Caliber, Hyatt Partner to Develop 15 Hotels Across Five States

Caliber has entered into an exclusive Development Rights Agreement with an affiliate of Hyatt Hotels Corporation to develop 15 new Hyatt Studios hotels across Arizona, Colorado, Nevada, Texas, and Louisiana. This marks one of the largest multi-property commitments for Hyatt Studios, Hyatt’s upper-midscale extended-stay brand introduced in 2023, which features apartment-style suites with kitchens, high-speed internet, EV charging, and pet-friendly accommodations. Construction will begin in Georgetown, Texas, in late 2025, with the second hotel set for Scottsdale, Arizona, in 2026, and all properties are expected to be completed within three to five years. The partnership grants Caliber exclusive rights to develop the hotels in these regions and is projected to add $400 million to Caliber’s assets under management. Both companies emphasized the strategic timing given low hotel inventory and rising demand for extended-stay accommodations in underserved markets. Executives from Caliber and Hyatt expressed enthusiasm about expanding the Hyatt Studios brand and meeting evolving travel preferences.