when did ritz carlton become part of marriott
The Ritz-Carlton Hotel Company Blackstone Real Estate Acquisitions of New York bought The Ritz-Carlton Boston at auction for $75 million in February 1998. A month later, Marriott International of Bethesda, Maryland, acquired the[where?]hotel from Blackstone for $100 million. Marriott, which franchises and manages Marriottâ€™s 325,000 rooms, then bought The Ritz-Carlton Hotel Co. and rights to The Ritz-Carlton name worldwide from W.B. Johnson for $290 million in a two-part transaction completed in 1998.