RobertDouglas Advises Braemar Hotels & Resorts on the $80-Million Refinancing of Pier House Resort & Spa in Key West, Florida

USA, New York, New York. October 28, 2019

RobertDouglas announced today that it advised Braemar Hotels & Resorts (NYSE: BHR) in securing an $80-million non-recourse senior mortgage for the refinancing of Pier House Resort & Spa in Key West, Florida. Evan Hurd, Principal and Managing Director with RobertDouglas, made the announcement.

"This was a highly efficient execution with the lender providing extremely attractive terms. As a superior property with robust in-place cash flows in one of the nation's strongest and most desirable lodging markets, the property facilitated a highly-competitive process," said Hurd.

Located in an irreplaceable location in one of the highest barrier-to-entry markets in the world, the iconic, waterfront Pier House Resort & Spa in Key West features 142 guestrooms, a 2,600-square-foot conference center, and numerous high-end amenities, including a private white sand beach, an outdoor heated pool with whirlpool, a health club and fitness center, and a 10,000-square-foot spa, the only full-service spa in Key West.

"Key West's long-term track record of strong RevPAR performance, resiliency though economic downturns, and extremely high barriers-to-entry attracted robust lender interest," commented Lindsey Whang, Director with RobertDouglas. Key West is widely considered to be one of the top lodging markets in the country. With regulations in place that make it nearly impossible for new supply, recent increases in direct flights from New York, Chicago, Dallas and Atlanta, and strong leisure travel trends, the market is expected to see continued growth for the foreseeable future.


Pier House Resort & Spa - Key West, FL
/ SLIDES

About RobertDouglas

Media Contact:

Paul Kesman
Principal
PDK PR
T: 248-321-2035
E: pkesman@pdkpr.com
W: http://www.robert-douglas.com

Subscribe to our newsletter
for more Hotel Newswire articles

Related News

Choose a Social Network!

The social network you are looking for is not available.

Close
Coming up in January 2020...

Mobile Technology: Meeting Tech Expectations

What once seemed futuristic is now the norm, owing to the escalating developments in mobile technology, and hotels must continue to innovate in order to meet guest expectations. In a recent study from Mower, 65 percent of guests said they would gladly pay more for a hotel that provides the mobile technology they deem essential. The same study shows that 44 percent of travelers are more likely to book a smart hotel, and nearly 7 in 10 want to use smart devices provided by the hotel. And how do guests wish to use all this technology? A majority expressed a desire for mobile check-in and check-out, and mobile payment options. They also want to be able to stream content from their phone to the TV; to make service requests of the hotel staff; to control in-room lighting, temperature and sound; to order food and beverages; and to request a wake-up call - all from their mobile device. Guests also expressed preferences for robust wi-fi and convenient device charging ports throughout the hotel. They also appreciate the use of hotel branded apps which allow a guest to book a room, access loyalty programs, receive discounts and rewards, and even use the app to choose the room, floor and view they prefer. Some hotel apps also allow a customer to track their charges throughout their stay, rather than waiting to receive a bill at the end. Finally, mobile tech lounges are popping up more frequently in some hotels. These lounges offer guests the opportunity to perform tasks like airline check-ins or access to local info guides, but they also provide a place where guests can comfortably get some work done outside their room. The January Hotel Business Review will report on what some hotels are doing to meet their customers' expectations in the mobile technology space.