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Hyatt Buys 24 Hotels For $802M

Hyatt Hotels has acquired a suite of 24 U.S. hotels for $802 million in cash from LodgeWorks.

Hyatt Hotels has acquired a suite of 24 U.S. hotels for $802 million in cash from LodgeWorks, The Wall Street Journal reports. As part of the deal, LodgeWorks’ executives, including President B Isaac, will join Hyatt.

Sixteen of the hotels are extended-stay properties, which will be converted to the Hyatt brand. Currently, Hyatt Hotels has 451 hotels in its portfolio.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from Bloomberg.

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