HODGES WARD ELLIOTT ADVISES ON THE SALE OF THE NEW YORK EDITION HOTEL

PRESS RELEASE

April 1, 2015

HODGES WARD ELLIOTT ADVISES ON THE SALE OF THE NEW YORK EDITION HOTEL

Hodges Ward Elliott (“HWE”) is pleased to have represented Marriott International (“Marriott”) in the $343 million sale of The New York EDITION hotel to Abu Dhabi Investment Authority (“ADIA”).  In 2013, Marriott announced its intention to sell three EDITION hotels -- in London, Miami Beach and New York -- to ADIA for a total of $816 million while maintaining long-term management agreements.  The sale of The New York EDITION marks the final closing, as The Miami Beach EDITION sold in February 2015 and The London EDITION closed in 2014.  HWE represented Marriott in the sale of all three EDITION hotels.

HWE is the leading hotel brokerage and investment-banking firm in the country providing total capital solutions, including hotel sales, recapitalizations and debt placement for our clients.  Over the past 5 years, HWE has sold or financed more than $17 billion of hotels and resorts across the U.S. and Europe.