Thayer Lodging Group Acquires three Marriott-branded (MAR) hotels at Miami International Airport
- Top 10 News for 12/15 - 12/19: Russia Raises Rates, Ruble Retreats; U.S., Cuba Get Friendly; Sony Crumbles Under Pressure
- BlackBerry (BBRY) Posts Surprise Q3 Profit; Reports 100% Sequential Growth in BES10 Licenses
- Facebook's (FB) Instagram is Bigger and Better than Twitter (TWTR), Should Be Worth $35 Billion - Citi
- Nike (NKE) Tops Q2 EPS by 4c; Adjusted Futures Orders Rose 11%
- Fed's Williams Says June Good Time to Consider 'Lift-Off'
Thayer Lodging Group has acquired a complex of three Marriott-branded hotels at Miami International Airport from Marriott International, Inc. (NYSE: MAR) for $57.5 million. Thayer said it plans to invest an additional $65 million to totally makeover the complex. The renovation/construction will take place in phases, with a final completion date planned for early 2009 to coincide with completion of a major expansion of the airport and regional transportation hub. Marriott will continue to manage the hotels and oversee all construction and renovation projects.
You May Also Be Interested In
- Actavis (ACT) Looks to European Expansion; May Place Bid for Spanish Drugmaker Almirall
- Marriott International's Content Studio Rapidly Expands Presence With Additional Content Development, Production And Distribution Deals
- Taking A Page From Its Roots - Marriott Launches CANVAS, A Global Concept Lab For Food And Beverage Ideas
Create E-mail Alert Related CategoriesMergers and Acquisitions
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!