Investor interest in the hotel industry and deal making is ramping up as the US continues to emerge from the pandemic and the potential for business travel is accelerating.
Lone Star Funds announced Wednesday that a Lone Star affiliate has acquired five luxury and upper upscale hotels from Host Hotels & Resorts for an aggregate purchase price of $551 million, including approximately $11 million for furniture, fixtures, and equipment (FF&E) replacement funds.
The hotels are: The Whitley, A Luxury Collection Hotel, Atlanta Buckhead in Georgia; The Westin Buckhead Atlanta in Georgia; The Westin Los Angeles Airport, located at the Los Angeles International Airport in California; San Ramon Marriott, located in Santa Clara, Calif.; and the Westfields Marriott Washington Dulles, located in Chantilly, Va.
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