This roundup features the latest hotel transactions in the U.S. hotel industry.
Encore Boston Harbor
Rooms: 671
Location: Boston
Price, Including Debt: $1.7 billion
Price Per Room: $2.43 million
Buyer: Realty Income Corp.
Seller: Wynn Resorts
Date of Transaction: Dec. 1, 2022
Takeaway: The transaction is a sale of the land and real estate assets of Encore Boston Harbor. Wynn will remain operator of the property via a triple net lease arrangement with Realty Income.
Four Seasons Resort Scottsdale at Troon North
Rooms: 210
Location: Scottsdale, Arizona
Price, Including Debt: $267.8 million
Price Per Room: $1.2 million
Buyer: Braemar Hotels & Resorts
Seller: Dajia
Date of Transaction: Dec. 1, 2022
Takeaway: The total consideration from the acquisition was $267.8 million. Of the total consideration, $250 million ($1.2 million per key) is issued toward the existing resort. The deal was previously announced on Nov. 1, 2022.
Best Western Staunton Inn
Rooms: 80
Location: Staunton, Virginia
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: Dhruv Shah
Seller: Dominion Lodging Inc.
Date of Transaction: Dec. 1, 2022
Takeaway: Brokerage firm Mumford Company represented the seller. Price of the sale has not yet been disclosed.
Sleep Inn Staunton, Virginia
Rooms: 87
Location: Staunton, Virginia
Price, Including Debt: $4.5 million
Price Per Room: $51,724
Buyer: HWY81 Hotel
Seller: Dominion Lodging Inc.
Date of Transaction: Oct. 26, 2022
Takeaway: Mumford Company represented the seller.
Hampton Inn & Suites Birmingham East Irondale
Rooms: 99
Location: Birmingham, Alabama
Price, Including Debt: $8.5 million
Price Per Room: $85,858
Buyer: N/A
Seller: Chiman Patel
Date of Transaction: Nov. 18, 2022
Takeaway: Berkadia represented the seller.
SpringHill Suites Lake Charles
Rooms: 109
Location: Lake Charles, Louisiana
Price, Including Debt: $12.7 million
Price Per Room: $117,593
Buyer: N/A
Seller: Rialto Capital Management
Date of Transation: Nov. 1, 2022
Takeaway: Berkadia represented the seller.