Conditions for hotel transactions this year are challenging, but they're not impossible.
Even as uncertainty keeps some buyers and sellers on the sidelines waiting for more clarity, cheaper debt and a narrower bid-ask gap, there are hotel owners and investors making deals pencil and closing on them.
Below is a selection of some of the highest-priced hotel transactions that closed during the third quarter of 2025, according to CoStar records.
Price: $300 million
Price per key: $852,273
Date: Sept. 9, 2025
Location: Miami, Florida
Rooms: 352
Buyer: BRE Hotels & Resorts
Seller: Trinity Investments and Certares
Takeaway: After a nearly four-year hold, Trinity Investments and Certares Real Estate sold the 352-key EAST Miami hotel that also includes 89 serviced apartments.
Price: $145 million
Price per key: $392,954
Date: Aug. 7, 2025
Location: Seattle, Washington
Rooms: 369
Buyer: Riller Capital and Sixth Street Partners
Seller: Braemar Hotels & Resorts
Takeaway: Braemar Hotels & Resorts used the proceeds of the sale to pay down $88.4 million in debt, holding on to $50.8 million in net proceeds after closing.
Price: $138.4 million
Price per key: $176,305
Date: Sept. 4, 2025
Location: Port Charlotte, Florida
Rooms: 785
Buyer: BRE Hotels & Resorts
Seller: Allegiant
Takeaway: The Sunseeker Resort Florida Gulf Coast, Curio Collection by Hilton sold along with the Aileron Golf Club in Lake Suzy, Florida, as part of a two-property deal for a total price of $200 million.
Price: $127.99 million
Price per key: $278,843
Date: Aug. 28, 2025
Location: Washington, D.C.
Rooms: 459
Buyer: T2 Hospitality
Seller: Host Hotels & Resorts
Takeaway: The property last sold in June 1994 for $46.5 million.
Price: $110 million
Price per key: $369,128
Date: Aug. 27, 2025
Location: New York, New York
Rooms: 298
Buyer: Silver Creek Development
Seller: Urban Commons
Takeaway: Silver Creek Development bought the leasehold interest in the hotel through a bankruptcy sale. The hotel ceased operations in April 2020.
Price: $95.55 million
Price per key: $309,223
Date: Sept. 10, 2025
Location: Tampa, Florida
Rooms: 309
Buyer: Rockpoint and Newbond Holdings
Seller: Newbond Holdings, Apollo Global Management
Takeaway: Rockpoint entered into a joint venture with Newbond Holdings to acquire the Westin Tampa Waterside. Apollo Global Management exited its partnership with Newbond for the property.
Price: $92 million
Price per key: $814,159
Date: Aug. 20, 2025
Location: New York, New York
Rooms: 113
Buyer: MML Hospitality
Seller: DLJ Real Estate Capital Partners
Takeaway: The seller bought the building in 2011 for $36 million and converted it from office use into a hotel.
Price: $84.53 million
Price per key: $228,459
Date: Sept. 3, 2025
Location: Westminster, Colorado
Rooms: 370
Buyer: Columbia Sussex Corp.
Seller: Wheelock Street Capital
Takeaway: The seller acquired The Westin Westminster for $70 million in January 2010 and renovated it in 2018.
Price: $82.2 million
Price per key: $913,333
Date: July 3, 2025
Location: Santa Barbara, California
Rooms: 90
Buyer: Culver Capital, Justin Mateen, UNIMAT Commercial
Seller: Belmond Management
Takeaway: The group of buyers plan $40 million in upgrades to the property.
Price: $56.15 million
Price per key: $176,019
Date: July 18, 2025
Location: Winston-Salem, North Carolina
Rooms: 319
Buyer: 1754 Properties
Seller: Rockbridge
Takeaway: 1754 Properties plans to invest more than $5 million in the hotel to upgrade its meeting space, hallways and infrastructure.