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has closed on the previously announced sale of the 369-room Seattle Marriott Waterfront for $145 million ($393,000 per key) to a joint venture between Sixth Street Partners and Riller Capital. Including anticipated capital expenditures of $7 million, the sale price represents an 8.1% Braemar Hotels & Resorts Inc.
The sale is expected to be completed in June and is subject to normal closing conditions. The company provides no assurances that the sale will be completed on these terms or at all. When adjusted for the company’s anticipated CapEx, the sale price represents a 3.2% capitalization rate on netoperatingincome or 23.6x
Including anticipated capital expenditures of $7 million, the sale price represents an 8.1% capitalization rate on netoperatingincome for the trailing 12 months ended May 31. “We are pleased to announce the planned sale of the Marriott Seattle Waterfront,” said Richard J.
The sale is expected to be completed in January and is subject to normal closing conditions. The company provides no assurances that the sale will be completed on these terms or at all. When adjusted for the company’s anticipated capital expenditures, the sale price represents a 5.9% Ashford Hospitality Trust Inc.
AIâs ability to process vast amounts of data can lead to more dynamic pricing strategies, resulting in meaningful improvements to netoperatingincome but independent hoteliers have long struggled with black-box pricing models that leave them guessing about the logic behind rate changes.
completed the sale of the 252-room Hilton New Orleans St. Charles for a gross sale price of $47 million, or approximately $187,000 per key. The sale price represents a 10.1x cap rate on 2024 hotel netoperatingIncome. cap rate on hotel netoperatingincome for 2024.
The hotel is currently absentee&owned and operated by a third&party management company. A more hands&on owner or operator could improve the hotels operations by reducing expenses and increasing the netoperatingincome (NOI).
19, 2025, it completed the sale of the 410-room Westin Washington, D.C. The sales price represents an 11.2x percent capitalization rate on 2024 hotel netoperatingincome, or a capitalization rate of 5.6 The sales price represents an 11.2x City Center for a contract price of $92.0
multiple and a 10% capitalization rate on the property’s hotel EBITDA and netoperatingincome for the 12 months ended Feb. “We are pleased to have completed the sale of Fairmont Dallas, which opened in 1969 and which we acquired in 2011 for $69 million,” said Marcel Verbaas, chair/CEO, Xenia.
NEW YORK—MCR announced it has completed the sale of the 100-room Residence Inn by Marriott Philadelphia Langhorne located in Langhorne, Pennsylvania for $22.1 By completing its business plan, MCR doubled the hotel’s netoperatingincome throughout its ownership. million, or $221,000 per key.
on the sale of the Marriott Waterfront Seattle to a joint venture between Sixth Street Partners and Riller Capital. The 369-key hotel is operated under a long-term management agreement with Marriott International. The sale price of $145 million ($393,000 per key) with anticipated capital expenditures of $7 million represents an 8.1
BETHESDA, Maryland—Pebblebrook Hotel Trust announced that it closed on the sale of the 189-room Hotel Monaco Seattle in Seattle, Washington, for $63.3 For the trailing twelve months ended March 31, 2023, the hotel’s netoperatingincome was $1.6 million sales price reflecting a 30.7x million to a third party.
announced that it has completed the sale of the 252-room Hilton New Orleans St. Charles for a gross sale price of $47 million, or approximately $187,000 per key. The sale price represents a 10.1x percent cap rate on 2024 Hotel NetOperatingIncome. ALISO VIEJO, California—Sunstone Hotel Investors, Inc.
announced that it has closed on the sale of the 85-room Hampton Inn in Lawrenceville, Georgia for $8.1 The sale price represented a 6.0 percent capitalization rate on trailing 12-month netoperatingincome through March 2024. DALLAS, Texas—Ashford Hospitality Trust, Inc. million ($95,300 per key).
Pebblebrook Hotel Trust has closed on the sale of the 221-room Hotel Zoe Fisherman’s Wharf in San Francisco for $68.5 30, the hotel’s net loss was $1.2 million, its netoperatingincome was $2.2 30, the hotel’s net loss was $1.2 million, its netoperatingincome was $2.2
Pebblebrook Hotel Trust has closed on the sale of the 189-room Hotel Monaco Seattle for $63.3 For the trailing 12 months ended March 31, the hotel’s netoperatingincome was $1.6 million sales price reflecting a 30.7x netoperatingincome capitalization rate. million to a third party.
Pebblebrook Hotel Trust has closed on the sale of the 157-room Hotel Colonnade Coral Gables, Autograph Collection in Coral Gables, FL, for $63 million to a third party. 31, 2022, the hotel’s netoperatingincome was $4.1 Based on the hotel’s operating performance for 2019, the $63 million sales price reflects a 15.4x
Pebblebrook Hotel Trust has closed on the sale of the 125-room Hotel Vintage Seattle for $33.7 For the trailing 12 months ended March 31, the hotel’s netoperatingincome was $800 thousand, and its hotel EBITDA was $1.1 million sale price reflecting a 31.0x netoperatingincome capitalization rate.
