Hyatt is set to expand its extended-stay footprint through a new agreement with Caliber to develop 15 Hyatt Studios hotels in key U.S. markets.
Caliber Hospitality Development, a subsidiary of Scottsdale-based Caliber, signed a development rights agreement with an affiliate of Hyatt Hotels Corp. The deal grants Caliber exclusive rights to build Hyatt Studios hotels in Arizona, Colorado, Nevada, Texas and Louisiana.
Construction on the first property is expected to begin in late 2025 in Georgetown, Texas. A second hotel in Scottsdale, Ariz. is scheduled to break ground in the second quarter of 2026.
Hyatt Studios, introduced in 2023, is Hyatt’s upper-midscale extended-stay brand. Each property will feature 122 apartment-style suites with kitchens, high-speed fiber internet, EV charging stations, complimentary grab-and-go breakfast, a market, laundry, fitness studio and pet-friendly accommodations.
“Our new Hyatt Studios brand has been steadily growing since we announced it in 2023, and today we have more than 50 executed deals that will extend the Hyatt brand into more than 20 new markets,” said Jim Chu, chief growth officer, Hyatt. This significant development agreement will advance Hyatt’s ongoing evolution, as we aim to make our brands even more profitable for owners and more desirable for travelers.”
“We are very excited about our new relationship with Hyatt, a world-class brand that shares our steadfast commitment to superior service for our guests,” said Chris Loeffler, CEO of Caliber. “As a hospitality investor and developer since 2013, Caliber has taken notice that hotel inventory across the United States is lower today than it was in January of 2020. This, combined with historically low new construction starts and a recent return of demand for hotel rooms, makes the case to develop Hyatt Studios hotels in attractive, underserved markets. The Hyatt Studios brand offers Caliber the opportunity to capture a fundamental change in the way people work and their desire to stay in a hotel that feels like home for a longer trip.”
Caliber plans to develop the 15 hotels over three to five years and may expand the agreement depending on market conditions. The company estimates the projects could add $400 million in assets under management and deliver strong returns across its platform.
