The three hotels sold were the Atlanta Marriott Northwest, the Detroit Airport Marriott, and the Detroit Marriott Southfield hotels. The closing of the sale of the two remaining hotels, the Atlanta Marriott Norcross and the Fullerton Marriott at California State University, is expected to occur in mid March and is subject to customary closing conditions. 
 

In addition, the Company announced the sale of the Mexico City Airport Marriott hotel for total proceeds of $30 million. The proceeds from these sales are expected to be used to repay debt or for other corporate purposes. The Company intends to increase its sales efforts for its non-core assets as a result of strong demand in the market. The Company now forecasts the

Marriott Aeropuerto Mexico City

Christopher J. Nassetta, president and chief executive officer, stated, "We believe selling non-core assets in this environment is the right long-term strategic decision for the company. The sale of these non-core assets will enhance the overall quality of our portfolio and our long-term earnings growth rate."

The Company has finalized the review of individual property budgets for 2004 and continues to believe that its prior RevPAR and margin guidance are still appropriate. RevPAR is expected to increase approximately 3% to 4% from 2003 and margins will be generally flat. The Company will provide initial 2004 earnings guidance on its fourth quarter earnings call scheduled to take place on February 24, 2004.

Host Marriott is a Fortune 500 lodging real estate company, which owns 113 upscale and luxury full-service hotel properties primarily operated under Marriott, Ritz-Carlton, Four Seasons, Hyatt, Westin and Hilton brand names.

This press release contains forward-looking statements within the meaning of federal securities regulations.