Host finalizes Hyatt deal

After closing a deal to acquire three Hyatt Hotels Corporation properties in the first quarter, Host Hotels & Resorts has no further acquisitions planned for 2018, according to President and CEO Jim Risoleo.

In February, the real estate investment trust announced its full-year 2017 earnings and on the same day confirmed an agreement to acquire the 301-room Andaz Maui at Wailea Resort, the 668-room Grand Hyatt San Francisco and the 454-room Hyatt Regency Coconut Point Resort and Spa on Florida’s Gulf Coast for a combined $1 billion. Host finalized the deal on 29 March, according to a Q1 2018 earnings release issued Wednesday.

“We’re not seeing a large amount of individual or portfolio acquisition opportunities that fit our profile, and when I say fit our profile, I’m not only talking about the nature of the asset, but I’m talking about the disciplined way we underwrite these potential investment opportunities,” Risoleo said Thursday during a conference call with analysts. “That’s one of the reasons why we didn’t include any additional acquisitions in our guidance for the balance of the year.”