RLJ Lodging Trust (NYSE: RLJ) (“RLJ”) and Hyatt Hotels Corporation (NYSE: H) (“Hyatt”) today announced that their affiliates have closed on the previously announced purchase and sale of 10 Hyatt, Hyatt Place and Hyatt House hotels, totaling 1,560 rooms. Hyatt affiliates will manage the hotels under new management agreements.
The portfolio, which is comprised of the hotels listed below and located primarily on the West Coast, was acquired for a total purchase price of approximately $313 million. RLJ intends to spend approximately $25 million in capital expenditures across the portfolio, the majority of which will be invested over the next 24 months.
Details of the hotels are listed below:
|Hyatt House Cypress / Anaheim||Cypress||CA||142|
|Hyatt House Emeryville / SF Bay Area||Emeryville||CA||234|
|Hyatt Place Fremont / Silicon Valley||Fremont||CA||151|
|Hyatt House San Diego / Sorrento Mesa||San Diego||CA||193|
|Hyatt House San Jose / Silicon Valley||San Jose||CA||164|
|Hyatt House San Ramon||San Ramon||CA||142|
|Hyatt House Santa Clara||Santa Clara||CA||150|
|Hyatt Market Street, The Woodlands||Woodlands||TX||70|
|Hyatt House Charlotte / Center City||Charlotte||NC||163|
|Hyatt Place Madison / Downtown||Madison||WI||151|
With the addition of these hotels, RLJ owns 147 properties, consisting of 145 hotels with approximately 22,500 rooms and two planned hotel conversions, located in 22 states and the District of Columbia.
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