New York – February 15, 2022 - RobertDouglas advised Braemar Hotels & Resorts Inc. (NYSE: BHR) in successfully refinancing its existing CMBS loan for the 190-room Park Hyatt Beaver Creek Resort & Spa in Beaver Creek, CO with a best-in-class bank lender.
The new, non-recourse loan totals $70.5 million and has a two-year initial term with three, one-year extension options, subject to the satisfaction of certain conditions. The loan is interest only and provides for a floating interest rate of SOFR + 2.86%.
Situated at the base of Beaver Creek Mountain, Park Hyatt Beaver Creek Resort & Spa offers unbeatable ski-in/ski-out convenience, health and fitness amenities, a full-service spa, and upscale dining experiences. Just a two-hour drive away from Denver, Beaver Creek is positioned as a premier family-oriented ski destination.
Stephen O'Connor, Principal and Managing Director commented "The drive-to leisure market orientation attracted strong interest from institutional lenders to the Park Hyatt Beaver Creek Resort & Spa financing. We are encouraged by the increasingly competitive terms offered by capital providers seeking to lend to the hospitality sector, especially for irreplaceable, best-in-class assets with strong cash flow."
RobertDouglas is a real estate investment banking firm with offices in New York, Los Angeles, and San Francisco that specializes in the sale, financing, and equity capitalization of hotel, resort, and gaming properties throughout North America. Founded in January 2013 and currently led by its four partners, Rob Stiles, Doug Hercher, Stephen O’Connor, and Evan Hurd, RobertDouglas offers access to exceptional domestic and international institutional investor and lender relationships as it combines the capital markets sophistication of top-tier investment banks with diligent hotel underwriting and proven asset management experience. For more information, contact info@robert‐douglas.com or go to www.robert-douglas.com.