The companies have already closed sales on two of the hotels and expect to complete the remaining transactions by the end of the third quarter. "In 2001, we sold real estate assets and investments (including a total of 18 hotels) with an aggregate sales value of more than $730 million," Marriott Executive Vice President and CFO Arne M. Sorenson, notes in a statement. "In addition, we have agreements to sell within nine months an additional seven hotels (including the remaining six hotels in the transaction announced), which are under development and have an aggregate sales value of more than $205 million."
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