Abu Dhabi Fund Buying 3 Editions from Marriott. What Does this Mean to Marriott & the Edition Brand?
August 19, 2013 4:29am
by the JMBM Global Hospitality Group®
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By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
15 August 2013
Hotel Lawyer on the reported sale by Marriott of 3 Edition hotels.
Craig Karmin and Alexandra Berzon of the Wall Street Journal broke a big story yesterday evening which appeared in the August 15, 2013 US edition of the paper at page C3. The headline is "Marriott Close to Deal to Sell Three Hotels to Abu Dhabi Fund."
The story, in which I am quoted, describes reports from people close to the deal, that Marriott International is about to close a sale of 3 Edition hotels in London, New York and Miami Beach. The reported buyer is Abu Dhabi Investment Authority, or ADIA.
Other highlights of the article:
So what does this transaction mean?
Here is what I think this transaction means:
Have you ever stayed in a Marriott Edition, had dinner or drinks at one, or asked your assistant to book you into one at a city you are traveling to? Me, neither. But if Marriott stays the course and the river doesn't rise, that could change.
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This is Jim Butler, author of www.HotelLawBlog.com and hotel lawyer, signing off. We've done more than $60 billion of hotel transactions and have developed innovative solutions to help investors be successful in bidding for hotel acquisitions, and helping investors and lenders to unlock value from troubled hotel transactions. Who's your hotel lawyer?
global hospitality group®,
Jim Butler is a founding partner of JMBM, and Chairman of its Global Hospitality Group® and Chinese Investment Group™. Jim is one of the top hospitality attorneys in the world. GOOGLE "hotel lawyer" and you will see why.
Jim and his team are more than "just" great hotel lawyers. They are also hospitality consultants and business advisors. They are deal makers. They can help find the right operator or capital provider. They know who to call and how to reach them.
Contact: Jim Butler
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