Marriott Completes Sale of Courtyard by Marriott Paris Arcueil (France)
Marriott International, Inc. (NASDAQ:MAR) today announced it has completed the sale of the Courtyard by Marriott Paris Arcueil. |
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Marriott Completes Sale of Courtyard by Marriott Paris Arcueil (France)
Marriott International, Inc. (NASDAQ:MAR) today announced it has completed the sale of the Courtyard by Marriott Paris Arcueil. |
Category: Europe - France - Industry economy
- Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2015-04-02
The 170 room hotel, located just outside Paris, France, opened in 2011 as part of a large mixed use economic redevelopment program in the Porte d’Arcueil business district.
Marriott received approximately $28 million in net proceeds and retains a long term management agreement for the property.
About Marriott International, Inc. Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,100 properties in 79 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 18 brands, including: Marriott Hotels, The Ritz-Carlton, JW Marriott, Bulgari, EDITION, Renaissance, Gaylord Hotels, Autograph Collection, AC Hotels by Marriott, Moxy Hotels, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Protea Hotels, Marriott Executive Apartments and Marriott Vacation Club timeshare brand. 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 49 million members.
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