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DoubleTree Spokane City Center — consolidated JV sale
$35,000,000 · $93,333/key
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.
Park Hotels & Resorts IR / Nasdaq, December 2024 (closed December 4)