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New Upscale Extended-Stay Brand Hitting the Market

LOS ANGELES-The move is similar to what Hyatt did last year when it acquired the AmeriSuites system and decided to rechristen the select-service chain as Hyatt Place.

By Maria Wood | Updated on January 24, 2006

Maria Wood is senior editor of Real Estate Forum .

LOS ANGELES-With its purchase of the Summerfield Suites franchise system now complete, Global Hyatt Corp. has renamed the upscale extended-stay brand Hyatt Summerfield Suites. The new brand was introduced Monday at the Americas Lodging Investment Summit, held at the Hyatt Regency Century Plaza here.

The move is similar to what Hyatt did last year when it acquired the AmeriSuites system and decided to rechristen the select-service chain as Hyatt Place. According to Jim Abrahamson, Hyatt’s senior vice president of acquisition and development, the Chicago-based hotel company has budgeted $200 million for post-acquisition renovations of the AmeriSuites and Summerfield properties. “This is a major strategic investment for Hyatt,” he said.

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