Arnold & Porter advised Host Hotels & Resorts, the largest lodging real estate investment trust, on its recent $1 billion acquisition of three hotels from Hyatt Hotels Corporation (Hyatt), which closed on March 29, 2018.
The sale includes the 301-room beachfront Andaz resort in Wailea, Maui; the 668-room Grand Hyatt hotel near Union Square in San Francisco, California; and a 454-room Hyatt Regency Coconut Point Resort and Spa in Bonita Springs, Florida. The hotels will continue to be managed by Hyatt pursuant to long-term management agreements.
The Arnold & Porter transaction team included Real Estate practice co-head Michael Goodwin, counsel Kathryn Olson, and associate Kathryn Loomis.