Host Hotels & Resorts, Inc. Acquires Four Seasons Resort Orlando at Walt Disney World® Resort for $610 million
Located within Walt Disney World® Resort, one of the most visited destination resorts in the world, the hotel sits on 289 acres, provides complimentary transport to four Walt Disney World® Resort theme parks, and is the only
Risoleo continued, “Our ability to execute on this off-market acquisition underscores the benefits of our prudent and disciplined capital allocation approach that emphasized maximizing balance sheet capacity and liquidity toward the end of the cycle. Our strong financial foundation of
- Acquired for
$610 millionor $1.4 millionper key, representing a 4.7% capitalization rate, 16.8x EBITDA multiple based on 2019 results1
2019 Resort Performance:
- Generated RevPAR of
$561, Total RevPAR of $923and EBITDA/key of $81,5002, which represents 90% growth since 2016
- Include 55,000 square feet of meeting space, six food and beverage outlets, five pools, three tennis courts, a 13,000 square foot spa, an 18-hole golf course and golf club, and
Explorer Island, a five-acre family-oriented water park / entertainment area
Walt Disney World® Resort:
- Four Seasons Resort Orlando at Walt Disney World® Resort offers complimentary transport to four Walt Disney World® Resort theme parks, on-site character breakfast, in-room celebrations, and a
Disney Planning Center.
1 Consistent with industry standard, we calculate the capitalization rate as the ratio of property’s net operating income to its purchase price and the EBITDA multiple as the ratio of the purchase price to the property’s EBITDA. Both Net Operating Income and EBITDA are non-GAAP measures. The comparable GAAP metrics utilizing net income are the ratio of net income to the purchase price of 3.2% and the ratio of the purchase price to net income of 31.6x. The property’s 2019 net income was
2 The property’s 2019 net income/key was
For additional information on the acquisition, please refer to the Four Seasons Resort Orlando at Walt Disney World® Resort investor presentation located in the investor presentation section of the Company’s website.
About Host Hotels & Resorts
Host Hotels &
Chief Financial Officer
Source: Host Hotels & Resorts, Inc.