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April 29, 2020  

Braemar Scraps Florida Hotel Sale

Braemar Hotels & Resorts was nearing a deal to sell a luxury hotel in Key West, Fla., when the property was pulled from the market last week.Sources said the Dallas REIT had received bids “just shy” of $120 million for the 142-room Pier House Resort and Spa, which it began shopping a few weeks earlier to raise capital amid the travel shutdown brought on by the pandemic. Although the investment-sales market for hotels is virtually...

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