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Recreation
Over 23,000 Discount Hotels in North America, Europe, and Asia. REAL-TIME Secure Booking Engine, 24-hr Support, and our LOWEST RATE Guarantee!Find Best accommodation and enjoy your trip.In the largest hotel transaction in the LAX area since 9/11, the Sheraton Gateway Hotel LAX is under contract to be sold for nearly $82 million, according to sources close to the deal
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They're attracting institutional demand, where they weren't before," said Bruce Baltin, a senior vice president at hotel tracking firm PKF Consulting. "They are attracting a sophisticated buyer who has previously steered clear of that market."The Sheraton Gateway deal, in which the buyer was not disclosed, comes on the heels of Starwood Hotels & Resorts Worldwide Inc.'s sale of the 740-room Westin Los Angeles Airport to Host Marriott Inc. as part of a national portfolio transaction.
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