Abu Dhabi Investment Authority buys three Edition hotels from Marriott

US: Marriott International is selling three of its Edition hotels, in London, Miami and New York for around $815 million.

The London property opened in September 2013, while the other two are under development.

The properties will be operated by Marriott under long-term management contracts with their new owners, companies owned by the Abu Dhabi Investment Authority.

Arne Sorenson, president and chief executive of Marriott International, said: “The sale of all three company-owned hotels is a powerful endorsement of our Edition brand. This transaction is a key component of our strategy to build the Edition brand by selectively developing spectacular, brand-defining hotels in gateway cities. We look forward to managing these hotels for many years.”

The Edition brand is a partnership with Ian Schrager. The first property opened in Istanbul, followed by London. Other EDITION hotels are planned for Los Angeles, Abu Dhabi, Sanya, Shanghai, Wuhan, Gurgaon and Bangkok.

edition-hotels.marriott.com

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