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Host Hotels closes sale of Westin New York Grand Central for $302M

Host Hotels & Resorts Inc. completed its sale of The Westin New York Grand Central hotel for $302 million.

The lodging real estate investment trust, which is in the process of reducing its exposure to the New York market, said that with the closing of the Westin New York sale, it has sold three assets as well as the retail, signage and theater condo space at the New York Marriott Marquis for $1.1 billion at "very attractive pricing."