Carey, Arden, Marcus Buy Westin Atlanta Perimeter North

Carey Watermark Investors Incorporated (CWI), The Arden Group, Inc. and Marcus(R) Hotels & Resorts, a division of The Marcus Corporation MCS, today announced they have acquired the Westin Atlanta Perimeter North in a joint venture. The 372-room hotel includes 20,000 square feet of meeting space, restaurant, lounge, business center, fitness center, gift shop, outdoor pool and 338 parking spaces. The joint venture's total investment in the property is approximately $57 million, including an approximately $14 million renovation of guestrooms and public spaces, which is anticipated to be completed in early 2014. The property was acquired from an affiliate of DiamondRock Hospitality Company. Located approximately 15 miles from downtown Atlanta, the property is