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Host Hotels: sale of non-core hotels?

Host Hotels & Resorts, a lodging real estate company, could be evaluating the sale of a large portfolio of non-core hotels. The company declined to comment.

Specifics on what properties that would be included in the portfolio are not yet final, but the total value may exceed $2 billion (€1.7 billion).

In March, Host Hotels & Resorts has a stock-market value of $15.5 billion (around €13.4 billion). The company sold some non-core assets, describing such moves as “value-creation initiatives.”

Earlier this year, Host Hotels & Resorts completed the sale of the Key Bridge Marriott in Arlington, Virginia, and in 2017 it sold the Sheraton Indianapolis Hotel at Keystone Crossing for $66 million (€57 million) and the Hilton Melbourne South Wharf for $184 million (€159 million).

Host Hotels & Resorts is reinvesting capital in some of its other hotels like renovations at the San Francisco Marriott Marquis and the Phoenician resort in Scottsdale, Arizona, as well as improvements at the Ritz-Carlton Naples in Florida.

 

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