The nationâs largest lodging investment trust has purchased Bakerâs Cay Resort for $200 million. Host Hotels and Resorts Inc. owns 78 properties in the United States and five internationally for a total of approximately 47,499 rooms. The company also holds non-controlling interests in six domestic and one international joint ventures. The 200-room Bakerâs Cay, located at mile marker 97 in Key Largo, is the companyâs first hotel in the Florida Keys. âAfter a complete $63 million renovation and repositioning in 2019, Bakerâs Cay shows like a new resort,â said James F. Risoleo, president and CEO of Host Hotels and Resorts. âThe Florida Keys market benefits from excellent supply-demand dynamics owing in part to strict development ordinances, which have led to the highest 2019 upper-scale RevPAR (revenue per available room) of any market in the U.S.â