Host Hotels & Resorts Buys Interest in U.S. Tropical Vacation Resort

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Jun 3 2013 - 7:40am

Bethesda-based Host Hotels & Resorts (NYSE: HST), Inc announced that it has acquired the fee-simple interest of a large Hyatt branded resort.

One of the world's largest real estate investment trusts or REIT paid $138.5 million for the 426-room Hyatt Place Waikiki Beach in Honolulu, Hawaii.

Involved in the transaction were affiliates of Chartres Lodging Group, LLC and Morgan Stanley Real Estate Fund VII Global.

$45 million was spent to renovate and convert the hotel to a Hyatt in 2012 and is managed by Kokua Hospitality.

Host Hotels & Resorts (NYSE: HST) was unchanged in premarket trading. The company has an approximate market value of $13.25 billion.

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