Deals
Hyatt Hotels to Pay $802 Million for 24 LodgeWorks Properties
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Hyatt Hotels Corp., the chain controlled by the Pritzker family, said it agreed to buy 24 properties for about $802 million in cash to expand its extended-stay lodging business.
The company will buy the hotels from LodgeWorks LP, a closely held developer, and its private-equity partners, Chicago-based Hyatt said in a statement today. The purchase includes management, franchise and intellectual-property rights.