Acquisitions

12 Months Ended

Dec. 31, 2021

Asset Acquisition [Abstract]

Acquisitions

12.Acquisitions

Asset Acquisitions

During 2021, we acquired the following assets:

•the 448-room Hyatt Regency Austin for $161 million;

•the 444-room Four Seasons Resort Orlando at Walt Disney World® Resort for $610 million;

•the Royal Ka'anapali and Ka'anapali Kai golf courses, adjacent to the Hyatt Regency Maui hotel, for $28 million;

•the 200-room Baker's Cay Resort Key Largo, Curio Collection by Hilton, for $200 million;

•a 223-room luxury downtown Houston hotel, subsequently rebranded as The Laura Hotel, as part of the Autograph Collection by Marriott, for $65 million;

•the 59-room Alila Ventana Big Sur for $150 million;

•the 173-room Alida, Savannah, a Tribute Portfolio Hotel, for $103 million; and

the 319-room Hotel Van Zandt for $246 million, including $4 million for the FF&E replacement funds; in connection with the acquisition of the Hotel Van Zandt, we assumed a $102 million mortgage loan with a fair value of $105 million.