host hotels & resorts
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 Enters Into Agreement To Acquire Turtle Bay Resort In Hawaii for $680M
HOST HOTELS & RESORTS | May 29, 2024
BETHESDA, Md., May 29, 2024 -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (“Host” or the “Company”), the nation’s largest lodging real estate investment trust, today announced that it entered into an agreement to acquire the fee simple interest in the 450-room Turtle Bay Resort (the “Resort,”) on the North Shore of Oahu, Hawaii, including a 49-acre land parcel entitled for development, (the “Land Parcel”) for approximately $680 million, net of key money. The purchase price allocation is expected to be $630 million for the Resort and $50 million for the Land Parcel, subject to final appraisal. The acquisition price represe...
Host Hotels & Resorts Acquires 1 Hotel Nashville and Embassy Suites By Hilton Nashville Downtown
HOST HOTELS & RESORTS | May 2, 2024
BETHESDA, Md., May 02, 2024 -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust, today announced that it has acquired the fee simple interest in a two-hotel complex comprising the 215-room 1 Hotel Nashville and the 506-room Embassy Suites by Hilton Nashville Downtown (together, the “Property”) for approximately $530 million in cash. The acquisition price represents a 12.6x EBITDA multiple or a cap rate of approximately 7.4% on the Property’s 2024 estimated results1. The Property is expected to be among Host’s top-25 assets based on estimated full year 2024 ...
Host Hotels & Resorts Provides Update on Maui Wildfires and Other Recent Weather Events
HOST HOTELS & RESORTS | September 7, 2023
BETHESDA, Md., Sept. 07, 2023 — Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust, today provided an update regarding the impact of the Maui wildfires and other recent weather events on its hotels and the communities where they operate. As the largest hotel real estate owner on Maui with a presence for over 20 years, Host Hotels & Resorts shares a deep connection to the island’s people and culture. Lahaina has long been revered as a sacred place and home to some of the island’s most precious historical and cultural assets. The August wildfires touched ev...
JW Marriott Houston by The Galleria Completes Multimillion-Dollar Phased Renovation
JW Marriott Houston by The Galleria | March 22, 2023
HOUSTON – March 22, 2023 - Located within Houston’s thriving uptown epicenter, JW Marriott Houston by The Galleria recently unveiled the last multi-million dollar renovation phase of the guest rooms, suites and corridors to finalize the hotel’s complete transformation. The enhancements join the refreshed meeting and public spaces, lobby and executive lounge which were finished in 2019. The revamped spaces reflect thoughtful design choices by Parker-Torres Design that represent Houston’s rich history and culture, while creating intentional transitions throughout the hotel’s interior. Attention was given to creating spaces that enhan...
Island Capital Group and MCR Acquire Sheraton New York Times Square Hotel for $373M
Island Capital | April 20, 2022
Joint venture marks the second high-profile hotel transaction between Island Capital and MCR and demonstrates continued optimism in the recovery of New York City's hospitality industry NEW YORK, April 20, 2022 -- MCR, a leading hotel investor and the third-largest hotel owner-operator in the United States, and Island Capital Group LLC ("Island Capital"), a leading international real estate merchant bank that controls a diverse group of real estate services companies engaged in fund management, principal investment, and financial advisory and consulting services, today announced that they have jointly acquired the Sheraton New York Times ...
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 The Alida, Savannah for $103 Million
Host Hotels & Resorts | December 21, 2021
BETHESDA, MD - December 21, 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 Alida, Savannah, a 173-room boutique hotel, for approximately $103 million in cash. This newly constructed hotel opened in October 2018 and benefits from soft branding in Marriott’s Tribute Portfolio. Rooms average 371 square feet with high ceilings, hardwood floors, built-in window seats and marble bathrooms. The hotel offers 11,570 square feet of meeting space (5,170 indoor), four F&B outlets including a roof...
