Host sells Times Square hotel to MCR, Island Capital

Host Hotels & Resorts has sold the Sheraton New York Times Square Hotel for $373 million — $210,000 per unit — in a deal with MCR and Island Capital Group. “Since the beginning of 2021, we have invested $1.6 billion in early-cycle acquisitions, and we have disposed of eight hotels at a value of $1.4 billion, including amounts due under seller financing,” noted Host CEO James Risoleo.