article thumbnail

Ashford Hospitality Trust Closes on Hotel Sale, Gives Asset Update

Lodging

announced that it has closed on the sale of the 85-room Hampton Inn in Lawrenceville, Georgia for $8.1 percent capitalization rate on trailing 12-month net operating income through March 2024. DALLAS, Texas—Ashford Hospitality Trust, Inc. million ($95,300 per key). The sale price represented a 6.0

article thumbnail

Pebblebrook Hotel Trust Closes Sale of Hotel Monaco Seattle

Lodging

BETHESDA, Maryland—Pebblebrook Hotel Trust announced that it closed on the sale of the 189-room Hotel Monaco Seattle in Seattle, Washington, for $63.3 For the trailing twelve months ended March 31, 2023, the hotel’s net operating income was $1.6 percent net operating income capitalization rate.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Ashford Hospitality Trust Sells The Residence Inn Salt Lake City

Hospitality Net

The sale is expected to be completed in early March and is subject to normal closing conditions. capitalization rate on 2023 net operating income, or 18.2x capitalization rate on 2023 net operating income, or 14.0x capitalization rate on 2023 net operating income, or 14.0x

article thumbnail

Pebblebrook completes sale of Hotel Zoe Fisherman’s Wharf

Hotel Business

Pebblebrook Hotel Trust has closed on the sale of the 221-room Hotel Zoe Fisherman’s Wharf in San Francisco for $68.5 30, the hotel’s net loss was $1.2 million, its net operating income was $2.2 net operating income capitalization rate (assuming a capital reserve of 4.0%

article thumbnail

Pebblebrook completes sale of Hotel Monaco Seattle

Hotel Business

Pebblebrook Hotel Trust has closed on the sale of the 189-room Hotel Monaco Seattle for $63.3 For the trailing 12 months ended March 31, the hotel’s net operating income was $1.6 net operating income capitalization rate. net operating income capitalization rate.

article thumbnail

Ashford to sell Hilton Boston Back Bay for $171M

Hotel Business

The sale is expected to be completed in March and is subject to normal closing conditions. 31, 2023, the hotel’s net income was $2.3 million, its net operating income was $14.9 capitalization rate on 2023 net operating income, or 12.3x For the trailing 12 months ended Dec.

article thumbnail

Pebblebrook completes sale of Hotel Vintage Seattle

Hotel Business

Pebblebrook Hotel Trust has closed on the sale of the 125-room Hotel Vintage Seattle for $33.7 For the trailing 12 months ended March 31, the hotel’s net operating income was $800 thousand, and its hotel EBITDA was $1.1 net operating income capitalization rate. million to a third party.