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Host Hotels & Resorts acquires 2, sells 1 property

  • Published by Ozgur Tore

Host Hotels & Resorts, Inc. announced that the company acquired 2 and sold 1 property.

host-hotelsHost Hotels & Resorts, Inc. acquired the 242-room fee-simple b2 miami downtown hotel for $57.5 million. The hotel is located in the heart of Miami's business and financial district within walking distance of the American Airlines Arena and is situated on Biscayne Boulevard across from Bayfront Park, ensuring that the hotel will continue to have unobstructed water views.

The Company's joint venture in Europe, in which the Company holds a 33.4% interest, acquired a 90% ownership interest in the entity that owns the 394-room fee-simple Grand Hotel Esplanade in Berlin. The hotel was acquired for a gross purchase price of €81.0 million. The hotel is located in the west of Berlin, a short walk from the city's leading high-end retail street and strategically situated between the old west of the city and the Mitte district (new center), in proximity to many embassies.

The Company sold the 719-room Tampa Marriott Waterside Hotel & Marina for $199 million.

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