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Park Hotels Announces $80M Sale of Hyatt Centric Fisherman's Wharf

Park Hotels & Resorts, Inc. (PK) announced that it has concluded the sale of the 316-room Hyatt Centric Fisherman’s Wharf located in San Francisco for $80 million.The sale price reflects a multiple of 64.0 times the hotel’s 2024 EBITDA. Proceeds from this transaction will be utilized for ongoing return on investment (ROI) projects in Park’s portfolio and for other general corporate purposes.Although the transaction market presents challenges, Thomas J. Baltimore, Jr., chairman and CEO of Park Hotels’ expres ...