Marriott Marquis sold
Metro Atlanta’s largest hotel, downtown’s Marriott Marquis, has been sold.
Host Hotel & Resorts, the Maryland-based owner of the building, said on its website Thursday that it sold the 1,663-room building for $293 million on Jan. 11. Host did not say to whom the hotel was sold.
“I am excited to report our continued success in executing our asset sale strategy,” Gregory J. Larson, Host’s executive vice president of corporate strategy, said in a release. “In the past 12 months, we have sold four hotels for approximately $450 million. This sale meaningfully reduces our overall market presence in Atlanta, which now represents approximately 3 percent of our total revenues.”
Host said “the hotel is subject to a long-term management agreement with Marriott International” and that “proceeds will be used to fund future acquisitions, pay down debt or for general corporate purposes.”
The hotel, built by Atlanta architect John Portman, was completed in 1985. A number of scenes from Denzel Washington’s “Flight” and the upcoming “Catching Fire,” the “Hunger Games” sequel, were filmed in the 52-story building.
