MeriStar Closes on First Blackstone Portfolio
BETHESDA, MD, February 28, 2006. REIT MeriStar Hospitality Corp. has completed the sale of a portfolio of nine Florida hotels and a golf and tennis club to an affiliate of The Blackstone Group for approximately $367 million.
The properties in the portfolio include two Hilton-branded hotels, a Sheraton, a Best Western, and five non-branded properties. The total number of rooms is 1,948.
Following the announcement of the Florida deal, Blackstone and MeriStar entered into an even bigger transaction with Blackstone agreeing to acquire all of the REIT's remaining assets for $2.6 billion. That deal is expected to close in the second quarter.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
