BURLINGAME, CA-Inland American Lodging Group Inc. has purchased the San Francisco Airport Marriott from Host Hotels & Resorts Inc. The San Francisco Marriott Marquis and the San Francisco Marriott Fisherman's Wharf are still under Host's portfolio.
Host obtained total proceeds of $112.7 million from the sale. The company recently sold $350 million in new debt. Host is using the proceeds and cash on hand to settle a $113-million mortgage on the JW Marriott hotel and a $250-million senior note that comes due in 2014. For the full story, go to Washington Business Journal .
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