News for the Hospitality Executive |
By Steve Frasher, The Business Press, Ontario, Calif.
Knight Ridder/Tribune Business News Feb. 10--The Ontario Airport Marriott Hotel was sold for $25.7 million, Bethesda, Md.-based Host Marriott Corp. announced Jan. 31. The 299-room hotel at 2200 E. Holt Blvd., was purchased by San Clemente- based Sunstone Hotel Investors LLC, a partnership that seeks financial growth by turning around under-performing hotels in selected growth markets, according to the company Web site. The hotel employs 225 people. Rooms sell for $89 to $350 a night. Proceeds from the sale are expected to repay debts, Host Marriott Senior Vice President Greg Larson said in a release. The hotel will remain a Marriott franchise, hotel General Manager Jeffrey Brown said. Brown previously managed the Ontario Airport Marriott from 1992 to 1998 when the property was newly acquired by Marriott from Clarion, a division of Maryland-based Choice Hotels International Inc. Brown was eager to return to the helm of the Ontario Marriott. "This is where I wanted to finalize my career," he said. -----To see more of The Business Press, or to subscribe to the newspaper, go to http://www.thebizpress.com (c) 2003, The Business Press, Ontario, Calif. Distributed by Knight Ridder/Tribune Business News. CHH, |