RLJ Lodging Trust Closes $313M, 10-Hotel Portfolio Deal
Thursday March 13th, 2014 - 9:20AM BEH
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BETHESDA, MD—RLJ Lodging Trust and Hyatt Hotels Corp. closed on the previously announced purchase and sale of 10 Hyatt, Hyatt Place and Hyatt House hotels, totaling 1,560 rooms.
Hyatt affiliates will manage the hotels.
The portfolio, with hotels located primarily on the West Coast, was acquired for approximately $313 million. RLJ intends to spend approximately $25 million in capital expenditures across the portfolio, the majority of which will be invested over the next 24 months.
Tags: RLJ Lodging Trust • Hyatt Hotels Corp • Hospitality • Brands • Acquisitions • Ownership •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.