Host Hotels Resorts, Inc. Acquires Bakers Cay Resort Key Largo for $200 Million
BETHESDA, Md., July 06, 2021 (GLOBE NEWSWIRE) -- Host Hotels Resorts, Inc. (NASDAQ: HST), the nation''s largest lodging real estate investment trust (the "Company"), today announced that it has acquired the fee simple interest in the 200-room Bakers Cay Resort Key Largo, Curio Collection for approximately $200 million in cash. The purchase price represents an estimated 6.2% capitalization rate and a 14.5x EBITDA multiple based on 2021 property forecasts. ( 1)
Host Hotels Resorts, Inc. Acquires Bakers Cay Resort Key Largo for $200 Million
BETHESDA, Md., July 06, 2021 (GLOBE NEWSWIRE) -- Host Hotels Resorts, Inc. (NASDAQ: HST), the nation''s largest lodging real estate investment trust (the "Company"), today announced that it has acquired the fee simple interest in the 200-room Bakers Cay Resort Key Largo, Curio Collection for approximately $200 million in cash. The purchase price represents an estimated 6.2% capitalization rate and a 14.5x EBITDA multiple based on 2021 property forecasts. ( 1)