Host Hotels Europe JV buys five hotels for $572 million
(Reuters) - Host Hotels and Resorts (HST.N) said its European joint venture bought five hotels in Paris and Amsterdam from Goldman Sachs' (GS.N) Whitehall unit for about 440 million euros ($572.26 million).
Host Hotels, which holds 33.4 percent stake in the joint venture, said in a statement that the deal was partially funded by a 250 million euro loan.
The five properties include Paris Marriott Rive Gauche Hotel & Conference Center, Renaissance Amsterdam Hotel, Renaissance Paris La Defense Hotel, Renaissance Paris Vendome Hotel and Courtyard Paris La Defense West - Colombes.
Marriott International MAR.N had sold three of these hotels to indirect subsidiaries of Whitehall Street Global Real Estate Limited Partnership 2005 in 2006.
(Reporting by Mridhula Raghavan in Bangalore)
NEW YORK - U.S. stocks finished mostly flat on Thursday as investors paused after a rally in the previous session, though the Dow closed at its second record high in a row. | Video
WASHINGTON - Start-up companies will be able to raise much more capital through certain public stock deals without facing costly regulatory burdens under a proposal announced by U.S. securities regulators on Wednesday.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.