A contract dispute may cause 22 Hyatt Place properties in the US to leave the Hyatt portfolio. Let’s take a look at why, and which properties could be impacted. This follows a similar recent situation with 103 IHG properties and 122 Marriott properties.
Hyatt doesn’t actually own most of its hotels, but rather the individual properties are largely owned by investment companies, and Hyatt has a management or franchise contract. Service Properties Trust (SVC) has historically owned a variety of hotels across major hotel groups.
SVC has announced that it has received a notice of termination from Hyatt with respect to management of 22 Hyatt Place hotels. According to SVC:
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