Exit Options for John Hancock Bond and Corporate Finance Group: Hanover Communications In... - 28 Strategic Investors

View x

Park Hotels & Resorts Inc. Announces the Sale of the Le Meridien New Orleans

Park Hotels & Resorts Inc. announced that it has closed on the sale of the 410-room Le Meridien New Orleans located in New Orleans, LA, for gross proceeds of $84.0 million, or $205,000 per key before customary closing costs. When adjusted for Park’s anticipated capital expenditures, the sale price represents a 5.0% capitalization rate on the Hotel’s projected 2019 net operating income, or 17.1x the Hotel’s projected 2019 EBITDA. Proceeds from the sale of the Hotel will be used to repay a portion of Park’s unsecured indebtedness.

Tags:

Why should I add a proposition?

  • Find counterparties that match your capital requirement or investment criteria
  • Get verified, vetted and analyst-picked introductions to relevant propositions
  • Generate new relationships
  • Add Proposition

Aurigin Updates

© Copyright 2023 AURIGIN, All rights reserved.

Securities are offered through Finalis Securities LLC, member of FINRA / SIPC. Aurigin is not a registered broker-dealer, and Finalis Securities LLC and Aurigin are separate, unaffiliated entities.

www.aurigininc.com is a website operated by Aurigin Inc., a privately held Delaware corporation. Aurigin provides deal origination services.