Host Hotels & Resorts Announces the Completion of Three Asset Sales
March 01 2007 - 6:09PM
PR Newswire (US)
BETHESDA, Md., March 1 /PRNewswire-FirstCall/ -- Host Hotels &
Resorts, Inc. (NYSE:HST) today announced that it has completed the
sales of three hotels, the Fairview Park Marriott in Falls Church,
VA, the Raleigh Marriott Crabtree Valley in Raleigh, NC and the
Miami Airport Marriott in Miami, FL. The sale of the Fairview Park
Marriott closed on February 23, 2007, and the sales of the Raleigh
Marriott Crabtree Valley and the Miami Airport Marriott closed on
February 27, 2007. The total gross sales proceeds from the three
sales were approximately $214 million, and the Company will record
a gain from the sales of approximately $118 million in the first
quarter. (Logo:
http://www.newscom.com/cgi-bin/prnh/20060417/HOSTLOGO ) About Host
Hotels & Resorts Host Hotels & Resorts, Inc. is the largest
lodging real estate investment trust and one of the largest owners
of luxury and upper upscale hotels. The Company currently owns 121
properties with approximately 64,500 rooms, and also holds a
minority interest in a joint venture that owns seven hotels in
Europe with approximately 2,700 rooms. Guided by a disciplined
approach to capital allocation and aggressive asset management, the
Company partners with premium brands such as Marriott(R),
Ritz-Carlton(R), Westin(R), Sheraton(R), W(R), St. Regis(R), The
Luxury Collection(R), Hyatt(R), Fairmont(R), Four Seasons(R),
Hilton(R) and Swissotel(R)* in the operation of properties in over
50 major markets worldwide. For additional 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.
http://www.newscom.com/cgi-bin/prnh/20060417/HOSTLOGO
http://photoarchive.ap.org/ DATASOURCE: Host Hotels & Resorts,
Inc. CONTACT: Kevin J. Jacobs of Host Hotels & Resorts, Inc.,
+1-240-744-5212 Web site: http://www.hosthotels.com/
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