Hospitality sale.Lodging Lodging or holiday accommodation is a type of accommodation. People who travel and stay away from home for more than a day need lodging mainly for sleeping. Other purposes are safety, shelter from cold and rain, having a place to store luggage and being able to take a giant Accor said it agreed to sell Los Angeles' Sofitel Hotel as part of a deal to divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. itself of a portfolio of six Sofitel hotels in the U.S. for $370 million. The six hotels with a total of 1,931 rooms are in Chicago, Miami, Minneapolis, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden and Washington D.C., besides L.A They were sold to a joint venture comprised of GEM Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Capital, Whitehall Street Global Real Estate and Limited Partnership 2005. Accor will maintain a 25 percent interest in the hotels. Paris-based Accor also will continue to manage the hotels under Sofitel brand name through a 25-year contract. |
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