WASHINGTON (dpa-AFX) - 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.
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