Arent Fox Completes the Relicensing of 112 Hotel Franchises for Marriott International The relicensing was a crucial element of the sale of four hospitality portfolios from Colony Capital to a joint venture between affiliates of Highgate and Cerberus Capital Management, L.P. in a transaction with an asset value of approximately $2.5 Billion. The relicensing, which completes Colony Capitals exit from the hospitality business, included hotels in 26 states operated under eight Marriott brands... By: Arent Fox