Affiliates of Hyatt Hotels Corporation (“Hyatt”) (NYSE:H), a leading
global hospitality company, have completed the previously announced sale
of Hyatt Resident Group (“HRG”) to Interval Leisure Group (“ILG”)
(NASDAQ:IILG), a leading global provider of non-traditional lodging
across a broad spectrum of the vacation industry.
The HRG portfolio includes three shared ownership projects in Key West,
Florida – Hyatt Sunset Harbor, Hyatt Beach House and Hyatt Windward
Pointe. As part of this transaction, Robert Spottswood, the developer of
and longtime partner in the Key West projects, sold his partnership
interests to HRG.
“Robert played an important role in the formation of Hyatt Residential
Group and was a key part of the initial leadership team,” said Steve
Haggerty, global head of capital strategy, franchising and select
service for Hyatt. “We are delighted that Robert will continue to be
involved with hotel development projects, including Hyatt Place
Marathon/Florida Keys that is scheduled to open early next year. We
thank Robert for his numerous contributions to Hyatt Residential Group
and look forward to working with him in the future.”
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global
hospitality company with a proud heritage of making guests feel more
than welcome. Thousands of members of the Hyatt family strive to make a
difference in the lives of the guests they encounter every day by
providing authentic hospitality. The Company's subsidiaries manage,
franchise, license, own and develop hotels, resorts, branded residences
and vacation ownership properties under the Hyatt®, Park Hyatt®,
Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt
House®, Hyatt Zilara™,
Hyatt Ziva™, Hyatt Residences® and Hyatt
Residence Club® brand names and have
locations on six continents. As of June 30, 2014, the Company's
worldwide portfolio consisted of 563 properties in 48 countries. For
more information, please visit www.hyatt.com.
Copyright Business Wire 2014