Host Hotels & Resorts Enters into Agreement to Acquire Turtle Bay Resort in Hawaii
The acquisition price represents a 16.3x EBITDA multiple or a cap rate of approximately 5.3% on the Resort’s 2024 estimated results1.
- The acquisition price represents a 16.3x EBITDA multiple or a cap rate of approximately 5.3% on the Resort’s 2024 estimated results1.
- The purchase is subject to customary closing conditions and the transaction is expected to close in late July of 2024.
- The Resort recently benefitted from a transformative renovation and was closed from March of 2020 to June of 2021.
- James F. Risoleo, President and Chief Executive Officer, said, “We are thrilled to enter into an agreement to acquire Turtle Bay Resort, which will further expand and diversify our already strong presence in Hawaii.