Sunstone Hotel Investors Sells Boston Park Plaza Hotel For $370M

The Boston Park Plaza, a 1,060-room hotel located at 50 Park Plaza in Boston, MA, has been sold for a gross sale price of $370 million. The transaction represents a 12.1x multiple on Hotel Adjusted EBITDAre and a 7.1% cap rate on Hotel Net Operating Income for the trailing four quarters. This sale marks a successful transaction for Sunstone Hotel Investors, Inc., who acted as the seller.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $370,000,000
• Keys: 1,060
• Price per Key: $349,057

Sunstone Hotel Investors, Inc., represented by Bryan Giglia, conducted the sale of the Boston Park Plaza. Sunstone Hotel Investors, Inc. is a prominent player in the hospitality industry, and this successful transaction further establishes their presence in the market.