UK Hyatt Regency Commands $50M
- Sep 26, 2016
Birmingham, England—Hyatt Hotels Corp. recently announced the sale of the 24-story, 319-key Hyatt Regency Birmingham for approximately $50 million. The buyer, an affiliate of the UAE-based Bin Otaiba Investment Group, will invest in multimillion-dollar renovations over the next three years. The property will continue to operate under the same brand.
Completed in 1990, the four-star Hyatt Regency Birmingham is located at 2 Bridge St., in the heart of United Kingdom’s second largest city. The hotel is connected to the International Convention Center and is situated within one mile of most Birmingham points of interest, including the Barclaycard Arena, the O2 Academy, New Street Station, Bullring Shopping Centre, the upscale Mailbox retail destination, University College and the Birmingham Cathedral. Birmingham Airport, which offers direct flights to and from New York, Dubai, Frankfurt and Rome—among other destinations—is located within a 25-minute ride.
On-site amenities include a spa and wellness center, indoor swimming pool, pub & terrace, signature restaurant, as well as 10 meeting and events rooms.
“This transaction allows us to retain brand presence in the market and expand our relationship with an owner who is investing in the Hyatt Regency brand,” said Steve Haggerty, Hyatt’s global head of capital strategy, franchising and select service, in a prepared statement.
Image courtesy of Hyatt Hotels Corp.