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Lone Star to Purchase 38 Hyatt Hotels for $590M

DALLAS

Lone Star Funds, a Dallas-based private equity firm founded by billionaire John Grayken, has agreed to buy 38 select-service Hyatt Place and Hyatt House hotels for around $590 million.

The properties included in the purchase—consisting of 4,950 total rooms—will retain Hyatt Place and Hyatt House branding, as part of a franchising agreement with Lone Star.

According to Hyatt, the transaction is expected to be completed in November 2014 and is subject to customary closing conditions and approvals.

The $590 million Hyatt portfolio includes:

11 Hyatt House Properties

  • Hyatt House Boston/Burlington, (Burlington, Mass., 150 rooms).
  • Hyatt House Branchburg, (Branchburg, N.J., 139 rooms).
  • Hyatt House Sterling/Dulles Airport-North, (Sterling, Va., 162 rooms).
  • Hyatt House Fishkill/Poughkeepsie (Fishkill, N.Y., 135 rooms).
  • Hyatt House Morristown (Morristown, N.J., 132 rooms).
  • Hyatt House Raleigh Durham Airport (Morrisville, N.C., 141 rooms).
  • Hyatt House Parsippany-East (Parsippany, N.J., 140 rooms).
  • Hyatt House Parsippany Whippany, (Whippany, N.J., 135 rooms).
  • Hyatt House Philadelphia/Plymouth Meeting (East Norriton, Pa., 131 rooms).
  • Hyatt House Richmond-West (Richmond, Va., 134 rooms).
  • Hyatt House Shelton (Shelton, Conn., 127 rooms).

27 Hyatt Place Properties

  • Hyatt Place Albuquerque Airport (Albuquerque, N.M., 127 rooms).
  • Hyatt Place Atlanta/Alpharetta/Windward Parkway (Alpharetta, Ga., 127 rooms).
  • Hyatt Place Atlanta/Norcross/Peachtree (Norcross, Ga., 126 rooms).
  • Hyatt Place Birmingham/Inverness (Birmingham, Ala., 126 rooms).
  • Hyatt Place Boise/Towne Square (Boise, Idaho, 127 rooms).
  • Hyatt Place Charlotte Airport/Tyvola Road (Charlotte, N.C., 127 rooms).
  • Hyatt Place Chicago/Itasca (Itasca, Ill., 126 rooms).
  • Hyatt Place Cincinnati Airport/Florence (Florence, Ky., 126 rooms).
  • Hyatt Place Cincinnati Northeast (Mason, Ohio, 127 rooms).
  • Hyatt Place Cleveland/Independence (Independence, Ohio, 127 rooms).
  • Hyatt Place Denver Airport (Aurora, Colo., 126 rooms).
  • Hyatt Place Detroit/Auburn Hills (Auburn Hills, Mich., 127 rooms).
  • Hyatt Place Detroit/Livonia (Livonia, Mich., 127 rooms).
  • Hyatt Place Lakeland Center (Lakeland, Fla., 127 rooms).
  • Hyatt Place Louisville-East (Louisville, Ky., 121 rooms).
  • Hyatt Place Memphis/Primacy Parkway (Memphis, Tenn., 126 rooms).
  • Hyatt Place Mystic (Mystic, Conn., 79 rooms).
  • Hyatt Place Oklahoma City Airport (Oklahoma City, Okla., 126 rooms).
  • Hyatt Place Omaha/Downtown-Old Market (Omaha, Neb., 159 rooms).
  • Hyatt Place Nashville/Brentwood (Brentwood, Tenn., 124 rooms).
  • Hyatt Place Nashville/Opryland (Nashville, Tenn., 123 rooms).
  • Hyatt Place Pittsburgh Airport (Pittsburgh, Pa., 127 rooms).
  • Hyatt Place Pittsburgh/Cranberry (Cranberry Township, Pa., 127 rooms).
  • Hyatt Place Richmond/Arboretum (Richmond, Va., 127 rooms).
  • Hyatt Place Sacramento/Rancho Cordova (Rancho Cordova, Calif., 127 rooms).
  • Hyatt Place Secaucus/Meadowlands (Secaucus, N.J., 159 rooms).
  • Hyatt Place Tampa/Busch Gardens (Tampa, Fla., 126 rooms).

Hyatt Hotels Corporation is headquartered in Chicago and the company’s subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt, Park Hyatt, Andaz, Grand Hyatt, Hyatt Regency, Hyatt Place, Hyatt House, Hyatt Zilara and Hyatt Ziva brand names.

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