SAN DIEGO-The Manchester Grand Hyatt Hotel in San Diego will be bought by Host Hotels & Resorts Inc. for $570 million in stock and cash.
Host Hotels & Resorts will pay almost $351,000 per room and plans to settle the approximately $400 million in debt currently existing on the property. The sales deal on the 1,625 room hotel is expected to complete in March of 2011. For the full story, go to Wall Street Journal.
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