public_filing
Hilton La Jolla Torrey Pines — Braemar disposition
$165,000,000 · $418,782/key
Braemar closed the 394-room Hilton La Jolla Torrey Pines on July 17, 2024 for $165 million, or approximately $419,000 per key as Braemar rounded it. Harbor PPK is $165 million ÷ 394. Use the $165 million hotel price, not Park’s later pro-rata share of approximately $41 million from the same house. Braemar’s 7.2% cap inclusive of $40 million anticipated capex is Braemar’s narrative, not a second price. Buyer unnamed on this tape — Harbor will not invent a desk from trade press. Not a Hotel del Coronado tape. Older than the 2025–26 blotter cut.
Braemar Hotels & Resorts Exhibit 99.1, July 17, 2024