Braemar Hotels & Resorts Inc. announced on August 11, 2025, the successful closing of the previously announced sale of the 369-room Marriott Seattle Waterfront. The property was sold for $145 million, or $393,000 per key.
The sale price, including anticipated capital expenditures of $7 million, represents an 8.1% capitalization rate on net operating income for the trailing 12 months ended May 31, 2025. This divestiture significantly enhances the company's balance sheet and liquidity.
In conjunction with the sale, Braemar paid down approximately $88.4 million of debt and retained approximately $50.8 million of net proceeds after transfer taxes and transaction costs. The company projects no additional property sales for the remainder of this calendar year.
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