Hyatt Announces Sale and Franchising of Three Chicago Area Hotels to Area Property Partners and Aimbridge Hospitality

CHICAGO--(BUSINESS WIRE)--Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate sold three Chicago area hotel properties to a joint venture of AREA Property Partners and Aimbridge Hospitality and entered into long-term hotel franchise agreements with the buyers for each of the three hotels, Hyatt Lisle, Hyatt Deerfield, and Hyatt Rosemont. The combined sale price of the three properties was $51 million, and the AREA/Aimbridge joint venture plans to invest $13.5 million in capital improvements at the three properties.

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