WASHINGTON, DC-Host Hotels & Resorts has inked a deal to acquire the Grand Hyatt D.C. for $442 million. The company revealed about the pending deal in its Q2 earnings report. As per the company, the acquisition may include a $166 million mortgage on the 888-room hotel situated at 1000 H St. NW.
The acquisition deal is anticipated to be complete by September 2011. Host has plans to purchase the Pullman Bercy, a 396-room hotel in Paris, for EURO 96 million. For the full story, go to Washington Business Journal .
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