Hyatt Hotels Corporation today announced that its affiliates have closed on the previously announced sale of 38 hotels to a company organized by Lone Star Funds (the “Purchaser”). The portfolio of 38 hotels (the “Hyatt Portfolio”) consists of Hyatt Place and Hyatt House hotels totaling 4,950 rooms. As part of the sale, Hyatt has entered into franchise agreements with the Purchaser, with all hotels retaining their existing Hyatt Placeand Hyatt House branding.
The total proceeds from the sale of the Hyatt Portfolio, which is comprised of the hotels listed below, were approximately$590 million. The Purchaser intends to spend approximately $50 million in additional capital expenditures across the Hyatt Portfolio over the next 24 months.
| Property | City | State | Rooms | |||
| Hyatt House Boston/Burlington | Burlington | MA | 150 | |||
| Hyatt House Branchburg | Branchburg | NJ | 139 | |||
| Hyatt House Sterling/Dulles Airport-North | Sterling | VA | 162 | |||
| Hyatt House Fishkill/Poughkeepsie | Fishkill | NY | 135 | |||
| Hyatt House Morristown | Morristown | NJ | 132 | |||
| Hyatt House Raleigh Durham Airport | Morrisville | NC | 141 | |||
| Hyatt House Parsippany-East | Parsippany | NJ | 140 | |||
| Hyatt House Parsippany Whippany | Whippany | NJ | 135 | |||
| Hyatt House Philadelphia/Plymouth Meeting | East Norriton | PA | 131 | |||
| Hyatt House Richmond-West | Richmond | VA | 134 | |||
| Hyatt House Shelton | Shelton | CT | 127 | |||
| Hyatt Place Albuquerque Airport | Albuquerque | NM | 127 | |||
| Hyatt Place Atlanta/ Alpharetta/Windward Parkway | Alpharetta | GA | 127 | |||
| Hyatt Place Atlanta/ Norcross/Peachtree | Norcross | GA | 126 | |||
| Hyatt Place Birmingham/Inverness | Birmingham | AL | 126 | |||
| Hyatt Place Boise/Towne Square | Boise | ID | 127 | |||
| Hyatt Place Charlotte Airport/Tyvola Road | Charlotte | NC | 127 | |||
| Hyatt Place Chicago/Itasca | Itasca | IL | 126 | |||
| Hyatt Place Cincinnati Airport/Florence | Florence | KY | 126 | |||
| Hyatt Place Cincinnati- Northeast | Mason | OH | 127 | |||
| Hyatt Place Cleveland/ Independence | Independence | OH | 127 | |||
| Hyatt Place Denver Airport | Aurora | CO | 126 | |||
| Hyatt Place Detroit/Auburn Hills | Auburn Hills | MI | 127 | |||
| Hyatt Place Detroit/ Livonia | Livonia | MI | 127 | |||
| Hyatt Place Lakeland Center | Lakeland | FL | 127 | |||
| Hyatt Place Louisville-East | Louisville | KY | 121 | |||
| Hyatt Place Memphis/ Primacy Parkway | Memphis | TN | 126 | |||
| Hyatt Place Mystic | Mystic | CT | 79 | |||
| Hyatt Place Oklahoma City Airport | Oklahoma City | OK | 126 | |||
| Hyatt Place Omaha/Downtown-Old Market | Omaha | NE | 159 | |||
| Hyatt Place Nashville/ Brentwood | Brentwood | TN | 124 | |||
| Hyatt Place Nashville/ Opryland | Nashville | TN | 123 | |||
| Hyatt Place Pittsburgh Airport | Pittsburgh | PA | 127 | |||
| Hyatt Place Pittsburgh/ Cranberry | Cranberry Township | PA | 127 | |||
| Hyatt Place Richmond/ Arboretum | Richmond | VA | 127 | |||
| Hyatt Place Sacramento/ Rancho Cordova | Rancho Cordova | CA | 127 | |||
| Hyatt Place Secaucus/ Meadowlands | Secaucus | NJ | 159 | |||
| Hyatt Place Tampa/ Busch Gardens | Tampa | FL | 126 | |||
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
Source:- Hyatt
