Braemar Sells Key West Resort for $190M Amid Shift to Self-Managed REIT

Braemar sells Key West resort for $190M amid shift to self-managed REIT

The sale of Florida’s luxury Pier House Resort & Spa to Sixth Street marks “meaningful progress” in Braemar’s management spin-out from Ashford Inc., per CEO Richard Stockton.

Sixth Street Acquires Iconic Pier House Hotel In Key West for $190M

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Sixth Street, Riller Capital Purchase Pier House Resort in Key West for $190M

KEY WEST, FLA. — Sixth Street, a global investment firm based in San Francisco, and partner Riller Capital have acquired Pier House Resort & Spa, a 142-room luxury oceanfront resort located at 1 Duval St. in Key West. Dallas-based Braemar Hotels & Resorts sold the property to the partnership for $190 million. Situated on five acres, Pier House offers two oceanfront restaurants, a full-service spa, oceanfront pool, 75 linear feet of private beach…

Sixth Street acquires Pier House Resort & Spa for $190M

Sixth Street has acquired the Pier House Resort & Spa, a 142-room, luxury oceanfront resort in Key West, FL, for $190 million from Braemar Hotels & Resorts. Sixth Street completed the transaction in partnership with Riller Capital. Situated on five acres, the property is located on the waterfront at the gateway to Key West’s Duval Street. The resort features a suite of amenities, including two oceanfront dining venues, a full-service spa, fitnes…