Braemar Hotels & Resorts has entered into an agreement to sell the 193-room Park Hyatt Beaver Creek Resort & Spa in Avon, Colorado, for $176 million. The sale price equals approximately $912,000 per room and reflects a 5.1% capitalization rate based on the property’s net operating income for the 12 months ending December 2025. Braemar has also received a non-refundable earnest money deposit of $6.5 million. The transaction is expected to close this month, subject to customary closing conditions.
The luxury resort is located at the base of Beaver Creek Mountain and offers ski-in/ski-out access, renovated guest rooms, and a full-service spa. Braemar originally acquired the property in 2017 for $145.5 million, when the company operated under the name Ashford Hospitality Prime.
Braemar Continues Strategic Review
Richard Stockton, President and Chief Executive Officer of Braemar Hotels & Resorts, described the transaction as an important step in the company’s ongoing strategic review and sales process. He said the premium valuation highlights the quality of Braemar’s hotel portfolio. Braemar also announced that it plans to use the net proceeds from the sale to redeem its “outstanding convertible notes in June.”
The company first announced its strategic review process in August, citing concerns that a luxury RevPAR lodging REIT could not thrive in the current market environment. Braemar has since continued to review options for the business and its assets, although company leadership has stated there is no fixed timetable for completing the process.
Luxury Hotels Remain Attractive to Investors
The sale comes during a period of continued investor interest in luxury hospitality assets. Industry analysts have pointed to improving debt markets and strong demand for high-end hotels as drivers of increased global hotel investment activity this year.
Braemar has already completed another major asset sale during the review process, selling the 369-room Marriott Seattle Waterfront for $145 million. Across the broader market, several notable luxury hotel transactions have also taken place in 2026, including the sale of the JW Marriott Marco Island Beach Resort in Florida and multiple Four Seasons resort properties in Florida and Wyoming.
