Inclusive of the incentives offered by Hyatt, the net purchase price implies a value of approximately $352,000 per key and represents an 11.1x multiple on the midpoint of the Company’s estimate of 2024 hotel EBITDA and a 8.0% capitalization rate based on the midpoint of projected hotel net operating income. The acquisition will be funded from cash on hand using a portion of the sale proceeds from the previously completed disposition of Boston Park Plaza.
The Company currently expects to…
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