WASHINGTON (dpa-AFX) - Host Hotels & Resorts, Inc. (HST) Tuesday said it has acquired the 444-room Four Seasons Resort Orlando at Walt Disney World Resort for about $610 million in cash.
CEO James Risoleo said, 'Four Seasons Resort Orlando at Walt Disney World Resort is a truly iconic and irreplaceable property that is well-positioned to benefit from significant demand as the pandemic subsides and the 18-month celebration of Walt Disney World's 50th anniversary begins in October. A strong market leader with a 2019 RevPAR Index over 215, this resort is now Host Hotels' highest-ranked property based on 2019 RevPAR and Total RevPAR, and fifth highest based on EBITDA per key.'
The company acquired the resort for $610 million or $1.4 million per key, representing a 4.7% capitalization rate, 16.8x EBITDA multiple based on 2019 results.
The resort generated RevPAR of $561, total RevPAR of $923 and EBITDA/key of $81,5002, which represents 90% growth since 2016.
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