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Article: Marriott International Announces Sale of Four Hotels For $274 Million to New Joint Venture Between Marriott and Blackacre Capital.
- Article from:
- PR Newswire
- Article date:
- September 28, 2000
CopyrightCOPYRIGHT 2000 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Marriott Expects Sales of Hotels and Senior Communities of at Least
$870 Million in 2000
WASHINGTON, Sept. 28 /PRNewswire/ --
Marriott International, Inc. (NYSE: MAR) today announced the sale of the Worthington Renaissance hotel (Fort Worth TX), the Los Angeles Airport Marriott (Los Angeles CA), the Atlanta Marriott Alpharetta (Atlanta GA), and the Frenchman's Reef Marriott Beach Resort (St. Thomas, USVI) to Capital Hotel Investments LLC, a newly formed joint venture between Marriott International and affiliates of Blackacre Capital Management LLC ("Blackacre"), for approximately $274 million.
Marriott International will continue to ...