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HPT Acquires Four Marriott Hotels for $101.5 Mil

NEWTON, MA-Locally-based Hospitality Properties Trust purchases four hotels from Marriott International, Inc. for $101.5 million. The hotels will be leased to a subsidiary of HPT but Marriott will manage them.

By Naomi Grossman | Updated on June 29, 2001

NEWTON, MA-Locally-based Hospitality Properties Trust purchased four hotels from Marriott International Inc. for $101.5 million. The hotels, along with the 31 other hotels the real estate investment trust owns and leases to Marriott, will now be leased to a subsidiary of HPT. Marriott will manage all 35 hotels through 2019.

The four hotels purchased by HPT, which currently owns 228 hotels in 37 states, include a 356-room, resort hotel in Kauai, Hawaii which was opened by Marriott in 1995; a newly developed Courtyard by Marriott with 295 rooms in California; and a 135-room TownePlace Suites hotel and a 114-room SpringHill Suites hotel, both located in Washington State.

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