Hyatt Hotels Corporation will acquire 24 hotels from LodgeWorks for a total of $802 million. The properties will allow Hyatt to introduce its brand to nine new markets and establish its extended-stay presence in 16 new locations. Following the transaction, 16 Hotel Sierra hotels will be branded as Hyatt Summerfield Suites, increasing the number of hotels in that portfolio from 38 to 54. Five properties, including the AVIA Hotels, are expected to be converted to full-service Hyatt brands. The brand affiliations of Hyatt Summerfield Suites and Hyatt Place properties in the LodgeWorks portfolio will remain unchanged.
Hyatt Acquires LodgeWorks’ Portfolio
The deal will introduce the brand to nine new markets and expand its extended-stay presence in 16 locations.
Hyatt Acquires LodgeWorks’ Portfolio
The deal will introduce the brand to nine new markets and expand its extended-stay presence in 16 locations.
