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16 August 2018
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Hyatt Hotels Corp disposes off luxury portfolio for almost $1B

01 March 18 - Irene Theofanidou
Hyatt Hotels Corp disposes off luxury portfolio for almost $1B

COMPANIES

Solum Property Solutions

Consultant - GREECE

PEOPLE

Hyatt Hotels Corporation has reached a definitive agreement with Host Hotels & Resorts for the sale of the 301-room Andaz Maui at Wailea Resort; the 668-room Grand Hyatt San Francisco; and the 454-room Hyatt Regency Coconut Point Resort and Spa for approximately $1 billion.

 

According to hotelbusiness.com, the sale reflects a blended EBITDA multiple of approximately 16x based on Hyatt’s 2018 pro-forma estimates.

Hyatt will continue to manage the three hotels under long-term management agreements.

The transaction is expected to close near the end of March. Two of the three hotels, Andaz Maui and Grand Hyatt San Francisco, reflect a combined attributed sale value of approximately $800 million and form part of Hyatt’s ongoing $1.5-billion permanent sell-down program.

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