During the first half of 2021 , there have been four single asset hotel sales in the United States recorded with a per room transaction amount greater than US $ 1 million dollars , two of which were for more than US $ 2 million per key . Considering the COVID-19 pandemic and subsequent downturn in lodging industry performance metrics , these sales transactions and record pricing are intriguing . There have only been six hotel trades ever with a price over US $ 2 million per room , and a total of 35 hotel transactions for greater than US $ 1 million per key .
NOTEWORTHY OBSERVATIONS INCLUDE :
• The June 2021 announcement of Hyatt Hotels Corp . acquisition of Ventana Big Sur , an Alila Resort in Big Sur , California for more than US $ 2.5 million per unit represents a new high-water mark in the U . S .
• During April 2021 , Sunstone Hotel Investors ( SHO ) purchased the newly constructed 130-room Montage Healdsburg in California ’ s Sonoma County for US $ 265 million or US $ 2.038 million per key . It is worth noting that upon stabilization , SHO expects to generate a 6 % to 7 % net operating income yield on total invested capital .
• Additional record submarket per unit pricing has been established with the sales earlier this year ( 2021 ) of The Four Seasons Resort Orlando at Walt Disney World Resort in Orlando , Florida , and the Mountain Chalet Aspen in Aspen , Colorado , for US $ 1.374 million per room and US $ 1.079 million per key , respectively .
• In 2006 , the US $ 2.263 million per key sale of The Four Seasons Resort Hualalai in Ka ’ upulehu-Kona , Hawaii , was the first single asset U . S . hotel trade greater US $ 2 million dollars per key .
• Between 2015 and 2019 , three additional US $ 2 million plus per unit sales of the Baccarat Hotel in New York ; The Plaza in New York ; and the Montage Beverly Hills , Beverly Hills , California , round out the six such trades ever to occur .
• California , Hawaii , and New York are three states where single U . S . asset hotel sales greater than US $ 2 million dollars per room have transpired .
• With 14 hotel sales above US $ 1 million dollars per unit , or 40 % of the 35 analogous trades nationally , New York City is the dominant U . S . market where such transactions have occurred .
In June , Hyatt Hotels Corp . acquired Ventana Big Sur , an Alila Resort in California , for more than US $ 2.5 million per key .
• The recent sale of Ventana Big Sur for over US $ 2.5 million per unit is roughly 85 % greater than the US $ 1.358 per room trade of the asset during 2015 .
• The US $ 1.1 million dollar per room sale of the Mayflower Hotel in New York as a residential condominium development site during 2004 was the first
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