Braemar Hotels & Resorts Inc. Completes $145 Million Sale of Marriott Seattle Waterfront

Reuters
Aug 11
Braemar Hotels & Resorts Inc. Completes $145 Million Sale of Marriott Seattle Waterfront

Braemar Hotels & Resorts Inc. $(BHR)$ has successfully completed the sale of the 369-room Marriott Seattle Waterfront for $145 million, equating to $393,000 per key. The transaction, which includes anticipated capital expenditures of $7 million, reflects an 8.1% capitalization rate based on the property's net operating income over the trailing 12 months ending May 31, 2025. This strategic divestiture aims to enhance the company's balance sheet and liquidity. Following the sale, Braemar has paid down approximately $88.4 million of debt and retained around $50.8 million in net proceeds. The company has announced that it does not plan to engage in additional property sales for the remainder of the calendar year.

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