Braemar Sells Key West Resort for $190M Amid Shift to Self-Managed REIT

Braemar Hotels & Resorts has sold the Pier House Resort & Spa in Key West, Florida, to Sixth Street for $190 million, as part of its transition to a self-managed REIT. The 142-key oceanfront resort is situated at the gateway of Duval Street. Braemar has been selling assets to deleverage and plans to maintain a portfolio of six to eight luxury properties.