Host Continues Acquisitions Spree, Sees Opportunity For More Deals
Hotel REIT Acquires Two Hotels Subsequent to End of Second Quarter
Host Hotels & Resorts has been on an asset acquisition spree since the beginning of the year and doesn't plan on stopping now.
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He said the first of those properties is the 200-room Baker's Cay Resort Key Largo, Curio Collection by Hilton, which the REIT purchased for $200 million. The resort was closed for much of 2019 to undergo an extensive renovation.
Host also acquired a 223-room hotel in Houston formerly known as Hotel Alessandra for $65 million. The hotel completed construction and opened in 2017 at a cost of $90 million and is currently closed. Risoleo said the company acquired the property on July 2 prior to a scheduled foreclosure auction.