Global Hyatt Corp. further ramped up its presence in the extended stay and all-suites category last week when the company confirmed it had entered into a definitive agreement to acquire the 21-hotel Summerfield Suites brand and franchise system for an undisclosed price. The deal, which is expected to close early next year, follows Hyatt's acquisition of AmeriSuites and subsequent development of the Hyatt Place brand
(BTN, Oct. 17).Although initial speculation suggested Hyatt would roll the upper upscale extended stay brand into the newly created Hyatt Place—which comprises 146 AmeriSuites property conversions by the end of the next year as well as new builds—Hyatt in a statement said it would use Summerfield Suites as a template for a new brand in the extended stay category. "Global Hyatt will develop an extended stay prototype concept for new-build hotels and new brand standards criteria for converting existing Summerfield Suites hotels to a new Hyatt-branded extended stay product," the company said in a statement.
Although the company is converting the Summerfield Suites into a new, as-of-yet-named brand, Hyatt is taking a page from the AmeriSuites book, claiming the Summerfield Suites concept "will feature a similar emphasis on exciting new interior and exterior design, forward-thinking technology and unique applications of sensory branding into its hotels."
The company said further details on the plans for Summerfield Suites would be determined early next year.
Hyatt purchased the brand from affiliates of The Blackstone Group, the Gencom Group and Lehman Brothers, representing Summerfield Suites' second ownership change in recent months. The Blackstone Group in June signed an agreement to acquire Wyndham International Inc., which at the time owned the brand.