Item 2. Properties
Item 2. Properties
Offices
We lease our headquarters located at 14185 Dallas Parkway, Suite 1200, Dallas, Texas 75254.
Hotel Properties
As of December 31, 2023, we held ownership interests in 16 hotel properties that were included in our consolidated operations, which included direct ownership in 14 hotel properties and 75% ownership in two hotel properties through equity investments with our partner. Fourteen of our hotel properties are located in the United States, one is located in Puerto Rico, one is located in the U.S. Virgin Islands.
The following table presents certain information related to our hotel properties:
Hotel Property Location Total Rooms % Owned Owned Rooms Occupancy ADR RevPAR
Fee Simple Properties
Capital Hilton Washington, D.C. 550 75 % 413 72.92 % $ 250.11 $ 182.39
Marriott Seattle Waterfront Seattle, WA 369 100 % 369 70.69 % 298.39 210.94
The Notary Hotel Philadelphia, PA 499 100 % 499 62.44 % 230.59 143.97
The Clancy San Francisco, CA 410 100 % 410 70.81 % 309.19 218.95
Sofitel Chicago Magnificent Mile Chicago, IL 415 100 % 415 70.30 % 239.57 168.42
Pier House Resort & Spa Key West, FL 142 100 % 142 72.66 % 641.70 466.29
The Ritz-Carlton St. Thomas St. Thomas, USVI 180 100 % 180 66.43 % 1,099.14 730.15
Park Hyatt Beaver Creek Resort & Spa Beaver Creek, CO 193 100 % 193 55.81 % 645.73 360.35
Hotel Yountville Yountville, CA 80 100 % 80 60.78 % 694.51 422.10
The Ritz-Carlton Sarasota Sarasota, FL 276 100 % 276 62.98 % 587.54 370.04
The Ritz-Carlton Lake Tahoe (1)
Truckee, CA 170 100 % 170 50.72 % 731.00 370.79
Cameo Beverly Hills (2)
Los Angeles, CA 143 100 % 143 72.78 % 308.71 224.69
The Ritz-Carlton Reserve Dorado Beach (3)
Dorado, Puerto Rico 96 100 % 96 63.00 % 2,126.17 1,339.53
Four Seasons Resort Scottsdale Scottsdale, AZ 210 100 % 210 48.27 % 967.22 466.92
Ground Lease Properties (4)
Hilton La Jolla Torrey Pines (5)
La Jolla, CA 394 75 % 296 78.76 % 253.71 199.82
Bardessono Hotel and Spa (6)
Yountville, CA 65 100 % 65 66.22 % 1,045.70 692.48
Total 4,192 3,957 67.13 % $ 440.41 $ 295.65
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(1) The above information does not include the operations of the voluntary rental program with respect to condominium units not owned by the Company.
(2) Includes 138 hotel rooms and five residences adjacent to the hotel. On August 1, 2023, the Company announced the rebranding and planned conversion of its Mr. C Beverly Hills in Los Angeles, California to the Cameo Beverly Hills. Following an extensive renovation, which is expected to be completed by the end of 2025, the hotel will join LXR Hotels & Resorts.
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(3) The above information does not include the operations of the voluntary rental program with respect to residential units not owned by the Company.
(4) Some of our hotel properties are on land subject to ground leases, two of which cover the entire property.
(5) The ground lease expires in 2067. The ground lease contains one extension option of either 10 or 20 years dependent upon capital investment during the lease term.
(6) The initial ground lease expires in 2065. The ground lease contains two 25-year extension options, at our election.