Reports Q2 revenue $672M, consensus $669.02M. Thomas J. Baltimore, Jr., Chairman and Chief Executive Officer, stated, “We remain laser-focused on our strategic objective of reshaping the portfolio through non-core asset dispositions, as evidenced by the successful closing on the sale of the Hyatt Centric Fisherman’s Wharf for total proceeds of $80 million, representing a 64.0x multiple on 2024 EBITDA of the hotel, and with several other non-core assets in various stages of the marketing process, while reallocating and investing this capital in our iconic portfolio, like the Royal Palm hotel in Miami, which recently commenced a transformative renovation. With liquidity of approximately $1.3 billion, we remain well-positioned for long-term growth and committed to creating long-term shareholder value.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PK: