DoubleTree Spokane City Center — consolidated JV sale
DoubleTree by Hilton Spokane City Center · 375 keys · Upper upscale
Consideration
$35.0M
$93k / key
Park IR: $35 million gross for the 375-room hotel. Hotel consideration — not Park’s net after the $13.5 million mortgage. Inland Northwest, not Seattle.
Park Hotels & Resorts IR / Nasdaq, December 2024 (closed December 4)
On December 4, 2024 the consolidated joint venture that owned the 375-room DoubleTree Hotel Spokane City Center sold the hotel for $35 million gross, or about $93,000 per key. Park said proceeds first repay a $13.5 million mortgage, with Park’s pro-rata share of remaining net proceeds for general corporate purposes. Harbor records the $35 million hotel price and will not invent Park’s net. Spokane Journal / Washington tax records name Spokane Hotel LLC (JMA Ventures). Not a Seattle waterfront PPK.