February 23, 2018 Comments Off on Hyatt Sells San Francisco Hotel in Three-Property, $1B Deal Views: 2668 Bay Area, California News

Hyatt Sells San Francisco Hotel in Three-Property, $1B Deal

The Grand Hyatt San Francisco was part of a trio of hotel properties divested by Hyatt Hotels Corporation to Host Hotels & Resorts for roughly $1 billion. The agreement also included the 301-room Andaz Maui at Wailea Resort in Hawaii, and the 454-room Hyatt Regency Coconut Point Resort and Spa in southwest Florida.

Hyatt Hotels’ Mark S. Hoplamazian says, “This agreement demonstrates the value of our owned and leased hotels, and strengthens our longstanding and valued business relationship with Host.”

Two of the three hotels, Andaz Maui and the 668-room Grand Hyatt San Francisco, reflect a combined attributed sale value of roughly $800 million, and form part of Hyatt’s ongoing $1.5 billion permanent sell-down program. 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.

Read more at Hyatt Hotels

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