financeHotel Dive··1 min·For: Owner, Investor, GM, Revenue
Sunstone to Sell Hyatt Regency San Francisco for $279M
Sunstone Hotel Investors has entered an agreement to sell the Hyatt Regency San Francisco for $279 million as part of its strategy to repurpose capital into stock buybacks.
Key Takeaways
- 1Capitalize on high private market valuations to fund an ongoing stock repurchase program and enhance shareholder value.
- 2Offload the 821-room Hyatt Regency San Francisco to an undisclosed buyer for approximately $340,000 per key.
- 3Rebalance the portfolio away from urban markets like San Francisco while maintaining liquid capital for future strategic acquisitions.
Source: Hotel Dive
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