Host Hotels pays $200M for 200-room Florida Keys asset

Host Hotels & Resorts has purchased the fee simple interest in a hotel in the Florida Keys for $200 million in cash in an off-market transaction. “We expect this resort to deliver over $300 of RevPAR and $69,000 of EBITDA per key in 2021, ranking eighth on both metrics in Host’s 2019 pro forma portfolio,” says CEO James Risoleo.