Thomas J. Baltimore Jr. Of Park Hotels & Resorts Sells Hyatt Centric Fisherman's Wharf For $80M

The property involved in the transaction is the Hyatt Centric Fisherman’s Wharf, a hotel located at 555 North Point Street in San Francisco. The sale price for this asset was $80,000,000, equating to $253,165 per key for its 316 rooms. The transaction represents a multiple of 64 times the projected EBITDA for 2024.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $80,000,000
• Address: 555 North Point Street - Hyatt Centric Fisherman’s Wharf
• Market: San Francisco
• Keys: 316
• PPK: $253,165
• Seller: Thomas J. Baltimore Jr. - Park Hotels & Resorts

Thomas J. Baltimore Jr. represented Park Hotels & Resorts in this sale. The proceeds from this transaction are intended to support ROI projects and general corporate use, as part of Park Hotels & Resorts' strategy to divest $300 million to $400 million in non-core assets during the year.