Braemar Hotels & Resorts Completes $372 Million Sale of Four Seasons Resort Scottsdale
Braemar Hotels & Resorts Inc. (NYSE: BHR) has finalized the sale of the 210-room Four Seasons Resort Scottsdale for $372 million, equivalent to $1.8 million per key. The transaction reflects a 5.8% capitalization rate on net operating income and a 15.0x Hotel EBITDA multiple based on trailing twelve-month data ending September 2026. The company reported an unlevered return of approximately 15% on the investment, which exceeds its internal minimum target of 10%. Management intends to use the sale proceeds, alongside existing cash reserves, to settle outstanding fees owed to their external advisor under a separation agreement. This divestment occurs as Braemar prepares for its transition to a self-managed REIT, expected in mid-November.
Topics: Capital Allocation Hotel Asset Sale Real Estate Investment Trust
Read the full article at PR Newswire
Part of the story Braemar Hotels & Resorts Completes $372 Million Sale of Four Seasons Resort Scottsdale (3 articles)