Host Hotels & Resorts, Inc. (HST), the largest lodging real estate investment trust (REIT), has divested the Sheraton New York Times Square Hotel for a consideration of approximately $373 million. The transaction amount represents a 28x EBITDA multiple of the 1,780 room hotel’s 2019 earnings before interest, taxes, depreciation, and amortization (EBITDA). The transaction includes about $136 million in foregone capital expenditures over the next five-year period. Additionally, Host is also providing a $250 million bridge loan to the acquirer. Management Weighs In The President and CEO of Host, James F.
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Host Hotels and Resorts (NYSE:HST)
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