TETON VILLAGE, Wyo. — Four Seasons Resort and Residences Jackson Hole is being acquired by Host Hotels & Resorts, the nation’s largest lodging real estate investment trust.
Host Hotels & Resorts announced yesterday, Nov. 2 that they had acquired the Teton Village 125-room resort for approximately $315 million in cash, and expect the property to be one of Host’s top three assets.
Host Hotels & Resorts currently owns 73 properties in the United States and five properties internationally. The Company also holds non-controlling interests in seven domestic and one international joint venture.
The press release noted the recent renovations to the property, the resort’s proximity to the national parks; in addition to being situated at the base of one of the top-rated ski destinations in the country, and the recent Jackson Hole Airport expansion “to better accommodate year-round demand, shrinking shoulder seasons, and increasing visitor growth.”
In the press release, James F. Risoleo, president and chief executive officer of Host Hotels & Resorts said, “We are thrilled to add the Four Seasons Resort and Residences Jackson Hole to our portfolio. It is an iconic, irreplaceable asset in a new market for Host, and one of only a handful of luxury ski resorts in the country. From 2014 through 2019 the Resort had a RevPAR CAGR of 5.8%, significantly outperforming the broader ultra-luxury set, which had a RevPAR CAGR of 4.3% over the same time period. With year-round demand generators, no new supply on the horizon and a recent comprehensive guestroom renovation, we believe the Resort is well positioned to continue outperforming over the long term, driving value for our portfolio and our shareholders.”
