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by Lisa A. Grimaldi | February 02, 2011

 Host Hotels & Resorts has entered into an agreement to purchase the 775-room New York Helmsley Hotel from the estate of the late Leona Helmsley. The transaction is expected to be completed next month, when Starwood Hotels and Resorts will assume management of the property. The hotel's guest rooms, ballroom and seven meeting rooms will be renovated. When the facelift is completed in the first half of 2012, the property will be branded as a Westin.