Host Hotels To Pick Up NY's Helmsley For $314M

Law360, New York (January 27, 2011, 6:52 PM EST) -- Host Hotels & Resorts Inc. announced Thursday it would buy the New York Helmsley Hotel and rebrand it a Westin Hotel in a deal worth $313.5 million.

Host Hotels, a hotel real estate investment trust that owns more than 100 U.S. properties, will add the 775-room Midtown Manhattan hotel, which was once part of Harry Helmsley's real estate empire, to the company's stable of luxury and upscale lodging.

Selling the property is the estate of Leona M. Helmsley, who inherited her husband Harry's holdings after he...
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