Hyatt Corporation is to purchase the 143-unit AmeriSuites hotel chain from affiliates of The Blackstone Group.
The move is part of the process resulting in the formation of Global Hyatt Corporation, a new parent company for Hyatt Hotels Corporation (US, Canada and Caribbean hotel operations), Hyatt International Corporation (international hotel operations), Hyatt Equities (hotel ownership) and Hyatt Vacation Club. (timeshare).
AmeriSuites is an all-suite, limited service hotel brand in the US. Hyatt’s acquisition will enable it to create a new brand distinct from its existing portfolio of 214 hotels in 43 countries worldwide.
Following its acquisition of AmeriSuites, Hyatt plans to invest more than $150m on capital expenditure and brand and marketing innovations.
References: EGi News 30/12/04
