WASHINGTON, DC— Marriott International, Inc. has sold the Bridgewater (NJ) Marriott and the San Francisco Courtyard by Marriott hotels for a total of approximately $143 million to an affiliate of CNL Hospitality Corp., based in Orlando, FL. Marriott inked long-term management agreements for both properties. Marriott developed the 347-room Bridgewater Marriott and the 405-room San Francisco Courtyard. Marriott will retain an equity interest in the San Francisco property. Arne Sorenson, Marriotts evp/CFO, said, “We are very pleased with these asset sales and with our growing partnership with CNL Hospitality. This year, Marriott has sold real estate assets totaling approximately $300 million.”
