• Acquired at a 9X EBITDA multiple 
• Purchase price of $188,000 per room (65% of estimated replacement cost) 
• Located in a strong market with high barriers to entry

The Boston Marriott Copley Place, which opened in 1984, has had an impressive operating history with average occupancy of 85% over the past five years. The hotel also boasts the largest hotel ballroom in New England and offers meeting planners the flexibility of more than a total of 60,000 square feet of meeting, exhibit and banquet space. The Back Bay district of Boston is the hub of the city's business, convention, cultural and educational communities. The hotel's lobby opens to the upscale Copley Place Shopping Galleries and the Prudential Center, with over 200 upscale shops and restaurants with over 17,000 visitors each day. With this acquisition, Host Marriott now owns nine hotels with at least 1,000 rooms.
    
"The acquisition of the Copley Place Marriott confirms our disciplined strategy of purchasing the best assets in the best markets with the best brands. Given our purchase price represents a 35% discount to replacement cost, we are confident this asset will create long term value for our shareholders," stated James Risoleo, executive vice president of acquisitions and development.
    
Host Marriott is a Fortune 500 lodging real estate company that currently owns or holds controlling interests in 123 upscale and luxury hotel properties primarily operated under premium brands such as Marriott, The Ritz-Carlton, Hyatt, Four Seasons, Swissotel and Hilton.