Braemar Hotels & Resorts completes sale of Four Seasons Resort Scottsdale for $372 million
Braemar Hotels & Resorts has finalized the sale of its Scottsdale, Arizona property for $372 million, marking a 15% return on the asset.
Braemar Hotels & Resorts has closed the sale of the 210-room Four Seasons Resort Scottsdale for $372 million. The transaction values the property at approximately $1.8 million per key.
CEO Richard J. Stockton noted that the sale generated an unlevered return of roughly 15%, exceeding the company’s initial 10% target. Braemar originally acquired the resort in 2022, utilizing asset management strategies to increase its value prior to the divestment.
The proceeds from the sale are earmarked to fund fees owed to the company's external advisor under a separation agreement. This move facilitates Braemar's planned transition to a self-managed real estate investment trust (REIT), which is scheduled for completion in mid-November.