RIO DE JANEIRO, BRAZIL-Marriott International Inc. has sold off its JW Marriott on Copacabana Beach resort here to Host Hotels & Resorts Inc. for $47.5 million in cash. The move was part of Marriott’s plan to divest all property ownership and concentrate on management, according to Jones Lang LaSalle, which arranged the sale.

Marriott will continue to operate the resort on a long-term management agreement with Host, says Gregory Rumpel, EVP for JLL. The 245-room property is across from Copacabana Beach and is near the city’s CBD.

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