Among the noteworthy deals of the past week was Ashford Hospitality Trust’s sale of the Hilton Houston NASA Clear Lake in Houston.
DALLAS –
Ashford Hospitality Trust (AHT) has closed on the sale of the Hilton Houston NASA
Clear Lake in Houston, Texas, for $27 million and the sale of the Residence Inn
Evansville East in Evansville, Indiana, for $6 million.
Fischer
Acquisitions and Development is the reported buyer of the Hilton and is
bringing a Margaritaville license to the project, according to the Houston
Business Journal. The project aims to reduce the room count to 170 rooms from
242 and add 30 condominiums.
For Ashford,
when adjusted for its anticipated capital expenditures, the combined sale price
of the two assets represents a 1.3% capitalization rate on net operating income
or a multiple of 45.3 times hotel EBITDA for the 12 months ended July 31, 2025.
Excluding the anticipated capital spend, the combined sale price represents a
2% capitalization rate on net operating income or a multiple of 28.1 times
hotel EBITDA for the 12 months ended July 31, 2025.
Without the
expected capital expenditure, the price of the combined sale reflects a 2%
capitalization rate on net operating income, or a multiple of 28.1 times Hotel
EBITDA for the same period.
Click here
for more on these sales and AHT.
To download
our list of deals from the past week in Excel format, click here.