logo
  

Host Hotels & Resorts Buys Baker's Cay Resort Key Largo For $200 Mln

Host Hotels & Resorts Inc.?(HST) said that it has acquired the fee simple interest in the 200-room Baker's Cay Resort Key Largo, Curio Collection for about $200 million in cash.

The purchase price represents an estimated 6.2% capitalization rate.

The company expects the resort to deliver over $300 of RevPAR and $69,000 of EBITDA per key in 2021, ranking eighth on both metrics in Host's 2019 pro forma portfolio.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Deutsche Post DHL Group were gaining around 6 percent in the morning trading in Germany after the package delivery and logistic major reported Friday higher profit and revenues in its second quarter with strong demand. Going ahead, the company confirmed its 2022 EBIT guidance of 8.0 billion euros, plus or minus 5 percent, even in consideration of a possible global economic downturn. Chinese e-commerce giant Alibaba Group Holdings Ltd. (BABA) reported Thursday net income for the first quarter halved from last year, hurt by a 1 decline in revenues and a decrease in the market prices of its equity investments in publicly-traded companies. Shares of Deutsche Lufthansa AG were gaining around 6 percent in the morning trading after the German flag carrier reported Thursday a profit in its second quarter, compared to last year's loss, benefited by surge in demand. The company also specified its outlook for the year, and now expects adjusted EBIT to be above 500 million euros for the full year of 2022, in line with current market.
RELATED NEWS
Follow RTT