Real Estate
Hilton Agrees to Buy Graduate Hotels Brand for $210 Million
- Graduate focuses on hotels in college and university towns
- AJ Capital will retain ownership of underlying real estate
The Hilton San Diego Bayfront hotel in San Diego, California.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Hilton Worldwide Holdings Inc. agreed to buy Graduate Hotels, a lodging brand focused on college campuses, for $210 million.
Hilton will seek to help boost the brand, with Chief Executive Officer Chris Nassetta saying that the addressable market for Graduate is 400 to 500 hotels globally, according to a statement Thursday confirming an earlier Bloomberg News report. There are currently more than 30 hotels in Graduate’s portfolio.