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Hyatt Announces Purchase Of Hyatt Regency Birmingham

Stocks in this article: H

Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has purchased the Hyatt Regency Birmingham hotel in the United Kingdom for approximately USD$43 million.

The hotel has operated as Hyatt Regency Birmingham since its opening in 1990. Through its affiliates, Hyatt was one of the original co-owners, and since 2002 the hotel has been operated under a third-party management agreement. Starting in 2013, a Hyatt affiliate plans to invest approximately USD$10 million to renovate the hotel to strengthen its position as one of the leading hotels in Birmingham.

One of the best-situated hotels in Birmingham city center, Hyatt Regency Birmingham is a modern, four-star hotel that enjoys an unrivalled central location adjacent to Centenary Square. With a bridge link to the city’s landmark International Convention Centre, it is one of the leading convention hotels not just in Birmingham, but in the United Kingdom, regularly hosting such events as the annual conferences of the major political parties. It is also across the road from Birmingham’s Symphony Hall, and is just minutes from the National Indoor Arena (NIA) and the exclusive Mailbox and Bull Ring shopping centers. Occupying the entirety of a 24-story, glass-fronted building, the hotel dominates the skyline of central Birmingham.

“The team at the hotel is delighted at the news that a Hyatt affiliate has purchased the hotel, and as one of the most popular hotels in the city amongst both business and leisure guests, we have a proud history of hospitality in Birmingham and look forward to the exciting times ahead,” said Tim Flodin, General Manager, Hyatt Regency Birmingham. “At Hyatt Regency Birmingham, we are committed to supporting the local community, working closely with surrounding businesses, colleges and charities, including the Queen Elizabeth Hospital, Stourbridge College, University College Birmingham and catering college KHCSC.”

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