Host hotels & resorts acquires hotel van zandt and disposes of sheraton boston

Bethesda, md., feb. 02, 2022 (globe newswire) -- host hotels & resorts, inc. (nasdaq: hst), the nation's largest lodging real estate investment trust (the "company"), today announced that it has acquired the fee simple interest in the hotel van zandt, a 319-room luxury lifestyle hotel in austin, texas for a purchase price of approximately $246 million including its $4 million ff&e reserve. the net acquisition price of approximately $242 million represents a 13.2x multiple on 2019 ebitda1 and stabilization is expected in the 2025-2027 timeframe at approximately 10-12x ebitda1.
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