Host Hotels Acquires Disney World Four Seasons for US$610m
Main Photo: The Four Seasons Resort Orlando
Date: May 2021
Location: Walt Disney World Resort, Orlando, Florida, USA
Names: The Four Seasons Resort Orlando
No. of Keys: 444
Seller: The hotel was opened in August 2014, by Silverstein Properties in a JV with Dune Real Estate Partners.
Buyer: Host Hotels & Resorts Inc. has acquired the fee simple interest in the 444-room Four Seasons Resort Orlando at Walt Disney World Resort in Florida for approximately $610 million in cash.
Located within Walt Disney World Resort, the hotel sits on 289 acres, provides complimentary transport to four Walt Disney World Resort theme parks, and is the only AAA Five Diamond-rated hotel in Central Florida, according to the company.
“Four Seasons Resort Orlando at Walt Disney World Resort is a truly iconic and irreplaceable property that is well-positioned to benefit from significant demand as the pandemic subsides and the 18-month celebration of Walt Disney World’s 50th anniversary begins in October,” said James F. Risoleo, president/CEO, Host Hotels. “A strong market leader with a 2019 RevPAR Index over 215, this resort is now Host Hotels’ highest-ranked property based on 2019 RevPAR and total RevPAR, and fifth-highest based on EBITDA per key.”
In 2019, the hotel reported RevPAR of $561, total RevPAR of $923 and EBITDA per key of $81,500, which represents 90% growth since 2016, the company reports.
Risoleo continued, “Our ability to execute on this off-market acquisition underscores the benefits of our prudent and disciplined capital allocation approach that emphasises maximising balance sheet capacity and liquidity toward the end of the cycle. Our strong financial foundation of $2.5 billion in total available liquidity at year-2020, including FF&E reserves, has enabled us to invest in high-quality properties that we expect to elevate our EBITDA growth profile and create long-term value for our shareholders and other stakeholders.”
Amenities at the resort include 55,000 sqf of meeting space, six F&B outlets, five pools, three tennis courts, a 13,000 sqf spa, an 18-hole golf course and golf club, and Explorer Island, a five-acre family-oriented water park/entertainment area. Walt Disney World Resort amenities offered are an on-site character breakfast, in-room celebrations and a Disney Planning Center.
Price: US$610m
Price per Key: $1,374k to include a whole lot of real estate!
THPT Comment: We usually report on Host selling hotels, so interesting they are back at the table buying…one can see why with the strong trading performance and with Staycation reckoned to be the biggest and quickest return to normal market.
First Seen: Host press release
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