SUNSTONE HOTEL INVESTORS TO ACQUIRE HYATT REGENCY SAN ANTONIO RIVERWALK [Yahoo! Finance]
Hyatt Hotels Corporation Class A (H)
Last hyatt hotels corporation class a earnings: 2/19 04:30 pm
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Source: Yahoo! Finance
entered into a definitive agreement with an affiliate of Hyatt Hotels Corporation to acquire the fee-simple interest in the 630-room Hyatt Regency San Antonio Riverwalk (the "Hotel"). The exceptionally well-located Hotel is situated directly between San Antonio's famous Riverwalk and the Alamo , the two most visited tourist sites in Texas . The acquisition includes nearly two acres of riverfront land and a 516-space parking garage, located adjacent to the Alamo Visitor Center and Museum which is currently under development. The Hotel recently underwent a comprehensive $37 million guestroom renovation and does not have any meaningful required near-term capital needs. Sunstone is acquiring the hotel for a gross purchase price of $230 million . Hyatt will continue to manage the Hotel under the Hyatt Regency brand and will contribute approximately $8 million of key money as part of the transaction, subject to the terms of the Company's management agreement with Hyatt. Inclusive of the i
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Earnings
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Sec Filings
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- 4/26/24 - Form 4
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