Host Hotels & Resorts, Inc. Announces the Sale of the Atlanta Marriott Marquis

Host Hotels & Resorts, Inc. Announces the Sale of the Atlanta Marriott Marquis

PR Newswire

BETHESDA, Md., Jan. 17, 2013

BETHESDA, Md., Jan. 17, 2013 /PRNewswire/ -- Host Hotels & Resorts, Inc.
(NYSE:HST) today announced that on January 11 Host Hotels & Resorts, L.P.
("Host LP") sold the 1,663-room Atlanta Marriott Marquis in Atlanta, GA for
$293 million. The hotel is subject to a long-term management agreement with
Marriott International, Inc. The proceeds will be used to fund future
acquisitions, pay down debt or for general corporate purposes.

(Logo: http://photos.prnewswire.com/prnh/20060417/HOSTLOGO )

"I am excited to report our continued success in executing our asset sale
strategy. In the past 12 months, we have sold four hotels for approximately
$450 million. This sale meaningfully reduces our overall market presence in
Atlanta, which now represents approximately 3% of our total revenues," said
Gregory J. Larson, executive vice president, corporate strategy.

ABOUT HOST HOTELS & RESORTS

Host Hotels & Resorts, Inc. is an S&P 500 and Fortune 500 company and is the
largest lodging real estate investment trust and one of the largest owners of
luxury and upper-upscale hotels. The Company currently owns 103 properties in
the United States and 15 properties internationally totaling over 62,300
rooms. The Company also holds non-controlling interests in a joint venture in
Europe that owns 19 hotels with over 6,100 rooms and a joint venture in Asia
that owns one hotel with approximately 300 rooms in Australia and a minority
interest in seven hotels with approximately 1,750 rooms in India, two of which
recently opened in Bangalore and five that are in various stages of
development in two cities. Guided by a disciplined approach to capital
allocation and aggressive asset management, the Company partners with premium
brands such as Marriott^®, Ritz-Carlton^®, ^ Westin^®, Sheraton^®, W^®, St.
Regis^®, Le Meridien^®, The Luxury Collection^®, Hyatt^®, Fairmont^®, Four
Seasons^®, Hilton^®, Swissotel^®, ibis^®, Pullman^®, and Novotel^®* in the
operation of properties in over 50 major markets worldwide. For additional
information, please visit the Company's website at www.hosthotels.com.

* This press release contains registered trademarks that are the exclusive
property of their respective owners. None of the owners of these trademarks
has any responsibility or liability for any information contained in this
press release.

SOURCE Host Hotels & Resorts, Inc.

Website: http://www.hosthotels.com
Contact: Gregory J. Larson, Executive Vice President, +1-240-744-5120, or Gee
Lingberg, Vice President, +1-240-744-5275
 
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