Park Hotels continues to trim portfolio with 14th sale in past year

Park Hotels & Resorts Inc. (NYSE: PK) has sold the Pointe Hilton Peak Resort in Phoenix, marking the 14th property sale for the McLean hospitality REIT in the last 11 months.

Park Hotels, the second-largest publicly traded REIT in Greater Washington, said Thursday the sale of the 563-room property brought in gross proceeds of $51.4 million — more than $91,200 per key before closing costs.

The REIT completed a $8.5 million renovation to the hotel's rooms and meeting spaces in late 2017.


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