Braemar Hotels & Resorts Completes Acquisition Of Four Seasons Resort Scottsdale At Troon North
Acquiring Company
Braemar Hotels & Resorts
Acquired Company
Four Seasons Hotel
DallasReal EstateHospitalityLeisureHotelTravelTourismHospitalityDescription
Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced that it has completed the acquisition of the luxury 210-room Four Seasons Resort Scottsdale at Troon North in North Scottsdale, previously announced on November 1, 2022. The total consideration for the acquisition was $267.8 million. The acquisition was funded with cash on hand and no common equity was issued to fund the acquisition. As previously announced, of the total consideration, $250 million ($1.2 million per key) is allocated to the existing resort and represents a capitalization rate of 5.7% on hotel net operating income of $14.2 million and a 15.2x hotel EBITDA multiple, based on unaudited operating financial data provided by the sellers and forecasted financial results for 2022. The Company expects to realize a stabilized yield of approximately 8.0% on its investment in the next three to five years. The 5.7 acres of excess developable land has been preliminarily allocated $17.8 million of the purchase price and is zoned for commercial use. The potential uses include new hotel keys, as well as fitness and health studios, restaurants, and accessory buildings. Final entitlements will be based on designs that are subject to the approval of the Scottsdale Design Review Board.
Quick answer
Braemar Hotels & Resorts is acquiring Four Seasons Hotel, announced December 1, 2022. Braemar Hotels & Resorts is based in Dallas, Texas, United States.
- How much did Braemar Hotels & Resorts pay for Four Seasons Hotel?
- The deal value was not disclosed.
- What does Braemar Hotels & Resorts do?
- Braemar Hotels & Resorts Inc. is engaged in the hospitality sector, primarily focusing on the acquisition and management of hotels and resorts in the United States.
- Where are Braemar Hotels & Resorts and Four Seasons Hotel based?
- Braemar Hotels & Resorts is based in Dallas, Texas, United States.
- Who are the decision-makers at Braemar Hotels & Resorts?
- Fundz holds 1 contact at Braemar Hotels & Resorts. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Other recent acquisitions in Real Estate and Hospitality
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- Braemar Hotels & Resorts Announces Agreement To Acquire Four Seasons Resort Scottsdale At Troon North (November 1, 2022)
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Frequently asked
Who acquired Four Seasons Hotel?
Four Seasons Hotel was acquired by Braemar Hotels & Resorts, based in Dallas. The deal was reported on December 1, 2022. Braemar Hotels & Resorts Inc. is engaged in the hospitality sector, primarily focusing on the acquisition and management of hotels and resorts in the United States. Braemar Hotels & Resorts is publicly traded (BHR) and operates in Real Estate.
When did Braemar Hotels & Resorts acquire Four Seasons Hotel?
Braemar Hotels & Resorts's acquisition of Four Seasons Hotel was reported on December 1, 2022. Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced that it has completed the acquisition of the luxury 210-room Four Seasons Resort Scottsdale at Troon North in North Scottsdale, previously announced on November 1, 2022. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Four Seasons Hotel do?
Four Seasons Hotels and Resorts opened its first hotel in 1961, and since that time has been dedicated to perfecting the travel experience through continual innovation and the highest standards of hospitality. It is privately held, operating in Hospitality.
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