Marriott Sells Spanish Hotel To Qatar Fund In $107M Deal

Law360, New York (January 30, 2014, 1:47 PM ET) -- An affiliate of the Qatar Armed Forces Investment Portfolio has scooped up the leasehold interests in a Barcelona hotel from Marriott International Inc. in an approximately $107 million deal, which includes debt assumption, Marriott announced Thursday.

Per the deal, the Qatari fund is handling over €45 million ($62 million) in cash and will assume €33 million in debt obligations tied to the Renaissance Barcelona Hotel, according to a statement. Marriott, meanwhile, will continue to operate the hotel under a new long-term management contract.

"Through the sale...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required