Marriott International Sells the 759-room Westin Maui Resort & Spa and Retains Long-term Management Agreement

Marriott International, Inc. | April 3, 2017

BETHESDA, Md., April 3, 2017 -- Marriott International (NASDAQ: MAR) today announced it has completed the sale of its long-term leasehold interest in The Westin Maui Resort & Spa, Ka'anapali for approximately $317 million. Marriott will continue to manage the 759-room property under a long-term management agreement. The buyer is a joint venture among funds managed by Trinity Investments LLC and Oaktree Capital Management, L.P. The transaction underscores Marriott's success advancing its plan to sell hotels acquired through its merger with Starwood Hotels & Resorts last year. "We are proud to announce the sale of thi...