Sunstone Hotel Investors, Inc. completed the acquisition of Hyatt Regency San Antonio Riverwalk Hotel from Hyatt Hotels Corporation (NYSE:H).
April 22, 2024
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Sunstone Hotel Investors, Inc. (NYSE:SHO) agreed to acquire Hyatt Regency San Antonio Riverwalk Hotel from Hyatt Hotels Corporation (NYSE:H) for $220 million on April 10, 2024. The net purchase price implies a value of approximately $352,000 per key. The acquisition will be funded from cash on hand using a portion of the sale proceeds from the previously completed $370 million disposition of Boston Park Plaza. In a related transaction, Hyatt will continue to manage the hotel under its Hyatt Regency banner and will pay approximately $8 million in advance to secure the management agreement as part of the transaction. The deal is expected to close in late April 2024.
Sunstone Hotel Investors, Inc. (NYSE:SHO) completed the acquisition of Hyatt Regency San Antonio Riverwalk Hotel from Hyatt Hotels Corporation (NYSE:H) on April 23, 2024.
Hyatt Hotels Corporation is a global hospitality company. The Companyâs portfolio of properties consists of full-service hotels and resorts, select service hotels, all-inclusive resorts, and other properties, including timeshare, fractional, and other forms of residential and vacation units. Its offering includes brands in the Timeless Collection, including Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt, Hyatt Vacation Club, Hyatt Place, Hyatt House, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval, Alila, Andaz, Thompson Hotels, Dream Hotels, Hyatt Centric, and Caption by Hyatt; the Independent Collection, including The Unbound Collection by Hyatt, Destination by Hyatt, and JdV by Hyatt; and the Inclusive Collection, including Impression by Secrets, Hyatt Ziva, Hyatt Zilara, Zoetry Wellness & Spa Resorts, Secrets Resorts & Spas, Breathless Resorts & Spas, Dreams Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts, and Sunscape Resorts & Spas.