Pebblebrook Hotel Trust has closed on the sale of the 151-room The Heathman Hotel in Portland, OR, for $45 million to a third party. 31, 2022, the hotel’s netoperatingincome was $1 million, and its hotel EBITDA was $1.2 Based on the hotel’s operating performance for 2019, the $45 million sales price reflects a 10.7x
For the trailing twelve months ended March 31, 2023, the hotel’s netoperatingincome was $1.6 million sales price reflecting a 30.7x netoperatingincome capitalization rate. million, and its Hotel EBITDA was $2.1 million, with the $63.3 EBITDA multiple and a 2.5%
The 114&key dual&branded Motel 6/Studio 6 in Galveston, Texas, is up for sale. Despite recent renovations, the property is underperforming, creating an opportunity for an experienced operator to increase revenue and netoperatingincome.
The sale is expected to be completed in March and is subject to normal closing conditions. The company provides no assurances that the sale will be completed on these terms or at all. 31, 2023, the hotel’s netincome was $2.3 million, its netoperatingincome was $14.9 2023 hotel EBITDA.
Hotel profitability analysis is a multifaceted approach that considers revenue generation, cost management, and operational efficiency. These metrics help in distributing the income, expenses as well as profit your property is making for all its inventory. GOPPAR GOPPAR stands for Gross Operating Profit per Available Room.
The 77&key Sonesta Essential Hotel at Baton Rouge Airport is up for acquisition, offering a profitable opportunity for a hands&on owner/operator to restructure the hotel's operations, improve revenues, and increase netoperatingincome.
The hotel offers a value&added opportunity for a new owner to restructure operations to boost netoperatingincome. The 135&key SureStay by Best Western Beaumont, a limited&service hotel located in the Beaumont&Port Arthur metropolitan area in Southeast Texas, is up for acquisition.
on the sale of the 144-room Residence Inn Salt Lake City Cottonwood to the PEG Companies for $19.2 When adjusted for the anticipated capital expenditures, the sale price represented a 4.6% capitalization rate on 2023 netoperatingincome, or 18.2x RobertDouglas has advised Ashford Hospitality Trust Inc.
on the sale of the 144-room Residence Inn Salt Lake City Cottonwood to the PEG Companies for $19.2 When adjusted for the anticipated capital expenditures, the sale price represented a 4.6% capitalization rate on 2023 netoperatingincome, or 18.2x RobertDouglas has advised Ashford Hospitality Trust Inc.
has closed on the sale of the Hilton La Jolla Torrey Pines for $165 million ($419,000 per key). Including anticipated capital expenditures of $40 million, the sale price represents a 7.2% capitalization rate on netoperatingincome for the trailing twelve months ended March 31. Braemar Hotels & Resorts Inc.
has closed on the sale of the 85-room Hampton Inn Lawrenceville in Lawrenceville, GA, for $8.1 The sale price represented a 6% capitalization rate on trailing 12-month netoperatingincome through March. Ashford Hospitality Trust Inc. million ($95,300 per key). appeared first on hotelbusiness.com.
Inclusive of the incentives offered by Hyatt, the net purchase price implies a value of approximately$352,000 per key and represents an 11.1x multiple on the midpoint of the company’s estimate of 2024 hotel EBITDA and an 8% capitalization rate based on the midpoint of projected hotel netoperatingincome.
Asking too high of a price relative to current market expectations, gross revenues, and netoperatingincomes will simply mean hotel buyers will ignore the offering. Buyers consider room revenue, netoperatingincome, price per key, age, condition, market factors, and PIP costs, when they evaluate potential hotel investments.
Chico was acquired from an individual owner-operator and is an independent resort, completely unencumbered by brand and management agreements. capitalization rate on 2022 netoperatingincome (NOI). The purchase price for the resort and adjacent ranch is $33 million. The company expects Chico will generate a 10.5%
Sean Hennessey, associate professor, NYU SPS Tisch Center of Hospitality, and a contributor to the report, added, “Although recessionary fears and unfavorable interest rates may dampen transaction activity, survey respondents remained confident that the improving operational trends will sustain the lodging sector’s trend of profit improvement.”
These metrics encompass a wide range of areas, from financial figures like revenue per available room (RevPAR) and average daily rate (ADR) to operational aspects such as occupancy rates and guest satisfaction scores. Hotel operations are incredibly varied, with many moving parts that interact with and support one another.
For example, you might have set a goal of achieving 300 room night sales in the month of May. Run reports that detail data analysis and operational activities. TrevPAR – Total revenue per available room takes into account all the revenue from your property, not just your room sales. Set a specific target for your KPI.
Have more motivated sellers- an owner offering an “off market” hotel for sale is typically less motivated to sell and has no open market check on value. It can be rewarding, but it is a totally different business than operating a hotel. Digital marketing cannot be underestimated for getting direct sales, as well as the OTA side.
We’re going to look at: This guide builds on my guide to hotel automation and is focused on hotel operators , though I hope other industry participants will find it useful as well. Because of this, hotel owners – and the operators and brands that work for them – are focusing on top-line revenue growth now more than ever before.
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