ANNAPOLIS, Md.–(BUSINESS WIRE)–Jun. 27, 2013–
Chesapeake Lodging Trust (NYSE: CHSP) (the ?Trust?) and Hyatt Hotels
Corporation (NYSE: H) (?Hyatt?) announced today that the Trust has
acquired the fee simple interest in the Hyatt
Santa Barbara and two adjoining properties totaling 200 rooms from a
Hyatt affiliate for $61.0 million, or approximately $305,000 per key.
The Trust entered into a management agreement with HEI Hotels and
Resorts to operate the hotel under a franchise agreement with a Hyatt
affiliate.
?We are very excited to acquire the recently renovated Hyatt Santa
Barbara while we continue to grow our …