Braemar to Sell Park Hyatt Beaver Creek Resort & Spa for $176M with 5.1% Cap Rate
Braemar Hotels & Resorts entered a definitive agreement to sell its 193-room Park Hyatt Beaver Creek Resort & Spa for $176 million ($912,000 per key) and received a $6.5 million non-refundable deposit. The deal implies a 5.1% cap rate on $9.0 million of net operating income while funding June convertible note redemptions.
1. Sale Agreement Details
Braemar Hotels & Resorts entered a definitive agreement to sell the 193-room Park Hyatt Beaver Creek Resort & Spa for $176 million, equivalent to $912,000 per key, and has secured a $6.5 million non-refundable earnest money deposit.
2. Valuation and Operating Metrics
The transaction reflects a 5.1% capitalization rate based on $9.0 million of trailing net operating income, supported by $10.8 million of hotel EBITDA and a 4% capital expense reserve deducted from gross revenue.
3. Use of Proceeds and Timeline
Net proceeds from the sale will be applied to redeem Braemar’s outstanding convertible notes in June, and the closing is expected in May 2026, subject to customary conditions and no assurances of completion.