Adjusted Funds From Operations Per Share Increased 18% - Comparable RevPAR for all Hotels Not Under Renovation Increased 5.8% - Comparable Hotel EBITDA Margin for all Hotels Not Under Renovation Increased 50 bps
Ashford Hospitality Prime, Inc. (NYSE: AHP) today announced it has entered into a definitive agreement to acquire the 190-room Park Hyatt Beaver Creek Resort & Spa in Beaver Creek, Colorado for $145.5 million ($766,000 per key).
Ashford Hospitality Prime, Inc. (NYSE: AHP) today announced it has entered into a definitive agreement to acquire the 80-room Hotel Yountville in Yountville, CA for $96.5 million ($1,200,000 per key).
Ashford Hospitality Prime, Inc. (NYSE: AHP) announced yesterday that its Board of Directors has appointed Richard J. Stockton as the Chief Executive Officer of the Company, effective November 14, 2016. Monty J. Bennett, the Company's previous Chief Executive Officer, remains Chairman of the Board of Ashford Prime.
The purchase price represents a trailing 12-month cap rate of 6.7% on net operating income. On a trailing 12-month basis, the property achieved RevPAR of $157, with occupancy of 80% and Average Daily Rate of $196.
Ashford Hospitality Prime, Inc. (NYSE: AHP) yesterday announced it has entered into a definitive agreement to acquire the award-winning 180-room Ritz-Carlton St. Thomas for $64 million ($355,000 per key) from Marriott International, Inc. (NASDAQ: MAR).
Ashford Hospitality Prime, Inc. (NYSE: AHP) announced today that it has completed the previously-announced acquisition of the leasehold interest in the award-winning 62-room Bardessono Hotel and Spa in Yountville, CA for a total consideration of $85.0 million ($1,370,000 per key).
RevPAR for all Ashford Prime hotels increased 11.0% to $161.30 during the fourth quarter, driven by a 3.8% increase in ADR and a 7.0% increase in occupancy