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Ashford Trust buys hotel Fremont Marriott Silicon Valley

Following an estimated 50 million dollars (about €37 million) transaction, the group Ashford Hospitality Trust acquires the Fremont Marriott Silicon Valley and its 357 rooms, located near San Jose.

Ashford Hospitality Trust, announced today it reached a definitive agreement to acquire the 357-room Fremont Marriott Silicon Valley hotel near San Jose. Located in the famous Silicon Valley in California, the hotel underwent renovation works in 2013 and also features flexible meeting areas. Negotiations led to an agreement for 50 million US Dollars, enabling the group Ashford to takeover the Marriott property.

As of January 1, 2014, Marriott was the 3rd World hotel group by number of rooms, with 653,719 rooms in 3,783 units according to the world rankings of MKG Hospitality (read article).
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