Host hotels & resorts, inc. acquires hyatt regency austin

Bethesda, md., march 17, 2021 (globe newswire) -- host hotels & resorts, inc. (nasdaq: hst) (the “company”), the nation's largest lodging real estate investment trust (“reit”), today announced that it has acquired the fee simple interest in the 448-room hyatt regency austin in austin, texas for approximately $161 million in cash. the purchase price represents a 10.0% capitalization rate and an 8.8x ebitda multiple based on 2019 actual results(1) and reflects a 20-25% discount to pre covid-19 pricing based on comparable publicly-disclosed hotel sales.( 2 ) hyatt will continue to manage hyatt regency austin under a long-term management agreement.
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