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Hyatt Announces $1.0 Billion Sale of Three-Property Portfolio; Increases Guidance for Return of Shareholder Capital

HYATT HOTELS (H)  More Company Research Source: Business Wire
Last hyatt hotels earnings: 7/31 04:15 pm Check Earnings Report
PDF CHICAGO--(BUSINESS WIRE)-- Hyatt Hotels Corporation (NYSE: H) today announced that Hyatt has reached a definitive agreement with Host Hotels & Resorts (NYSE: HST) for the sale of the 301-room Andaz Maui at Wailea Resort, the 668-room Grand Hyatt San Francisco, and the 454-room Hyatt Regency Coconut Point Resort and Spa for approximately $1.0 billion. The sale reflects a blended EBITDA multiple of approximately 16x based on Hyatt’s 2018 pro-forma estimates. Hyatt will continue to manage the three hotels under long-term management agreements. The transaction is expected to close near the end of March 2018. Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, “This agreement demonstrates the value of our owned and leased hotels and strengthens our longstanding and valued business relationship with Host. The completion of this transaction not only allows Hyatt to main [Read more]

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