- Park Hotels & Resorts (NYSE:PK) closes on the sale of the 152-room Hilton Nuremberg in Germany for gross proceeds of $17.5M, or $115,000 per key.
- When adjusted for Park's anticipated capital expenditures of $10.1M for the hotel, the sale price represents a 3.5% capitalization rate on the hotel's 2018 net operating income, or 21.2x the hotel's 2018 EBITDA.
- Park has sold 15 non-core assets for almost $590M during the past 18 months.
- Previously: Park Hotels sells Pointe Hilton Squaw Peak for $51.4M (Feb. 7)
Park Hotels sells Hilton Nuremberg for $17.5M
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Symbol | Last Price | % Chg |
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PK | - | - |
Park Hotels & Resorts Inc. |