Dispositions

9 Months Ended

Sep. 30, 2020

Disposal Group Not Discontinued Operation Disposal Disclosures [Abstract]

Dispositions

8. Dispositions

Subsequent to quarter end, we sold the Newport Beach Marriott Hotel & Spa for $216 million, including $14 million for the FF&E replacement funds, and excess land adjacent to The Phoenician hotel for $66 million, and expect to record a combined gain of approximately $200 million in the fourth quarter. As of September 30, 2020, the Newport Beach Marriott Hotel & Spa was classified as held for sale.