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Host Hotels Sells 89% Stake in Ownership of Philadelphia Marriott Downtown for $270M

Oaktree, Clearview JV Take Control of 1,400 Rooms on Market Street
By Justin Sumner
CoStar News
January 14, 2014 | 4:54 P.M.

Host Hotels & Resorts LP (NYSE: HST) sold an 89% stake in its ownership interest of the Philadelphia Marriott Downtown for $270.03 million, or about $215,000 per room, in a deal that values the hospitality asset at $303.4 million.

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News | Host Hotels Sells 89% Stake in Ownership of Philadelphia Marriott Downtown for $270M