| viewguysf |
Jan 22, 2021 7:06 PM |
Quote:
Originally Posted by Pedestrian
(Post 9167345)
As I understand it, the hotel is not changing hands but simply being rebranded. This happens a lot. These days the hotel management brands like Hyatt or Sheraton or whatever frequently don't own the properties. They are commonly owned by REITs or some other real estate investment company and managed under contract by the well-known brands. Also, those brands have their standards (room size, in-house facilities, services, furniture and other quality etc) and when a hotel changes brands it often has to undergo a rehab to meet the standards of the new brand. That's what's happening here.
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It seems that the hotel will be following a third way, as a Hyatt franchise, not managed by Hyatt. I saw no indication that the current management would change.
Hyatt Hotels came late to franchising (unlike Hilton and many others), preferring to actively manage any hotel with the Hyatt name, either owned or under management contract. I was sorry to see that change, but money talks (just like it did with Westin). |
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