Fremont Marriott Sells For $50 Million

Big price for 357-room Silicon Valley hotel.

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    Big money for Silicon Valley hotel.

    What can a 357-room hotel near Silicon Valley command?

    $140,000 per key, or a cool $50 million.

    The Fremont Marriott Silicon Valley hotel has sold for $50 million, according to www.hotelresource.com.

    Ashford Hospitality Trust is the buyer of the centrally-located hotel off of Interstate-880, which is also near "over 1,200 high-tech, life sciences" and clean tech companies, the Web site reported.

    In other words, it's location in a key market.

    The hotel has 15,000 square feet of meeting space as well as its capacity for visitors, the Web site reported.