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Aug 10
Ryman's $1.38 billion Grande Lakes acquisition prices a 1,592-key luxury Orlando resort at 12.5x trailing EBITDAre based on seller-provided unaudited figures. The per-key math, the financing structure, and the seller's exit tell three different stories about what this deal actually is.
Deutsche Bank projects a 50-75 basis point RevPAR lift for full-service hotel REITs from the World Cup, and Host, Park, and Ryman all got buy ratings. The part worth scrutinizing is that all three are already trading above analyst consensus targets, which means the market is betting the tailwind is real before the cash register confirms it.
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