(MENAFN) Abu Dhabi government is planning to buy three Marriott International Inc. hotels. The government fund allocated USD800 million for this plan, according to Gulf News.
Marriott"s Edition and the hotelier Ian Schrager are working on improving these three hotels that are located in London, New York City and Miami Beach.
The new hotel line creativity aims to attract young, affluent travelers who may pay more for the style taken on Starwood Hotels & Resorts Worldwide Inc. after the limitation of traction the company suffered from.
Selling these three hotels to the Abu Dhabi Investment Authority (Adia) will help Marriot reimburse its upgrading expenses that cost it about USD800 million.
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