Host Hotels Acquires 426-room Hyatt Place Waikiki Beach in Honolulu, Hawaii for $138.5 million
Acquired from an Affiliate of Chartres Lodging and Morgan Stanley Real Estate Fund VII Global
BETHESDA, MD - June 4, 2013 - Host Hotels & Resorts, Inc. (NYSE:HST) announced today that the Company acquired the fee-simple interest in the 426-room Hyatt Place Waikiki Beach in Honolulu, Hawaii for $138.5 million from an affiliate of Chartres Lodging Group, LLC and Morgan Stanley Real Estate Fund VII Global. Kokua Hospitality will continue to manage the hotel subject to a franchise agreement with Hyatt.
The hotel underwent a $45 million renovation and converted to a Hyatt Place in 2012. The hotel is located just 1.5 blocks from Waikiki Beach and is also in close proximity to the Waikiki Aquarium, the Honolulu Zoo and the Kalakaua shopping/entertainment district. Waikiki is a high demand leisure market with occupancy at nearly 90%, an internationally diverse demand base, and high barriers to entry.
ABOUT HOST HOTELS & RESORTS
Host Hotels & Resorts, Inc. is an S&P 500 and Fortune 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 104 properties in the United States and 15 properties internationally totaling approximately 63,000 rooms. The Company also holds non-controlling interests in a joint venture in Europe that owns 19 hotels with approximately 6,100 rooms and a joint venture in Asia that owns one hotel with approximately 300 rooms in Australia and a minority interest in two hotels in India and five hotels that are in various stages of development in India. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, Sheraton®, W®, St. Regis®, Le Meridien ®, The Luxury Collection®, Hyatt®, Fairmont®, Four Seasons®, Hilton®, Swissotel®, ibis®, Pullman®, and Novotel®* in the operation of properties in over 50 major markets worldwide. For additional information, please visit the Company's website at www.hosthotels.com.
.
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 
