Thayer Lodging Group Acquires three Marriott-branded (MAR) hotels at Miami International Airport
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
- Marriott Int'l. (MAR) Tops Q3 EPS by 4c, Guides Q4 EPS In-Line at Mid-Point
- Lockheed Martin (LMT) to Acquire Health Info Tech Provider, Systems Made Simple
- Colgate-Palmolive (CL) Acquires Toothpaste Maker in Myanmar for $100M - DJ
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!