Summit Hotel Properties Closes Acquisition Of Hyatt Portfolio

Summit Hotel Properties, Inc. (NYSE: INN) (the “Company”) today announced the closing of its acquisition of eight hotels containing an aggregate of 1,043 guestrooms (the “Hyatt Portfolio”) from certain affiliates of Hyatt Hotels Corporation (Hyatt”) for a purchase price of $87.4 million.
          Number of

Hotel

Location

Rooms
Hyatt Place-Arlington Dallas (Arlington), TX 127
Hyatt Place-Park Meadows Denver (Lone Tree), CO 127
Hyatt Place-Denver Tech Center Denver (Englewood), CO 126
Hyatt House-Denver Tech Center Denver (Englewood), CO 135
Hyatt Place-Owings Mills Baltimore (Owings Mills), MD 123
Hyatt Place-Lombard Chicago (Lombard), IL 151
Hyatt Place-Phoenix Phoenix, AZ 127
Hyatt Place-Scottsdale Scottsdale, AZ 127
Total 1,043
 

The Company has entered into an agreement with Select Hotels Group, L.L.C., an affiliate of Hyatt, to operate each hotel.

If you liked this article you might like

Pebblebrook Hotel Trust Is a Great Stock to Buy Right Now

Why It Might Be Time to Start Checking Out of Hotel Stocks

These 2 Under-the-Radar REITs Are Bargains Based on Total Returns

Summit Hotels Is an Undervalued Yield Play

Summit Hotels Is an Undervalued Yield Play

Summit Hotel Properties (INN) Highlighted As Strong And Under The Radar Stock Of The Day