HYATT SELLS THE HYATT REGENCY BIRMINGHAM
An affiliate of Hyatt Hotels Corporation has sold the 319-room Hyatt Regency Birmingham in the UK to an affiliate of UAE-based Bin Otaiba Investment Group for approximately £38.6 million (£121,000 per room). The 24-storey hotel, in Birmingham city centre, will continue to operate as a Hyatt Regency property. The hotel is directly connected to the International Convention Centre via a walkway and is also close to many of the city’s other landmarks, such as the Mailbox and Bullring shopping centres and the Symphony Hall. The hotel will benefit from a £2.7 million investment by its new owner to carry out improvements over the next three years.