Hyatt Adds 6th Orlando Hotel With $717M Peabody Purchase

Law360, New York (August 28, 2013, 2:27 PM ET) -- Hyatt Hotels Corp. will put up $717 million for the Peabody Orlando hotel to deepen its presence in the popular tourism and convention destination that is also one of the biggest hotel markets in the U.S., the company said Wednesday.

After the transaction closes, expected in early October, the 1,641-room hotel will be renamed the Hyatt Regency Orlando Convention Center. Hyatt did not give a financing breakdown for the deal, which will lift ownership from real estate developers Belz Enterprises Inc. and Estein & Associates USA...
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