News for the Hospitality Executive |
“We are very excited to acquire our third “One of the core ways we will continue to achieve strategic
growth is through capital recycling. This transaction creates value as
it unlocks capital at a strong pricing level, maintains our long-term
brand presence in the market, and expands a relationship with a good
owner who is investing in the property through a renovation program,”
said The five-story property is located on The Trust intends to commence a renovation of the hotel in
the fourth quarter 2014. The design will capture a sophisticated spin
on the maritime and nautical themes presenting itself within the ABOUT CHESAPEAKE LODGING TRUST Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place® and Hyatt House® brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Residence ClubTM. As of March 31, 2013, the Company's worldwide portfolio consisted of 508 properties in 46 countries. For more information, please visit www.hyatt.com Certain statements and assumptions in this press release contain or are based upon “forward-looking” information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When we use the words “will,” may,” “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” or similar expressions, we intend to identify forward-looking statements.Such statements are subject to numerous assumptions and uncertainties, many of which are outside of Chesapeake Lodging Trust’s or Hyatt’s control, which could cause actual results to differ materially from those expressed in or implied by the content of this document. Forward looking statements made in this press release are made only as of the date of their initial publication and neither party undertakes an obligation to publicly update any of these forward looking statements as actual events unfold. |
Contact::
Chesapeake Lodging Trust Douglas W. Vicari, 410-972-4142 or Hyatt Hotels Corporation Katie Rackoff, 312-780-5361 [email protected] |