Host Hotels to renovate 17 properties with Marriott’s help

A deal between Marriott International (NASDAQ: MAR) and Host Hotels & Resorts (NYSE: HST) to renovate several of Host’s flagship Marriott properties covers a total of 17 hotels and should increase both the owner’s and manager’s profits for the hotels, Marriott CEO Arne Sorenson said Tuesday. 

Host CEO Jim Risoleo told analysts Friday on its third quarter earnings call that the deal covered the renovation of the San Francisco Marriott Marquis that’s already underway, as well as the New York Marriott Marquis, the Boston Marriott Copley Place, the Orlando World Center Marriott and the Ritz-Carlton Amelia Island in Florida. 

Speaking on Marriott’s third quarter earnings call, Sorenson didn’t specify which other Marriott-managed hotels are included, but we’ve reached out to Marriott and Host for those details and will update this post when we hear back. 

Host agreed to spend an additional $150 million to $200 million in capital investment in the properties during the next…

Read the full story from the Washington Business Journal.

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