Park Hotels & Resorts sells Hyatt Centric Fisherman’s Wharf for US$80M in strategic portfolio streamlining

USA – Park Hotels & Resorts, a leading player in the US hospitality sector, has completed the sale of the Hyatt Centric Fisherman’s Wharf in San Francisco for US$80 million as part of a bold strategy to streamline its portfolio and enhance long-term asset performance.

The 316-room property, located at 555 North Point Street, sold for approximately US$253,000 per key, with the sale price representing a premium multiple of 64 times the hotel’s projected 2024 EBITDA.

This transaction aligns with Park’s broader strategic objective of divesting US$300 to US$400 million in non-core hotel assets by the end of 2025.

The proceeds from the sale will be reinvested into high-return projects within Park’s portfolio and used for other general corporate purposes, supporting the company’s focus on capital allocation toward markets and assets with stronger growth potential and operational efficiency.

Since 2017, Park has sold or disposed of 46 hotels for over US$3 billion, significantly reshaping its portfolio and strengthening its long-term growth prospects.

The company’s disciplined capital deployment strategy focuses on unlocking embedded value and maximizing shareholder returns through targeted reinvestment.

The Hyatt Centric Fisherman’s Wharf offers a range of amenities including an on-site restaurant, a 24-hour fitness center, a heated outdoor pool and hot tub, and meeting facilities, catering to both leisure and business travelers in a prime San Francisco location near the city’s iconic waterfront.

This sale follows Park’s previous divestitures in San Francisco, including the 360-key Le Meridien San Francisco and the 171-key Hotel Adagio, Autograph Collection, which were sold for a combined US$303.5 million in 2021.

These moves underscore Park’s commitment to portfolio optimization by focusing on core assets with higher growth potential.

Park Hotels & Resorts operates a diverse portfolio of 39 premium-branded hotels and resorts, encompassing approximately 25,000 rooms across city center and resort locations.

The company continues to pursue strategic initiatives that enhance asset quality, operational efficiency, and financial flexibility in a competitive hospitality landscape.

By streamlining its portfolio and reallocating capital to its highest-return opportunities, Park Hotels & Resorts is well-positioned to sustain long-term growth and deliver value to shareholders amid evolving market conditions.

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