NEW YORK— HOTEL BUSINESS® has learned that Boston Exeter Corp. and Meyer-Jabara Hotels have entered into a long-term lease for a property in Bostons Back Bay, which will be reconstructed as a Courtyard by Marriott. The structure at 88 Exeter Street will be converted into an 81-room Courtyard by Marriott— the first property to fly that flag in downtown Boston. The hotel is slated to open in early 2004. Insignia/ESG Hotel Partners was the owners exclusive representative in the transaction through managing director David McElroy. The property attracted numerous bids, according to McElroy. Boston Exeter Corp. is an investment vehicle for a U.K.-based family who has extensive real estate holdings in Great Britain. Meyer-Jabara Hotels, located in Danbury, CT, will operate the new Courtyard in Boston. — Shannon McMullen
