This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Host Hotels & Resorts, Inc. Announces Acquisition Of Five Hotels By Its European Joint Venture

BETHESDA, Md., Dec. 3, 2012 /PRNewswire/ -- Host Hotels & Resorts, Inc. (NYSE: HST) today announced that the second fund of the Company's joint venture in Europe, in which the Company holds a 33.4% interest, acquired five hotels from Whitehall comprising 1,733 rooms in two countries for approximately €440 million.  The acquisition price, which represents a significant discount to replacement cost, has been partially funded by a €250 million loan secured by the properties with an interest rate of approximately 4.4%.  The loan is non-recourse to the Company.  The acquisition provides the venture with further brand and geographic diversification by adding hotels in three major submarkets in Paris and supplementing its presence in Amsterdam's city center.  Paris has some of the strongest market fundamentals in Europe with high barriers to entry and historically strong RevPAR growth.  Amsterdam is a key commercial hub in Europe that consistently ranks among the highest RevPAR markets in Europe.

(Logo: )

The five fee simple properties include the 757-room Paris Marriott Rive Gauche Hotel & Conference Center, the 402-room Renaissance Amsterdam Hotel, the 327-room Renaissance Paris La Defense Hotel, the 97-room Renaissance Paris Vendome Hotel, and the 150-room Courtyard Paris La Defense West – Colombes. 

As previously disclosed, the Company has an investment in the two most junior tranches of the mortgage loan secured by these properties.  As part of this transaction, the Company will receive full repayment for its portion of the outstanding mortgage on these hotels in the amount of approximately €62 million. 


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 104 properties in the United States and 15 properties internationally totaling over 64,000 rooms. The Company also holds non-controlling interests in a joint venture in Europe that owns 19 hotels with over 6,100 rooms and a joint venture in Asia that owns one hotel with approximately 300 rooms in Australia and a minority interest in seven hotels with approximately 1,750 rooms in India, two of which recently opened in Bangalore and five that are in various stages of development in two cities. 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

* This press release contains registered trademarks that are the exclusive property of their respective owners.  None of the owners of these trademarks has any responsibility or liability for any information contained in this press release.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,897.56 -14.73 -0.09%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,742.9810 -48.1710 -1.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs