Press release from PR Newswire
Host Hotels & Resorts, Inc. Announces The Sale Of The Four Seasons Hotel Atlanta
Thursday, November 21, 2013
Host Hotels & Resorts, Inc. Announces The Sale Of The Four Seasons Hotel Atlanta08:30 EST Thursday, November 21, 2013
BETHESDA, Md., Nov. 21, 2013 /PRNewswire/ -- Host Hotels & Resorts, Inc. (NYSE: HST) announced today that the Company sold the 244-room Four Seasons Hotel Atlanta and the associated office space for $62 million. The proceeds will be used for general corporate purposes.
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"We are excited to announce this transaction. This sale continues to reduce our market presence in our non-target markets and brings our total dispositions since the beginning of last year to over $750 million," said Struan B. Robertson, executive vice president and chief investment officer.
ABOUT HOST HOTELS & RESORTS
Host Hotels & Resorts, Inc. is an S&P 500 and Fortune 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 101 properties in the United States and 15 properties internationally totaling approximately 62,000 rooms. The Company also holds non-controlling interests in a joint venture in Europe that owns 19 hotels with approximately 6,400 rooms and a joint venture in Asia that owns one hotel in Australia and a minority interest in two hotels in India. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, Sheraton®, W®, St. Regis®, Le Meridien®, The Luxury Collection®, Hyatt®, Fairmont®, Four Seasons®, Hilton®, Swissotel®, ibis®, Pullman®, and Novotel® in the operation of properties in over 50 major markets worldwide. For additional information, please visit the Company's website at 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.
SOURCE Host Hotels & Resorts, Inc.
For further information: Gee Lingberg, Vice President, 240.744.5275