CHICAGO—In the second lodging portfolio deal within the space of a day, locally based Hyatt Hotels Corp. said Thursday evening that it was selling 38 Hyatt Place and Hyatt House properties through affiliates to a company organized by Lone Star Funds for $590 million. The Chicago-based hotelier is also marketing another six select service assets.

As part of the sale, which is expected to close in November, Hyatt will enter into franchise agreements with the Lone Star entity. All of the properties in the 4,950-key portfolio will maintain their existing Hyatt Place and Hyatt House branding.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.