Marriott Makes Deal
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NEWPORT BEACH — Host Marriott Corp. said it has acquired the remaining 17% interest in the 250-room Newport Beach Marriott Suites for $3.8 million.
The company said the suites hotel is expected to generate $4 million in earnings this year before interest, expenses, taxes, depreciation and amortization.
Host Marriott paid $17.7 million last year for an 83% controlling interest in the hotel.
