>Sunstone Hotel Investors Announces the Sale of the Marriott Riverside, California for Gross Proceeds of $19.3 Million

Share Button

>So the CEO states

Art Buser, President and Chief Executive Officer, stated, “The sale of the Marriott Riverside demonstrates our ability to monetize non-core assets at an attractive valuation in a very challenging transaction environment.

So the hotel was sold at 10.1 times 2009 EBITDA. Yes its a good multiple, but in a DOWN year. The hotel sold for $66K per room?

Check out the web site http://www.marriott.com/hotels/travel/ralmc-riverside-marriott/
It says “newly renovated rooms”

About the Author