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Host Hotels & Resorts Acquires 1 Hotel Central Park in New York City
Host Hotels & Resorts, Inc. | August 1, 2024
BETHESDA, Md., August 1, 2024-- Host Hotels & Resorts, Inc. (NASDAQ: HST) (“Host” or the “Company”), the nation’s largest lodging real estate investment trust, today announced that it has acquired the fee simple interest in the 234-room 1 Hotel Central Park (the “Property”) for approximately $265 million in cash. The acquisition price represents an 11.1x EBITDA multiple or a cap rate of approximately 8.1% on the Property’s 2024 estimated results1. The Property is expected to be among Host’s top-10 assets based on estimated full year 2024 results, with expected RevPAR of $545, Total RevPAR of $735, and EBITDA per key o...
Host Hotels & Resorts Acquires 319-Room Hotel Van Zandt for $246M
Host Hotels & Resorts | February 3, 2022
BETHESDA, Md., Feb. 03, 2022 -- 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 Hotel Van Zandt, a 319-room luxury lifestyle hotel in Austin, Texas for a purchase price of approximately $246 million including its $4 million FF&E reserve. The net acquisition price of approximately $242 million represents a 13.2x multiple on 2019 EBITDA1 and stabilization is expected in the 2025-2027 timeframe at approximately 10-12x EBITDA1. The Company funded the acquisition with approximately $140 million in ...
Host Hotels & Resorts Acquires 305-Room W Hollywood for $219 Million
Host Hotels & Resorts | March 8, 2017
BETHESDA, Md., March 08, 2017 -- Host Hotels & Resorts, Inc. (NYSE:HST) today announced the acquisition of the 305-room W Hollywood (the "Hotel"), which includes 10,800 square feet of high-quality retail space and seven prominent supergraphic billboard signs for $219 million. The Hotel opened in 2010 and is centrally located in the dynamic and rapidly growing sub-market of Hollywood. The surrounding area features a strong base of business and transient demand generators and serves as a hub for a thriving creative community and entertainment related companies. The Hotel is also fully unencumbered by brand and management upon sale beg...
