Tag Archives: consents

Host Hotels Consents To Purchase Trio of Hyatt Hotels in Hawaii, CA, FL for $1 Billion

The 301-room Andaz Maui is amongst a trio of resort hotels under contract to be acquired by Host Hotels & & Resort in a $1 billion transaction.

credit: Hyatt Hotels Corp.Bethesda, MD-based

Host Hotels & Resorts, Inc. (NYSE: & HST) revealed an arrangement to buy the 301-room Andaz Maui in Wailea, Hey There; the 668-room Grand Hyatt San Francisco in the city’s Union Square district and the 454-room Hyatt Regency Coconut Point in Bonita Springs, FL for $1 billion.

Host Hotels posted a $25 million deposit in contracting to acquire the three residential or commercial properties, according to Host Hotels President and CEO James Risoleo, who announced the transaction Wednesday afternoon in the company’s fourth-quarter and full-year 2017 earnings report.

“These possessions are fee-simple and situated in what the company believes are some of the leading growth markets in the United States, consisting of Maui and San Francisco, which are taking advantage of strong accommodations need and restricted supply development,” Risoleo said.

Host Hotels currently owns 10 Hyatt homes. Hyatt will continue to manage the hotels post-sale.

Host Hotels likewise revealed on Wednesday it closed the $190 million sale of the Secret Bridge Marriott in Arlington, VA, on Jan. 9 and is under agreement to sell the W New York for $190 million in a separate deal anticipated to close in the second quarter. Capstone Equities and Highgate are reported to be the unofficial purchasers.

Host Hotels reported fourth-quarter revenues of $0.42 per share on profits of $1.34 billion. For the year, HST reported $5.39 billion in incomes, about 0.8% below 2016
“By opportunistically generating income from a terrific piece of property in Washington, D.C. and reducing our direct exposure in New york city, we are using essential pillars of our modified strategy that our company believe will develop additional worth for stockholders gradually,” Risoleo stated in a release.

AP Source: Jamal Crawford consents to 2-year handle Wolves

Saturday, July 8, 2017|8:49 p.m.

LAS VEGAS– The Minnesota Timberwolves were in desperate requirement of a scorer off the bench. Jamal Crawford has actually earned a living doing just that.

Crawford reached agreement with the Timberwolves on a two-year offer Saturday, a person with knowledge of the situation informed The Associated Press. The individual spoke on the condition of anonymity due to the fact that he can not be signed until he clears waivers.

The cap-strapped Wolves just had the room exception delegated use for the offer, worth about $4.2 million for the upcoming season. The 2nd year is a player alternative.

The 37-year-old Crawford averaged 12.3 points in 82 video games for the Clippers last season. He was traded to Atlanta to assist include Danilo Gallinari and reached a buyout arrangement with the Hawks.

It continues an aggressive summer for the Timberwolves and president of basketball operations Tom Thibodeau, who obtained three-time All-Star Jimmy Butler in a trade with the Chicago Bulls, signed free agent point guard Jeff Teague and veteran forward Taj Gibson to remake a roster that won simply 31 games last season.

The flurry of activity left the Wolves with an enforcing beginning 5, but very little off the bench on the wings behind Butler and Andrew Wiggins.

Crawford has actually long been one of the league’s microwave men– a gamer who can come off the bench cold and heat up quickly. He has won the NBA’s sixth man of the year award 3 times, most recently in 2015-16.

His scoring average last season was the lowest given that 2002-03 and he is a career 35 percent shooter from 3-point variety. So the Wolves still have some holes to fill with a lineup that now has 11 players. They have nearly no cap space left to sign free agents, so the remaining deals will either need to be for the veteran’s minimum or by means of trades.