Host Hotels Sells 89% Stake in Ownership of Philadelphia Marriott Downtown for $270M

Source:  CoStar

Host Hotels & Resorts LP (NYSE: HST) sold an 89% stake in its ownership interest of the Philadelphia Marriott Downtown for $270.03 million, or about $215,000 per room, in a deal that values the hospitality asset at $303.4 million. Oaktree Capital Management LP and Clearview Hospitality Capital LLC will take a controlling interest in the area's largest hotel, with Host retaining the remaining 11% stake. Located in downtown Philadelphia's Market...

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