Host Marriott Corporation Sells the New York East Side Marriott For $191.3 Million

Industry: LEISURE/TRAVEL/HOTELS

BETHESDA, Md., April 21 /PRNewswire/ -- Host Marriott Corporation (NYSE: HMT) announced today it has sold its New York East Side Marriott Hotel for total consideration of $191.3 million.

Christopher J. Nassetta, Executive Vice President and Chief Operating Officer, stated, "The New York East Side Marriott sale represents a significant profit opportunity for Host Marriott and its shareholders. It also demonstrates the company's opportunistic approach to hotel real estate ownership. In cases where the economics make sense, we will continue to consider select sales of our non-core assets."

The 662 room New York East Side Marriott is located on the prestigious East Side of midtown...