Hyatt Aviara Resort Acquired by Xenia Hotels

0

Xenia Hotels and Resorts (NYSE:XHR) acquires Hyatt Aviara Resort, Golf Club & Spa, 327-room resort in Carlsbad, CA, for $170M, or about $520,000 per key.

Purchased resort at price “substantially below” replacement cost and below those of comparable resorts in the region.

Doesn’t see hotel materially adding to XHR’s EBITDA during the rest of 2018.

Sees “substantial” opportunities to improve financial performance at the resort through asset management initiatives and a capital plan to boost the resort’s competitive positioning.

LEAVE A REPLY

Please enter your comment!
Please enter your name here