Hyatt Announces Closing of 38 Select Service Hotel Portfolio

November 14, 2014 // Franchising.com // CHICAGO – Hyatt Hotels Corporation (NYSE: H) 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 Place and 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.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company’s subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences and vacation ownership properties, including under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt House®, Hyatt Zilara™, Hyatt Ziva™, Hyatt Residences® and Hyatt Residence Club® brand names and have locations on six continents. As of September 30, 2014, the Company's worldwide portfolio consisted of 573 properties in 48 countries. For more information, please visit www.hyatt.com.

SOURCE Hyatt Hotels Corporation

Contacts:

Amy Patti
Media Relations
312 780 5620
amy.patti@hyatt.com

Atish Shah
Investor Relations
312 780 5427
atish.shah@hyatt.com

 

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