Host Hotels & Resorts Acquires 1 Hotel Brooklyn Bridge and Renaissance Dallas at Plano Legacy West Hotel
Key Highlights
- ➤Host acquires 1 Hotel Brooklyn Bridge for $202 million in cash
- ➤Host acquires Renaissance Dallas at Plano Legacy West for approximately $172 million
- ➤Acquisitions expected immediately accretive and contribute $6 million EBITDA during 2026 ownership
- ➤Net Adjusted EBITDAre increase expected approximately $4 million above prior interest income
- ➤1 Hotel Brooklyn Bridge expected among Host’s top 10 assets by 2026 results
Expert Statements
James F. Risoleo, President and Chief Executive Officer of Host Hotels & Resorts
“We are pleased to add two high-quality, market-leading properties to our portfolio at attractive valuations. The acquisition of 1 Hotel Brooklyn Bridge expands our New York luxury presence into a new submarket with significant barriers to entry while further strengthening our relationship with the 1 Hotel brand. Similarly, the acquisition of Renaissance Plano establishes Host’s presence in the high-growth Dallas/Fort Worth market through a uniquely positioned asset that benefits from strong corporate and group demand. Together, these acquisitions enhance our portfolio’s quality, performance and geographic diversification, underscoring our disciplined capital allocation approach and commitment to delivering attractive returns and long-term shareholder value creation.”
BETHESDA, Md., Nov. 04, 2026 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust, today announced that it has acquired the leasehold interest in the 195-room 1 Hotel Brooklyn Bridge (the “1 Hotel”) for $202 million in cash. The property has 83 years remaining on the ground lease with a government nonprofit lessor. The 1 Hotel acquisition price represents a 10.2x EBITDA multiple or a cap rate of approximately 8.2% on the property’s 2026 estimated results(1). The Company has also acquired the fee simple interest in the 308-room Renaissance Dallas at Plano Legacy West Hotel (the “Renaissance Plano”) for approximately $172 million in cash. The Renaissance Plano acquisition price represents an 11.2x EBITDA multiple or a cap rate of approximately 7.9% on the property’s 2026 estimated results(1).
The 1 Hotel is expected to be among Host’s top 10 assets based on estimated full year 2026 results, with expected Total RevPAR of $1,130, RevPAR of $615, and EBITDA per key of approximately $100,000(2). Renaissance Plano is expected to be among Host’s top 25 assets on a Total RevPAR and EBITDA per key basis based on estimated full year 2026 results, with expected Total RevPAR of $380, RevPAR of $200, and EBITDA per key of approximately $50,000.(2) Together, these acquisitions further diversify and improve the quality of the Company’s portfolio.
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