Chesapeake Lodging Trust Buys Hyatt Place New York Midtown South for $76.2M

Chesapeake Lodging Trust CHSP (the "Trust") announced today that it has closed on the previously announced acquisition of the newly developed, 185-room Hyatt Place New York Midtown South located in New York, New York for a purchase price of $76.2 million, or approximately $412,000 per key. The Trust entered into an agreement with Real Hospitality Group, the operator of the Trust's other hotel in New York located in Midtown on 31^st Street, to manage the hotel.