Braemar Buys Ritz-Carlton Lake Tahoe; More… | Hotel Business

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U.S. real estate investment trust company Braemar Hotels & Resorts Inc. has agreed to purchase the 170-room Ritz-Carlton Lake Tahoe in Truckee, California, a hotel owned by luxury hotel chain operator Ritz-Carlton Hotel Company, a subsidiary of Marriott International.

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Ritz-Carlton Lake Tahoe Resort DALLAS-Braemar Hotels & Resorts Inc. has entered into a definitive agreement to acquire the 170-room Ritz-Carlton Lake Tahoe in Truckee, California. In addition, the company is also acquiring a 3.4-acre plot of vacant land adjacent to the hotel that is being entitled for luxury residential townhome development.

Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced it has entered into a definitive agreement to acquire the 170-room Ritz-Carlton Lake Tahoe in Truckee.

BRAEMAR HOTELS & RESORTS ANNOUNCES AGREEMENT TO ACQUIRE THE RITZ-CARLTON LAKE TAHOE Acquisition Highlights: Luxury resort in the North Lake Tahoe, California area with mid-mountain location at Northstar Ski Area Exceptional amenities including ski-in/ski-out access to Northstar Ski Mountain as well

Take a quick tour of the July 15th issue of Hotel Business with Editor-in-Chief Christina Trauthwein. There’s a cover story on educating the next generation of hoteliers, as well as our annual.

"The acquisition of the Ritz-Carlton Lake Tahoe is an opportunity for us to acquire an iconic and irreplaceable luxury resort property with a premier location on the Northstar ski mountain in the world-famous lake tahoe area," Richard J. Stockton, Braemar’s President and chief executive officer, said in November.

Braemar Hotels & Resorts announced that it has closed on the previously announced acquisition of the Ritz-Carlton Lake Tahoe Ashford Inc. agreed to commit $10.3 million to Braemar in connection with the $103 million acquisition of the Ritz-Carlton Lake Tahoe, and, based upon modeling assumptions:

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