Host Hotels & Resorts, Inc. Announces the Sale of the San Francisco Airport Marriott and Provides a Summary of the Recently Announced Balance Sheet Transactions
BETHESDA, Md., March 28, 2012 /PRNewswire/ –?Host Hotels & Resorts, Inc. (NYSE: HST) today announced that on March 23, 2012, Host Hotels & Resorts, L.P. (“Host LP”) closed on the sale of the San Francisco Airport Marriott in Burlingame, CA.? The hotel is subject to a long-term management agreement with Marriott International, Inc.? Inland American Lodging Group, a wholly owned subsidiary of Inland American Real Estate Trust, Inc., acquired the hotel for a sale price of $108 million plus FF&E reserve of $4.7 million for total proceeds to Host LP of $112.7 million.
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On March 22, 2012, Host LP issued $350 million i…