Host Hotels & Resorts Acquires Baker’s Cay Resort Key Largo for $200 Million

Host Hotels & Resorts | July 6, 2021

BETHESDA, MD - July 6, 2021 -  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 Baker’s 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) James F. Risoleo, President and Chief Executive Officer, said, “We are pleased to announce the off-market acquisition of our first hotel in the Florida Keys which we believe will improve the...