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Mark Hoplamazian Of Hyatt Hotels Corporation Acquires Standard International Hotel For $150M
SOLD
$150,000,000
New York
See Similar DealsHotel
Sold 10/02/2024
SOLD
Mark Hoplamazian Of Hyatt Hotels Corporation Acquires Standard International Hotel For $150M
848 Washington Street
See Similar DealsHotel
Sold 10/02/2024
Summary
NEW YORK
Asset Type:Hotel
Transaction Type:Sale
The transaction involves the sale of 22 asset-light hotels and over 30 future projects. The acquisition includes notable properties such as The Standard, Singapore, and Bunkhouse’s Hotel Saint Augustine. Hyatt Hotels Corporation has completed this acquisition from Standard International for a base price of $150 million, with the potential for an additional $185 million.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $150,000,000
- Buyer: Mark Hoplamazian - Hyatt Hotels Corporation
- Seller: Amar Lalvani - Standard International
- Additional Potential Amount: $185,000,000
Hyatt Hotels Corporation will form a dedicated lifestyle group, which will be led by Amar Lalvani and based in New York City. This strategic move aims to leverage Hyatt's extensive network while enhancing the company's lifestyle offerings.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,999,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$532,918.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$711,076.53
Annual Debt Service$8,532,918.32
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