STAYHotel Dive · 1h ago
Host Hotels & Resorts buys 1 Hotel Brooklyn Bridge, Renaissance Plano
Executive Brief
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Host Hotels & Resorts expanded its portfolio through the $374 million acquisition of 1 Hotel Brooklyn Bridge and Renaissance Dallas at Plano Legacy West. These strategic investments strengthen the REIT's New York presence while establishing an entry into the Dallas-Fort Worth market.
- 01Combined acquisition cost for the two properties totals approximately $374 million
- 02Purchase of 1 Hotel Brooklyn Bridge increases company scale in the New York City market
- 03Acquisition of Renaissance Plano marks the REIT's first entry into the Dallas-Fort Worth region
- 04Assets were acquired as part of a targeted expansion strategy in high-growth hospitality hubs
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The acquisitions, totaling roughly $374 million combined, help the REIT expand its foothold in New York as well as enter the Dallas-Fort Worth market.