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Lone Star buys 38 hotels for $590m

by Andrea Waitrovich

Hyatt Hotels Corp. has sold 38 hotels to an affiliate of Lone Star Funds for $590 million. The portfolio consists of 38 Hyatt Place and Hyatt House hotels, totaling 4,950 rooms. The hotels will maintain the Hyatt Place and Hyatt House branding.

The hotels are located in Alabama, California, Connecticut, Colorado, Florida, Georgia, Idaho, Kentucky, Massachusetts, Michigan, New England, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Tennessee and Virginia.

The largest hotel is the 162-room Hyatt House Sterling/Dulles in Sterling, Va. And the second largest hotel was the Hyatt Place Secaucus/Meadowlands in Secaucus, N.J.

In March, Hyatt sold a 1,560-room portfolio to RLJ Lodging Trust

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