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The Honolulu Advertiser

Posted on: Monday, June 18, 2001

Deal includes Lihu'e resort

Advertiser Staff

Hospitality Properties Trust of Newton, Mass., said it had acquired four hotels from Marriott International Inc., including the 356-room Kaua'i Marriott Resort & Beach Club in Lihu'e, for $101.5 million.

Marriott International will continue to operate the hotels under long-term management agreements with an affiliate of Hospitality Properties Trust.

"We are continuing our strategy to sell company-developed hotels while retaining long-term management agreements," said Arne M. Sorenson, executive vice president and chief financial officer of Marriott International.