Hotels changing hands, brands

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The Essex House at 160 Central Park South is being sold to Fairmont Hotels and real estate investment trust Host Marriott for around $400 million. At the same time, the Blackstone Group has purchased the Rihga Royal for about $183 million in addition to the $40 million it will invest in renovations – and it’s dumping Marriott. The Post wades into the transactions. more [Post]