Hyatt Plans to Buy AmeriSuites Chain
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From Associated Press
Hyatt Corp. disclosed plans to buy the 143-hotel AmeriSuites chain in an acquisition analysts said made the luxury hotel company more of a well-rounded rival to much bigger Marriott International Inc. and Hilton Hotels Corp.
The sale amount was not announced by either Hyatt, owned by the Pritzker family, or Blackstone Group Inc., seller of New Jersey-based AmeriSuites. But a source familiar with the deal, speaking on condition of anonymity, put it at more than $600 million.
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