Xenia has received multiple offers for the portfolio, which includes properties in Chicago, Denver and Salt Lake City.
Miami Beach has more Airbnb units per capita than any other market in the United States.
A Middle Eastern buyer agreed to pay more than $2 million a key for the five-star Montage Beverly Hills hotel in Beverly Hills.
The hotel operator lowered its full-year projections due to slowing demand.
QIA paid $310 million for the prominent Manhattan property. The Marriott sale comes after recent acquisitions by the company.
The company expects to find a buyer for the hotel by the end of the year.
An Avison Young report says that the inclusion of wellness features is having an impact on hotel revenues.
Marriott described the property as an “incubator and catalyst for a new vision” for the brand in North America.
The company will continue to operate the property under a lease arrangement.