CHICAGO--(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.
Source: Hyatt Hotels Corporation