US: Real estate investor, developer, and manager Caliber Hospitality Development has signed an agreement with Hyatt to develop 15 Hyatt Studios hotels across five states.
Caliber expects to develop 15 hotels over the course of the next three to five years and will seek to expand the agreement if market conditions allow. The projects are expected to deliver $400 million in additional assets under management for Caliber.
Construction on the first hotel, located in Georgetown, Texas, is expected to break ground in the Q4 2025. The second hotel will be in Scottsdale, Arizona and is expected to break ground Q2 2026.
Under the terms of the agreement, Caliber will receive exclusive development rights for future development of Hyatt Studios hotels in target market areas within Arizona, Colorado, Nevada, Texas and Louisiana.
Each Hyatt Studios property will include approximately 122 apartment-style suites equipped with in room kitchens, EV charging stations, complimentary grab-and-go breakfast, a 24/7 market, self-service laundry, fitness studio, and pet friendly accommodations.
Chris Loeffler, CEO of Caliber, said: “As a hospitality investor and developer since 2013, Caliber has taken notice that hotel inventory across the United States is lower today than it was in January of 2020. This, combined with historically low new construction starts, and a recent return of demand for hotel rooms, makes the case to develop Hyatt Studios hotels in attractive, underserved markets.
“The Hyatt Studios brand offers Caliber the opportunity to capture a fundamental change in the way people work and their desire to stay in a hotel that feels like home for a longer trip,” he added.
Jim Chu, chief growth officer, Hyatt, said: “Our new Hyatt Studios brand has been steadily growing since we announced it in 2023, and today we have more than 50 executed deals that will extend the Hyatt brand into more than 20 new markets.
“We are excited to be working with Caliber on the development of at least 15 new properties, many of which are expected to be located in new markets for Hyatt. This significant development agreement will advance Hyatt’s ongoing evolution, as we aim to make our brands even more profitable for owners and more desirable for travellers.”
The first Hyatt Studios property is has launched this year in Mobile, Alabama. According to the Hyatt website, four additional extended stay hotels have also broken ground.
Highlights:
• Caliber will develop 15 Hyatt Studios hotels over three–five years, starting in Texas and Arizona, with $400 million in projected new assets.
• The company has agreed exclusive development rights for Hyatt Studios in five states: Arizona, Colorado, Nevada, Texas and Louisiana.
• Each extended stay hotel will offer approximately 122 apartment-style suites with amenities including EV charging stations, a fitness studio and more.
• Since launching in 2023, more than 50 Hyatt Studios have been signed, expanding the brand into more than 20 new markets.
