New York Marriott Marquis hotel is sold to Host Hotels & Resorts

Host Hotels & Resorts has acquired the New York Marriott Marquis hotel for $19.9 million. The sale was completed under a lease agreement Host made with owner Empire State Development Corp. in 1998, which included the option to purchase the 1,949-room property for a fixed amount as early as 2013. Read the HotelsMag.com story here.

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