SaleApr 30, 2026, 05:17 PM
BHR to Sell Park Hyatt Beaver Creek for $176M
AI Summary
Braemar Hotels & Resorts Inc. announced it has entered into a definitive agreement to sell the 193-room Park Hyatt Beaver Creek Resort & Spa for $176 million, or $912,000 per key. The sale price reflects a 5.1% capitalization rate on the property's net operating income for the trailing 12 months ended December 2025. The company has received a $6.5 million non-refundable earnest money deposit and plans to use the net proceeds to redeem its outstanding convertible notes in June. The transaction is anticipated to close in May 2026.
Key Highlights
- Braemar Hotels & Resorts entered agreement to sell 193-room Park Hyatt Beaver Creek Resort & Spa.
- Sale price is $176 million, equating to $912,000 per key.
- The sale represents a 5.1% capitalization rate on net operating income for the 12 months ended December 2025.
- Company received a $6.5 million non-refundable earnest money deposit.
- Net proceeds from the sale are intended to redeem outstanding convertible notes in June.
- The transaction is expected to close in May 2026, subject to customary conditions.