Hyatt Announces Sale of Hyatt Regency Denver Tech Center
-Hyatt Hotels Corporation (NYSE: H) today announced that an affiliate of Hyatt has sold the 451-room Hyatt Regency Denver Tech Center to an affiliate of JMI Realty for approximately $60 million or $133,000 per key. As part of the sale, Hyatt has also entered into a franchise agreement with JMI Realty. Davidson Hotels & Resorts will manage the hotel for JMI Realty under the Hyatt Regency flag.
-Hyatt Hotels Corporation (NYSE: H) today announced that an affiliate of Hyatt has sold the 451-room Hyatt Regency Denver Tech Center to an affiliate of JMI Realty for approximately $60 million or $133,000 per key. As part of the sale, Hyatt has also entered into a franchise agreement with JMI Realty. Davidson Hotels & Resorts will manage the hotel for JMI Realty under the Hyatt Regency flag.
"This transaction allows Hyatt to retain its brand presence in the Denver Tech Center area and furthers our capital recycling strategy, which allows us to continue to achieve strategic growth," said Stephen Haggerty, global head, real estate and capital strategy for Hyatt. "We are excited to enter into a relationship with an owner as respected as JMI Realty, and we believe their planned renovation of the hotel's meeting space will help maintain the Hyatt Regency brand's reputation as a superior place for meetings and events."
The recently renovated Hyatt Regency Denver Tech Center is the only hotel in the Denver Tech Center area to earn the AAA Four Diamond status. The hotel features more than 30,000 square feet of function space, the recently opened Root25 Taphouse & Kitchen which highlights Colorado craft beer, spirits and locally sourced ingredients and Perks Coffee & Go, a gourmet market offering Starbucks®coffee and specialty breakfast and lunch items.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of June 30, 2024, the Company's portfolio included more than 1,350 hotels and all-inclusive properties in 78 countries across six continents. The Company's 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®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith™, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.
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