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Host Hotels Europe JV buys five hotels for $572 million
December 3, 2012 / 2:30 PM / in 5 years

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

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