Host Pays $1 Billion for Hotels in Growth Markets

Host Hotels & Resorts is betting big on future meeting demand by acquiring three Hyatt-managed, signature meeting hotels for almost $1 billion. The growing hospitality company called the coastal markets of Hawaii, San Francisco and Florida highly desirable locales for business growth.

All three properties occupy unique niches in the event landscape. Andaz Maui at Wailea Resort offers oceanside meetings with 70,000 sq. ft. of indoor and outdoor meeting space, including an oceanfront lawn and 301 luxury guest rooms. Grand Hyatt San Francisco offers 662 modern guest rooms with enhanced in-room entertainment technology and six event rooms—30,000 sq. ft. of total meeting space; it boasts panoramic bay views and is in walking distance of Moscone Center. Hyatt Regency Coconut Point Resort and Spa in Bonita Springs, Florida, features 454 guest rooms on 26 acres overlooking the Gulf of Mexico. The property’s 82,500 sq. ft. of meeting space was recently renovated and includes an outdoor courtyard.

Hosts Hotels CEO James Risoleo called the properties “exactly the type of iconic real-estate we target…located in what we believe are some of the best near-term growth markets in the U.S.”

Hyatt will continue to operate the hotels. Host owns 93 luxury and upper-upscale hotels. Ten are Hyatt-managed properties.

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