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Carey Watermark 2

On October 22, 2019, CWI® 1 and CWI® 2 announced that the two companies have entered into a definitive merger agreement under which the two companies will merge in an all-stock transaction to create Watermark Lodging Trust (WLT), a $4.6 billion, internally-managed non-traded REIT with increased scale and operating efficiencies, positioning it for long-term value creation and liquidity, including a public listing or IPO. For more information, click here.

Overview

Carey Watermark Investors 2

Carey Watermark Investors 2 Incorporated (CWI® 2) is a non-traded REIT that was formed to take advantage of investment opportunities in the lodging industry and seeks to provide investors with attractive, risk-adjusted returns and long-term growth in value.

Estimated Net Asset Value – Class A1

$11.41

Annualized Distribution Rate – Class A2

5.86%

Holding Period4

6 Years

Closed to New Investments

July 2017

Estimated Net Asset Value – Class T1

$11.41

Annualized Distribution Rate – Class T3

5.29%

Past performance is not a guarantee of future results.

  1. As of December 31, 2018. For additional information regarding the calculation of the NAV, please refer to the Form 8-K filed by CWI® 2 with the SEC on April 10, 2019.

  2. CWI® 2’s annualized distribution rate for Class A shares is based on a purchase price of $11.93 per share.

  3. CWI® 2’s annualized distribution rate for Class T shares is based on a purchase price of $11.28 per share.

  4. Pursuant to the prospectus, the Board of Directors intended to consider alternatives for providing liquidity for our stockholders beginning not later than six years following the termination of our initial public offering, which terminated in July 2017. On October 22, 2019, CWI® 1 and CWI® 2 announced that the two companies have entered into a definitive merger agreement under which the two companies will merge in an all-stock transaction to create Watermark Lodging Trust (WLT), a $4.6 billion, internally-managed non-traded REIT with increased scale and operating efficiencies, positioning it for long-term value creation and liquidity, including a public listing or IPO. For more information, click here.

 

Forms & Materials

 

Portfolio

For a full portfolio listing, please access the Portfolio Snapshot.

Total Assets in Billions $1.586
Number of Rooms 4,421
Number of Properties 12
CWI® 21 U.S. Lodging Industry2 Fund-to-Industry Performance
Occupancy3 79.1% 70.9% +11.6%
ADR4 $243.99 $133.25 +83.1%
RevPAR5 $193.00 $94.42 +104.4%
  • CWI® 21
    Occupancy3 79.1%
    ADR4 $243.99
    RevPAR5 $193.00
  • U.S. Lodging Industry2
    Occupancy3 70.9%
    ADR4 $133.25
    RevPAR5 $94.42
  • Fund-to-Industry Performance
    Occupancy3 +11.6%
    ADR4 +83.1%
    RevPAR5 +104.4%

All Carey Watermark Investors 2 portfolio data is as of September 30, 2019.

  1. Statistical data is for our consolidated hotels for the three months ended September 30, 2019.

  2. Industry data for the three months ended September 30, 2019, published by STR, Inc. in October 2019.

  3. Occupancy is the percentage of rooms sold divided by rooms available.

  4. ADR (Average Daily Rate) is room revenue divided by rooms sold, displayed as the average rental rate for a single room.

  5. RevPAR (Revenue Per Available Room) is room revenue divided by available rooms.

  6. Diversification does not ensure market gain or protect against loss. Percentages derived from proportionate share of hotel rooms at each property, as financial metrics vary by period. Numbers may not add up to 100% due to rounding.

 

