Chesapeake Lodging Trust Acquires Hyatt Fisherman's Wharf for $103.5M

Chesapeake Lodging Trust CHSP (the "Trust") announced today that it has purchased the fee simple interest in the 313-room Hyatt Fisherman's Wharf from an affiliate of Hyatt Hotels Corporation H for $103.5 million, or approximately $331,000 per key. The Trust entered into an agreement with Evolution Hospitality to manage the hotel under a franchise agreement with a Hyatt affiliate. “We are very excited to acquire our third San Francisco hotel while we grow our relationship with Hyatt,” stated James L. Francis, President and Chief Executive Officer of the Trust. “Hyatt Fisherman's Wharf is an outstanding property with a terrific location that complements our hotels in the Financial District and Union Square.” See full press release