Braemar Hotels Completes $145M Marriott Seattle Waterfront Sale, Pays Down $88M Debt

Braemar Hotels & Resorts has completed the sale of the Marriott Seattle Waterfront in Seattle for $145 million, including projected capital expenditures of $7 million, reflecting an 8.1% capitalization rate based on net operating income for the year ending May 31, 2025. The 369-room property features multiple amenities such as restaurants, a bar, a fitness center, and electric vehicle charging stations. Following the sale, Braemar repaid approximately $88.4 million in debt and retained around $50.8 million in net proceeds after transaction costs, enhancing its balance sheet and liquidity. CEO Richard Stockton indicated that no additional property sales are projected for the remainder of the year. Braemar, a luxury hotel REIT operating 15 properties across various U.S. regions, reported in its Q2 2025 financials a decrease in total hotel revenue but improvements in operating income and reduced net losses, reflecting efforts to optimize its portfolio and improve operational efficiency. The company continues to focus on strategic management of its assets, including converting some properties to franchise models while maintaining established brands.