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Carey Watermark Investors 2 buys Marriott hotel for $170M

Carey Watermark Investors 2 Inc. acquired Charlotte Marriott City Center from a subsidiary of Marriott International Inc. for approximately $170 million.

Marriott said it will retain a long-term management agreement for the 19-story, 446-room property, which is in the central business district of Charlotte, N.C.

In 2016, over $40 million of capital improvements were delivered to the property, including the addition of eight guest rooms, five food and beverage outlets, a fitness center, an M Club Lounge and a lobby core.