RobertDouglas Advises Braemar Hotels & Resorts Inc. on the $70.5 Million Refinancing of Park Hyatt Beaver Creek Resort & Spa in Beaver Creek, Colorado
RobertDouglas advised Braemar Hotels & Resorts Inc. (NYSE: BHR) in successfully refinancing its existing CMBS loan for the 190-room Park Hyatt Beaver Creek Resort & Spa in Beaver Creek, CO with a best-in-class bank lender.
The new, non-recourse loan totals $70.5 million and has a two-year initial term with three, one-year extension options, subject to the satisfaction of certain conditions. The loan is interest only and provides for a floating interest rate of SOFR + 2.86%.
Situated at the base of Beaver Creek Mountain, Park Hyatt Beaver Creek Resort & Spa offers unbeatable ski-in/ski-out convenience, health and fitness amenities, a full-service spa, and upscale dining experiences. Just a two-hour drive away from Denver, Beaver Creek is positioned as a premier family-oriented ski destination.
Stephen O'Connor, Principal and Managing Director commented "The drive-to leisure market orientation attracted strong interest from institutional lenders to the Park Hyatt Beaver Creek Resort & Spa financing. We are encouraged by the increasingly competitive terms offered by capital providers seeking to lend to the hospitality sector, especially for irreplaceable, best-in-class assets with strong cash flow."