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July 31, 2019  

Starwood Scoops Up 4 Marriott Hotels

Starwood Capital has agreed to buy four all-suites hotels, in Arizona, Georgia and California, for roughly $260 million.The deal values the 1,016-room bundle of Marriott-branded hotels at about $256,000/room. Starwood, of Miami Beach, plans to spend some $30 million on renovations and is likely to convert some of the hotels to new flags.CBRE is brokering the sale for Host Hotels & Resorts. The Bethesda, Md., REIT listed the four properties along...

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