRNewswire-FirstCall/ -- Host Hotels &
Resorts, Inc. (NYSE:HST) today announced that its joint venture in
the Netherlands with Stichting Pensioenfonds ABP, the Dutch pension
fund, and Jasmine Hotels Pte Ltd, an affiliate of GIC Real Estate
Pte Ltd, the real estate investment company of the Government of
Singapore Investment Corporation Pte Ltd, completed the purchase of
The Westin Europa & Regina in Venice, Italy from Starwood
Hotels & Resorts Worldwide, Inc. The 185-room hotel was
deferred from the initial closing of hotels purchased from Starwood
by the joint venture on May 3, 2006 as a result of certain notice
requirements. (Logo:
http://www.newscom.com/cgi-bin/prnh/20060417/HOSTLOGO ) About Host
Hotels & Resorts Host Hotels & Resorts, Inc. is a lodging
real estate company that currently owns or holds controlling
interests in 129 luxury and upper upscale hotel properties
primarily operated under premium brands such as Marriott(R),
Westin(R), Sheraton(R), Ritz-Carlton(R), Hyatt(R), W(R), Four
Seasons(R), St. Regis(R), The Luxury Collection(R), Fairmont(R),
Hilton(R) and Swissotel(R)*. For further information please visit
the Company's website at http://www.hosthotels.com/. * This press
release contains registered trademarks that are the exclusive
property of their respective owners. None of the owners of these
trademarks has any responsibility or liability for any information
contained in this press release. (Note: This press release contains
forward-looking statements within the meaning of federal securities
regulations. These forward-looking statements are identified by
their use of terms and phrases such as "anticipate," "believe,"
"could," "estimate," "expect," "intend," "may," "plan," "predict,"
"project," "will," "continue" and other similar terms and phrases,
including references to assumption and forecasts of future results.
Forward-looking statements are not guarantees of future performance
and involve known and unknown risks, uncertainties and other
factors which may cause the actual results to differ materially
from those anticipated at the time the forward- looking statements
are made. These risks include, but are not limited to: national and
local economic and business conditions, including the potential for
terrorist attacks, that will affect occupancy rates at our hotels
and the demand for hotel products and services; operating risks
associated with the hotel business; risks associated with the level
of our indebtedness and our ability to meet covenants in our debt
agreements; relationships with property managers; our ability to
maintain our properties in a first-class manner, including meeting
capital expenditure requirements; our ability to compete
effectively in areas such as access, location, quality of
accommodations and room rate structures; changes in travel
patterns, taxes and government regulations which influence or
determine wages, prices, construction procedures and costs; our
ability to complete pending acquisitions and dispositions; and our
ability to continue to satisfy complex rules in order for us to
qualify as a Real Estate Investment Trust for federal income tax
purposes and other risks and uncertainties associated with our
business described in the Company's filings with the Securities and
Exchange Commission. Although the Company believes the expectations
reflected in such forward-looking statements are based upon
reasonable assumptions, it can give no assurance that the
expectations will be attained or that any deviation will not be
material. All information in this release is as of June 13, 2006,
and the Company undertakes no obligation to update any
forward-looking statement to conform the statement to actual
results or changes in the Company's expectations.)
http://www.newscom.com/cgi-bin/prnh/20060417/HOSTLOGO
http://photoarchive.ap.org/ DATASOURCE: Host Hotels & Resorts,
Inc. CONTACT: Gregory J. Larson, Senior Vice President,
+1-240-744-5120, or Kevin J. Jacobs, Vice President,
+1-240-744-5212, both of Host Hotels & Resorts, Inc. Web site:
http://www.hosthotels.com/
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