(H)f tonsliiiifllon post
Marriott Corp. yesterday agreed to sell its Great America theme park in Santa Clara, Calif., to the city of Santa Clara for $101 million. Marriott officials said the sale of the California park will not affect its other amusement park near Chicago, but that facility too is reported to be for sale. Both parks have been profitable, a spokesman said.</br></br>Marriott said it will get more from the sale than it has invested in the park, but the amount of the gain has not yet been determined. The company said the decision to sell the park ÛÏresulted primarily from substantially increased land values in Santa Clara.Û</br></br>When the sale is completed next September, Marriott will get $70 million in cash and $31 million in short-term notes from the city for the 195-acre park. Marriott will continue to run the park for the 1984 season.</br></br>Planning Research Corp. yesterday announced plans to repurchase up to $5 million of the companyÛªs stock at market prices. At the current market price of about $15.25 a share, the purchases would involve about 327,000 of the 6.97 million outstanding shares.</br></br>A group of investors led by the Bass family of Texas said yesterday it had raised its stake in Texaco Inc. to 9.8 percent from 7.2 percent.