Hyatt Announces Sale of Hyatt Regency Indianapolis
03 February 2015 - 9:15AM
Business Wire
Hyatt Hotels Corporation (NYSE: H) today announced that a
Hyatt affiliate has sold the 499-room Hyatt Regency Indianapolis to
a private equity joint venture for approximately $71 million. The
joint venture members include Silverpeak Real Estate Partners, a
privately held real estate investment advisory business, and
executives of Davidson Hotels & Resorts. The Purchaser intends
to spend approximately $4 million in additional capital
expenditures over the next three years. As part of the sale, a
Hyatt affiliate has entered into a franchise agreement with the
purchaser and the hotel will retain its Hyatt Regency branding.
“We are delighted to work with this joint venture as we continue
our asset recycling strategy to continue to grow strategically,”
said Steve Haggerty, global head of capital strategy, franchising
and select service, Hyatt. “This transaction allows us to retain
brand presence in the market and expand our relationship with an
owner who is investing in our brand.”
Hyatt Regency Indianapolis is conveniently located near local
attractions, including the Children’s Museum of Indianapolis,
Conner Prairie Interactive History Park and the Indianapolis Motor
Speedway and is just 10 miles from the Indianapolis International
Airport. Located at One South Capital Avenue in historic downtown
Indianapolis, the 22-story hotel shares an atrium with the PNC
Center and is connected via climate-controlled walkway to the
Indianapolis Convention Center, Lucas Oil Stadium, Circle Center
Mall and the Arts Garden. Hyatt Regency Indianapolis is also within
walking distance of the state capitol, Bankers Life Fieldhouse,
Indiana University-Purdue University Indianapolis (IUPUI) and the
NCAA Hall of Fame.
Hotel amenities include more than 35,000 square feet of meeting
space, indoor pool, 24-hour Stay Fit™ gym and cardio center and
bicycle rentals. The hotel also offers four dining options: One
South, serving breakfast and lunch, Level One lounge, a
full-service Starbucks and the rotating Eagle’s Nest rooftop. Guest
rooms are equipped with plush Hyatt Grand Beds®, an oversized work
area and modern amenities like flat-screen televisions.
The term “Hyatt” is used in this release for convenience to
refer to Hyatt Hotels Corporation and/or one or more of its
affiliates.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading
global hospitality company with a proud heritage of making guests
feel more than welcome. Thousands of members of the Hyatt family
strive to make a difference in the lives of the guests they
encounter every day by providing authentic hospitality. The
Company’s subsidiaries develop, own, operate, manage, franchise,
license or provide services to hotels, resorts, branded residences
and vacation ownership properties, including under the Hyatt®,
Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®,
Hyatt House®, Hyatt Zilara™, Hyatt Ziva™, Hyatt Residences® and
Hyatt Residence Club® brand names and have locations on six
continents. As of September 30, 2014, the Company's worldwide
portfolio consisted of 573 properties in 48 countries. For more
information, please visit www.hyatt.com.
Hyatt Hotels CorporationAmy
Patti+1-312.780.5620amy.patti@hyatt.com
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