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Hyatt Centric Fisherman’s Wharf Hotel – Image Credit Hyatt
Park Hotels & Resorts Inc. has successfully completed the sale of the Hyatt Centric Fisherman’s Wharf in San Francisco for $80 million, or $253,000 per key.
The transaction’s price is equivalent to 64.0x the hotel’s 2024 EBITDA. This substantial sum will be used for return on investment (ROI) projects currently in progress within Park’s portfolio and for other general corporate objectives.
This sale comes amid a challenging transaction market and constitutes a significant step towards Park’s strategic goal of disposing of between $300 million and $400 million of non-core hotel assets by 2025. As such, this initiative underscores Park’s ongoing commitment to enhancing the quality of its portfolio.
Since 2017, Park has sold or disposed of 46 hotels, amounting to over $3 billion. This has significantly reshaped their portfolio and strengthened their standing for future growth.
Hyatt Centric Fisherman’s Wharf Hotel – Image Credit Hyatt
Park Hotels & Resorts Inc. has successfully completed the sale of the Hyatt Centric Fisherman’s Wharf in San Francisco for $80 million, or $253,000 per key.
The transaction’s price is equivalent to 64.0x the hotel’s 2024 EBITDA. This substantial sum will be used for return on investment (ROI) projects currently in progress within Park’s portfolio and for other general corporate objectives.
This sale comes amid a challenging transaction market and constitutes a significant step towards Park’s strategic goal of disposing of between $300 million and $400 million of non-core hotel assets by 2025. As such, this initiative underscores Park’s ongoing commitment to enhancing the quality of its portfolio.
Since 2017, Park has sold or disposed of 46 hotels, amounting to over $3 billion. This has significantly reshaped their portfolio and strengthened their standing for future growth.
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
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