08.01.2014 - Marriott sells Edition hotels to Abu Dhabi government investment fund
Bethesda-based Marriott International Inc. is selling three Edition hotels to companies owned by the Abu Dhabi Investment Authority. Marriott has already closed on the sale of its London Edition hotel and says it has binding sales agreements on Edition hotels in Miami Beach and Manhattan, both of which are still under construction. Marriott will get a total of $815 million for the properties, roughly equal to total development costs of all three hotels, it says...............................................Full Article: Source
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