• Host sale

Host Hotels has sold an 89% stake in the Philadelphia Marriott Downtown, to partners Oaktree Capital Management and Clearview Hotel Capital. The complete hotel is valued at USD303.4m, with Host retaining the remaining 11% stake.

Host said the sale is another disposal of non-core assets, bringing its total disposals since the beginning of 2012 to USD1.1bn. Host was the third owner of the hotel in 19 years.
Read the full story here:
http://ir.hosthotels.com/mobile.view?c=60734&v=203&d=1&id=1890153

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