Dec 3 Host Hotels and Resorts said its European joint venture bought five hotels in Paris and Amsterdam from Goldman Sachs' Whitehall unit for about 440 million euros ($572.26 million).
Host Hotels, which holds 33.4 percent stake in the joint venture, said in a statement that the deal was partially funded by a 250 million euro loan.
The five properties include Paris Marriott Rive Gauche Hotel & Conference Center, Renaissance Amsterdam Hotel, Renaissance Paris La Defense Hotel, Renaissance Paris Vendome Hotel and Courtyard Paris La Defense West - Colombes.
Marriott International had sold three of these hotels to indirect subsidiaries of Whitehall Street Global Real Estate Limited Partnership 2005 in 2006. ()
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India plans to shift to a gas-based economy by boosting domestic production and buying cheap liquefied natural gas (LNG) as the world's third-biggest oil importer seeks to curb its greenhouse emissions, oil minister Dharmendra Pradhan said. Full Article