Hyatt to buy Peabody Orlando hotel for $717M

Hyatt Hotels (H) says it plans to buy the Peabody Orlando hotel for $717M, a deal that gives Hyatt its first large convention-center presence in the nation's second-largest hotel market.

Hyatt expects the hotel to generate ~$10M in EBITDA in Q4 and ~$55M in 2014; after Peabody’s recent $440M expansion and renovation, Hyatt says it does not need to invest significant capital in the near future.

Hyatt’s global head of real estate and capital strategy says Orlando "continues to benefit from strong demand from a variety of different types of guests."

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs