Hyatt sells Atlanta Regency for $355M

On all bookings made within 2018, guests who cancel with less than 48 hours of advance notice will now be charged for the cost of one night’s stay.
The 1,260-room Hyatt Regency Atlanta's new owner plans to invest "significant capital" into the hotel over the next several years. Photo credit: Hyatt Hotels Corp.

Hyatt Hotels Corp. sold the 1,260-room Hyatt Regency Atlanta to an unnamed buyer for $355 million. As part of the sale, the new owner plans to invest “significant capital” into the hotel of the next several years.

The Hyatt Regency Atlanta features 180,000 square feet of meeting rooms and other event space, four dining outlets, a 5,000-square-foot fitness center and a seasonal outdoor pool. Hyatt entered a long-term management agreement to operate the hotel upon its sale.

Hyatt expects a net reduction in consolidated adjusted earnings before interest, taxes, depreciation and amortization of approximately $8 million over the rest of the year, according to the SEC filing disclosing the sale. Due to cash dividends on its common stocks and share repurchases, the company also increased its expected return of capital to shareholders for the 2019 fiscal year to approximately $500 million from its previous expectation of approximately $300 million.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

As of June 30, Hyatt’s portfolio comprised more than 872 properties with 213,037 rooms.

Suggested Articles

The country's first Radisson hotel will open in late-2021 in the city of Perm.

Ahead of next year's IHIF in Berlin, Corinthia's SVP/Hotel Development Paul Pisani shared how the company is wrangling new trends in luxury travel.

The company experienced an 0.8 percent decline in revenue per available room in constant currency and a 1.9 percent decline at actual exchange rates.