Host hotels & resorts acquires 1 hotel nashville and embassy suites by hilton nashville downtown

Bethesda, md., may 01, 2024 (globe newswire) -- host hotels & resorts, inc. (nasdaq: hst) (the “company”), the nation's largest lodging real estate investment trust, today announced that it has acquired the fee simple interest in a two-hotel complex comprising the 215-room 1 hotel nashville and the 506-room embassy suites by hilton nashville downtown (together, the “property”) for approximately $530 million in cash. the acquisition price represents a 12.6x ebitda multiple or a cap rate of approximately 7.4% on the property's 2024 estimated results1.
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