>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”