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MARRIOTT TO SELL DALLAS MANDALAY HOTEL TO HARBOUR CENTRE DEVELOPMENT LIMITED

 MARRIOTT TO SELL DALLAS MANDALAY HOTEL
 TO HARBOUR CENTRE DEVELOPMENT LIMITED
 WASHINGTON, March 10 /PRNewswire/ -- Marriott Hotels, Resorts and Suites announced today it has signed a letter of intent to sell its Dallas Mandalay hotel to Harbour Centre Development Limited of Hong Kong. Terms of the agreement were not disclosed by Marriott.
 Marriott said proceeds from the sale will be used to reduce corporate debt. The sale is expected to be completed on or before June 30, 1992. The real estate investment banking unit of Chemical Bank is advising Marriott in the transaction.
 The property was purchased by Marriott in December 1986 when it was operating as a Four Seasons hotel. It opened for business in 1982.
 -0- 3/10/92
 /CONTACT: Roger Conner, vice president, communications, Marriott Hotels, Resorts and Suites, 301-380-1340/
 (MHS) CO: Marriott Hotels, Resorts and Suites ST: Texas IN: LEI SU:


SB -- DC005 -- 6732 03/10/92 08:59 EST
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Publication:PR Newswire
Date:Mar 10, 1992
Words:154
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