Braemar Hotels & Resorts has entered into a definitive agreement to sell the 193-room Park Hyatt Beaver Creek Resort & Spa, located in Beaver Creek, Colo., for $176 million or $912,000 per key. The company has received a $6.5 million non-refundable earnest money deposit. Other terms and conditions were not disclosed.
The sale price represents a 5.1 percent capitalization rate on net operating income for the trailing 12 months ended December 2025.
"The sale of this asset at a premium valuation is a significant milestone in our ongoing strategic review and sales process, underscoring the high quality of our portfolio," President and CEO Richard Stockton said in statement. "Braemar intends to use the net proceeds to redeem its outstanding convertible notes in June."
The transaction is expected to close in May 2026, subject to customary conditions. The company provides no assurances that the sale will be completed on these terms or at all.