Caliber to bring 15 Hyatt Studios to key U.S. markets

 

Real estate investor, developer and manager Caliber has entered into a development rights agreement with an affiliate of Hyatt Hotels Corporation to develop 15 new Hyatt Studios hotels in the U.S. Under the terms of the agreement, Caliber Hospitality Development (CHD) will receive exclusive development rights for future development of Hyatt Studios hotels in target market areas within Arizona, Colorado, Nevada, Texas and Louisiana.

Construction on the first hotel, located in Georgetown, TX, a city within the Austin metropolitan district, is expected to break ground in the fourth quarter of 2025. The second hotel within the agreement will be in Scottsdale, AZ and is expected to break ground in the second quarter of 2026.

“Our new Hyatt Studios brand has been steadily growing since we announced it in 2023, and today we have more than 50 executed deals that will extend the Hyatt brand into more than 20 new markets,” said Jim Chu, chief growth officer, Hyatt. “We are excited to be working with Caliber on the development of at least 15 new properties, many of which are expected to be located in new markets for Hyatt. This significant development agreement will advance Hyatt’s ongoing evolution, as we aim to make our brands even more profitable for owners and more desirable for travelers.”

Chris Loeffler, CEO, Caliber, “We are very excited about our new relationship with Hyatt, a world-class brand that shares our steadfast commitment to superior service for our guests. As a hospitality investor and developer since 2013, Caliber has taken notice that hotel inventory across the U.S. is lower today than it was in January of 2020. This, combined with historically low new construction starts and a recent return of demand for hotel rooms, makes the case to develop Hyatt Studios hotels in attractive, underserved markets. The Hyatt Studios brand offers Caliber the opportunity to capture a fundamental change in the way people work and their desire to stay in a hotel that feels like home for a longer trip.”

Caliber expects to develop 15 hotels over the course of the next three to five years, as the market bears opportunities, and will seek to expand the agreement if market conditions allow. The company expects these developments to deliver $400 million in additional assets under management (AUM) to the platform, delivering an attractive operating margin and significant growth in annual and one-time platform revenue.

Tags:  Real estate,  Chris Loeffler,  Caliber, Jim Chu.   Hyatt