5
Nov
Westin Los Angeles Airport has a new owner
The Westin Los Angeles Airport was among a portfolio of hotels bought by Lone Star Funds, the buyer and seller announced this week.
Lone Star, a Dallas private equity firm, paid a total $551 million for the 368-room hotel at 2600 Bishop Drive and four others. The seller was Hotels & Resorts (NASDAQ: HST), a Bethesda, Maryland-based hospitality REIT.
The purchase price included about $11 million for the furniture, fixtures and equipment replacement funds.
The other hotels in the deal were the…
Source: Arizona Business Journal
