Benzinga | May 4, 2021 05:24PM EDT

Host Hotels & Resorts, Inc. Acquires Four Seasons Resort Orlando at Walt Disney World Resort for $610M

Host Hotels & Resorts, Inc. (NASDAQ:HST) (the "Company"), the nation's largest lodging real estate investment trust ("REIT"), today announced that it has acquired the fee simple interest in the 444-room Four Seasons Resort Orlando at Walt Disney World(r) Resort for approximately $610 million in cash.

Located within Walt Disney World(r) Resort, one of the most visited destination resorts in the world, the hotel sits on 289 acres, provides complimentary transport to four Walt Disney World(r) Resort theme parks, and is the only AAA Five Diamond-rated hotel in Central Florida.

James F. Risoleo, President and Chief Executive Officer, said, "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. 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."

Risoleo continued, "Our ability to execute on this off-market acquisition underscores the benefits of our prudent and disciplined capital allocation approach that emphasized maximizing 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."