Host Hotels & Resorts, Inc. Announces The Sale Of The Four Seasons Hotel Atlanta
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.
"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.
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SOURCE Host Hotels & Resorts, Inc.