Three Hyatt Hotels Garner $51M from AREA JV

NAPERVILLE, IL-AREA Property Partners has partnered with Carrollton, TX-based Aimbridge Hospitality to acquire three Hyatt Hotels in suburban Chicago. The joint venture partnership paid $51 million to buy the hotel portfolio, which consists of: Hyatt Lisle, close to downtown Naperville; Hyatt Deerfield, in Chicago’s North Shore area; and Hyatt Rosemont, near O’Hare Airport.   

The venture bought the hotels directly from Hyatt Hotels Corp., which has owned and operated the assets since they opened, according to John Jacobsson, a partner with New York City-based AREA Property Partners.