Braemar hotels & resorts announces sale of hilton la jolla torrey pines

Dallas , july 17, 2024 /prnewswire/ -- braemar hotels & resorts inc. (nyse: bhr) ("braemar" or the "company") today announced that it has closed on the previously announced sale of the hilton la jolla torrey pines for $165 million ($419,000 per key).  including anticipated capital expenditures of $40 million, the sale price represents a 7.2% capitalization rate on net operating income for the trailing twelve months ended march 31, 2024.
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