Hotel Online Special Report
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The 308 room Ritz-Carlton Dearborn, MI 
Sold for $65 Million to Host Marriott Corp.
Sonnenblick-Goldman Company Arranges Sale 
 
New York, NY - August 25, 1998 - Sonnenblick-Goldman Company, acting as the exclusive financial advisor to Fairtel Associates, has arranged the $65,000,000 sale of The Ritz-Carlton Dearborn to Host Marriott Corporation. 

"The strong level of interest and pricing for  the asset demonstrates the market's appetite for quality hotels that are encumbered by long-term management contracts," Mark Gordon, Senior Vice President of Sonnenblick-Goldman Company, commented. 

The hotel's is an integral component of the development of the former Henry Ford estate, known as Fairlane.  Located approximately ten miles from downtown Detroit and the Wayne County Detroit Metropolitan Airport, this 2,360 acre development includes The Ritz-Carlton Dearborn, the Fairlane Town Center Mall, the Fairlane Office Center, Ford World Headquarters, and the University of Michigan/Dearborn. 

Designed and built according to Ritz-Carlton standards, The Ritz-Carlton Dearborn is the only hotel in the Detroit area that is rated both "Four Diamond" by the American Automobile Association and "Four Star" by the Mobil Travel Guide.  The 308-room luxury hotel, which is elegantly decorated with nineteenth century oil paintings and antiques, features approximately 25,000 square feet of meeting space, an elegant gourmet restaurant, a business center, a fitness center equipped with a heated indoor pool and Jacuzzi. 

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Sonnenblick-Goldman Company is the nation's leading independent real estate investment banking firm.  Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman Company provides a full range of real estate financial services including debt and equity placements, joint ventures, and other real estate advisory services. Headquartered in New York, Sonnenblick-Goldman Company maintains regional offices in Denver, Los Angeles, San Francisco, Miami, and Washington, D.C. 
 
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Contact:
Sonnenblick-Goldman Company
712 Fifth Ave.
New York, NY 10019
(212) 841-9200
(212) 262-4224 - Fax
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Also See:
Host Marriott Corporation Acquires Ritz-Carlton, Phoenix for a Total of $75 Million / May 1998 
Host Marriott Corporation Acquires the Ritz-Carlton, Tysons Corner, Virginia for $96 Million / June 1998 

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