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Dec 30, 05, 10:40 am
Marriott Sells $246 Million of Land
Marriott International Inc. said Friday it has closed the sale of $246 million worth of land that underlies 75 Courtyard by Marriott hotels, creating a pretax gain of $17 million for the year...
...Loss of rental income from the sale will reduce Marriott's 2006 operating income by $20.7 million, but interest expense savings and equity earnings from the deal will total $18.1 million...
http://www.nytimes.com/aponline/business/AP-Marriott-Land-Sale.html
Marriott International Inc. said Friday it has closed the sale of $246 million worth of land that underlies 75 Courtyard by Marriott hotels, creating a pretax gain of $17 million for the year...
...Loss of rental income from the sale will reduce Marriott's 2006 operating income by $20.7 million, but interest expense savings and equity earnings from the deal will total $18.1 million...
http://www.nytimes.com/aponline/business/AP-Marriott-Land-Sale.html