Distribution History

Record Date(s) Distribution Rate Annualized Distribution Rate Payable Date
09/30/19 $0.1410 payable in cash
$0.0339 payable in shares of common stock
5.86% 10/15/19
06/28/19 $0.1410 payable in cash
$0.0339 payable in shares of common stock
5.86% 07/15/19
03/29/19 $0.1410 payable in cash
$0.0339 payable in shares of common stock
5.86% 04/15/19
12/31/18 $0.1410 payable in cash
$0.0339 payable in shares of common stock
5.86% 01/15/19
09/28/18 $0.1410 payable in cash
$0.0339 payable in shares of common stock
5.86% 10/15/18
06/29/18 $0.1410 payable in cash
$0.0339 payable in shares of common stock
5.86% 07/16/18
03/29/18 $0.1410 payable in cash
$0.0339 payable in shares of common stock
5.86% 04/16/18
12/29/17 $0.1410 payable in cash
$0.0339 payable in shares of common stock
5.86% 01/16/18
07/01/17 -09/30/17 $0.0015323 per day in cash
$0.0003687 per day in stock
5.86% 10/16/17
04/13/17 -06/30/17 $0.0015491 per day in cash
$0.0003727 per day in stock
5.86% 07/14/17
Following the announcement of CWI 2’s estimated net asset value per share (NAV) on April 12, 2017, CWI 2 adjusted its purchase price based on the NAV to $11.93 per Class A share. Beginning on April 13, 2017, annualized distribution rates are calculated using the updated purchase price for Class A shares. Annualized distribution rates prior to this are calculated using the purchase price of $11.70 per share.
04/01/17 -04/12/17 $0.0015178 per day in cash
$0.0003727 per day in stock
5.86%1 07/14/17
01/01/17 -03/31/17 $0.0015347 per day in cash
$0.0003688 per day in stock
5.86%1 04/17/17
10/01/16 -12/31/16 $0.0015013 per day in cash
$0.0003608 per day in stock
5.86%1 01/13/17
07/01/16 -09/30/16 $0.0015013 per day in cash
$0.0003608 per day in stock
5.86%1 10/14/16
04/01/16 -06/30/16 $0.0015178 per day in cash
$0.0002892 per day in stock
5.62%1 07/15/16
Following the announcement of CWI 2’s estimated net asset value per share (NAV) in March 2016, CWI 2 adjusted its purchase price based on the NAV to $11.70 per Class A share. Beginning in the second quarter of 2016, annualized distribution rates are calculated using the updated purchase price for Class A shares. Annualized distribution rates prior to this are calculated using the purchase price of $10.00 per share.
01/01/16 -03/31/16 $0.0013736 per day in cash
$0.0002747 per day in stock
6.00%2 04/15/16
10/01/15 -12/31/15 $0.0013586 per day in cash
$0.0002717 per day in stock
6.00%2 01/15/16
07/01/15 -09/30/15 $0.0013586 per day in cash
$0.0002717 per day in stock
6.00%2 10/15/15
05/15/15 -06/30/15 $0.0013736 per day in cash
$0.0002747 per day in stock
6.00%2 07/15/15
Record Date(s) Distribution Rate Annualized Distribution Rate Payable Date
09/30/19 $0.1153 payable in cash
$0.0339 payable in shares of common stock
5.29% 10/15/19
06/28/19 $0.1150 payable in cash
$0.0339 payable in shares of common stock
5.28% 07/15/19
03/29/19 $0.1155 payable in cash
$0.0339 payable in shares of common stock
5.30% 04/15/19
12/31/18 $0.1153 payable in cash
$0.0339 payable in shares of common stock
5.29% 01/15/19
09/28/18 $0.1150 payable in cash
$0.0339 payable in shares of common stock
5.28% 10/15/18
06/29/18 $0.1147 payable in cash
$0.0339 payable in shares of common stock
5.27% 07/16/18
03/29/18 $0.1153 payable in cash
$0.0339 payable in shares of common stock
5.29% 04/16/18
12/29/17 $0.1174 payable in cash
$0.0339 payable in shares of common stock
5.37% 01/16/18
07/01/17 -09/30/17 $0.0012405 per day in cash
$0.0003687 per day in stock
5.25% 10/16/17
04/13/17 -06/30/17 $0.0012541 per day in cash
$0.0003727 per day in stock
5.25% 07/14/17
Following the announcement of CWI 2’s estimated net asset value per share (NAV) on April 12, 2017, CWI 2 adjusted its purchase price based on the NAV to $11.28 per Class T share. Beginning on April 13, 2017, annualized distribution rates are calculated using the updated purchase price for Class T shares. Annualized distribution rates prior to this are calculated using the purchase price of $11.05 per share.
04/01/17 -04/12/17 $0.0012285 per day in cash
$0.0003648 per day in stock
5.25%<sup>1</sup> 07/14/17
01/01/17 -03/31/17 $0.0012422 per day in cash
$0.0003688 per day in stock
5.25%<sup>1</sup> 04/17/17
10/01/16 -12/31/16 $0.0012152 per day in cash
$0.0003608 per day in stock
5.25%<sup>1</sup> 01/13/17
07/01/16 -09/30/16 $0.0012152 per day in cash
$0.0003608 per day in stock
5.25%<sup>1</sup> 10/14/16
04/01/16 -06/30/16 $0.0012285 per day in cash
$0.0002892 per day in stock
5.00%<sup>1</sup> 07/15/16
Following the announcement of CWI 2’s initial estimated net asset value per share (NAV) in March 2016, CWI 2 adjusted its purchase price based on the NAV to $11.05 per Class T share. Beginning in the second quarter of 2016, annualized distribution rates are calculated using the updated purchase price for Class T shares. Annualized distribution rates prior to this are calculated using the original purchase price of $9.45 per share.
01/01/16 -03/31/16 $0.0011291 per day in cash
$0.0002596 per day in stock
5.35%<sup>2</sup> 04/15/16
10/01/15 -12/31/15 $0.0011168 per day in cash
$0.0002567 per day in stock
5.35%<sup>2</sup> 01/15/16
07/01/15 -09/30/15 $0.0011168 per day in cash
$0.0002567 per day in stock
5.35%<sup>2</sup> 10/15/15
05/15/15 -06/30/15 $0.0011291 per day in cash
$0.0002596 per day in stock
5.35%<sup>2</sup> 07/15/15

As of April 2017, CWI® 2’s annualized distribution rates are based on a purchase price of $11.93 per share for Class A shares and $11.28 per share for Class T shares. Past performance is not a guarantee of future results.

  1. Based on a purchase price of $11.70 per share for Class A shares and $11.05 per share for Class T shares.

  2. Based on a purchase price of $10.00 per share for Class A shares and $9.45 per share for Class T shares.

 

Related Pages

Corporate Governance

View CWI® 2’s Management and Board of Directors and access governance and charter documents.

Learn More

Press Releases

Access CWI® 2’s press releases.

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SEC Filings

Access CWI® 2’s SEC Filings.

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Organizational Actions

Access CWI® 2’s distribution filings since inception.

Learn More
 

For more information, contact us

For a full portfolio listing, please access the Portfolio Snapshot.