Among
the noteworthy deals of the past week was Park Hotels & Resorts’ sale of
the Hyatt Centric Fisherman’s Wharf.
SAN FRANCISCO
— Park Hotels & Resorts has completed the sale of the 316-key Hyatt Centric
Fisherman’s Wharf in San Francisco for $80 million. The San Francisco Business
Times reported the buyer, HCF Wharf Owner LLC, is tied to New York-based EOS
Investors LLC.
The sale
price represents 64.0x 2024 EBITDA of the hotel and represents a $253,165 price
per room.
The
transaction is part of Park’s plan to divest $300 million to $400 million of
non-core hotel assets in 2025. The proceeds are earmarked for reinvestment into
the company’s return on investment projects and for other general corporate
purposes.
To download
our list of deals from the past week in Excel format, click here.