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Hyatt Announces Closing of 38 Select Service Hotel Portfolio

Hyatt Hotels Corporation (NYSE: H) today announced that its affiliates have closed on the previously announced sale of 38 hotels to a company organized by Lone Star Funds (the "Purchaser"). The portfolio of 38 hotels (the "Hyatt Portfolio") consists of Hyatt Place and HYATT house hotels totaling 4,950 rooms.

As part of the sale, Hyatt has entered into franchise agreements with the Purchaser, with all hotels retaining their existing Hyatt Place and HYATT house branding. The total proceeds from the sale of the Hyatt Portfolio, which is comprised of the hotels listed below, were approximately $590 million. The Purchaser intends to spend approximately $50 million in additional capital expenditures across the Hyatt Portfolio over the next 24 months.