Host Hotels & Resorts has been on an asset acquisition spree since the beginning of the year and doesn’t plan on stopping now.
On the company’s second quarter earnings call, President and CEO James Risoleo said the real estate investment trust acquired two properties subsequent to quarter end.
He said the first of those properties is the 200-room Baker’s Cay Resort Key Largo, Curio Collection by Hilton, which the REIT purchased for $200 million. The resort was closed for much of 2019 to undergo an extensive renovation.
Host also acquired a 223-room hotel in Houston formerly known as Hotel Alessandra for $65 million. The hotel completed construction and opened in 2017 at a cost of $90 million and is currently closed. Risoleo said the company acquired the property on July 2 prior to a scheduled foreclosure auction.