Host Marriott Sells Six Hotels

The disposals yield $223 million, which will be used to buy other properties and repay debt.
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Host Marriott

(HMT)

Friday said today it had sold six hotels for $223 million and will use the money to invest in other properties and repay debt.

The six hotels sold include the Albuquerque Marriott, the Bethesda Marriott, the Hartford Marriott Farmington, the Salt Lake City Marriott, the Tampa Marriott Westshore and the Torrance Marriott.

Maryland-based Host Marriott said the hotels were sold in three separate transactions that closed in late December and early January.

The sales will result in a gain in excess of $45 million.

Shares closed at $16.45 Thursday.