Host Hotels & Resorts has completed the sale of the Four Seasons Resort Orlando at Walt Disney World Resort in Florida, US, and the Four Seasons Resort and Residences Jackson Hole in Wyoming, US.
The combined transaction totalled $1.1bn for the 444-room Orlando property and the 125-room Jackson Hole site.
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The company acquired these hotels in 2021 and 2022, respectively, for a total of $925m, without significant capital expenditure during its ownership.
The sale price reflects a trailing 12-month earnings before interest, taxes, depreciation, and amortisation (EBITDA) multiple of 14.9, incorporating an estimated $88m of avoided capital spending over the next five years.
The company reported an unlevered internal rate of return of 11% on these investments, accounting for $58m allocated to capital expenditures from the FF&E reserve and transaction costs, which reduced the IRR calculation by approximately 170 basis points.
The sale does not include the ongoing condominium development at the Orlando property.
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By GlobalDataHost Hotels & Resorts president and CEO James Risoleo said: “The sale of these two iconic properties represents another important step in advancing our capital allocation strategy. The $1.1bn sale price for these resorts represents an 11% unlevered IRR over our ownership period and an EBITDA multiple that is significantly higher than our company’s recent trading multiple.
“We are pleased with our ability to monetise two recently acquired hotels at an attractive profit and an accretive multiple, and we will continue to use our competitive advantages to create value for our shareholders.”
In a previous transaction concluded in January 2026, Host Hotels & Resorts sold the 232-room St Regis Houston for $51m. The sale price represents a trailing 12-month 25.0× EBITDA multiple, which includes $49m in estimated avoided capital expenditure over five years.
Since 2018, Host Hotels & Resorts has divested approximately $6.4bn worth of hotel assets at a collective average 16.7× EBITDA multiple, with this figure reflecting around $1.2bn in estimated avoided capital expenditures.
During the same period, its acquisitions have totalled $4.9bn at a blended average 13.6× EBITDA multiple.
