Host Marriott also closed on the issuance ofapproximately 133.5 million shares of common stock of the companyto Starwood stockholders. Host Marriott announced that it willchange its name to Host Hotels & Resorts, Inc. on April 17, andon April 18 it will begin trading on the New York Stock Exchangeunder the new ticker symbol HST.
Christopher J. Nassetta, president and chief executive officer,says the firm completed the financing of the cash portion of thetransaction "as originally contemplated by completing certainhigh-multiple asset sales, the formation of a European jointventure and the recent issuance of senior notes." The propertiesinclude hotels under the Sheraton, W, Westin, St. Regis and LuxuryCollection brands. They will continue to be managed by Starwoodunder long-term management agreements.
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