Certares, Clearview Buy Hyatt Regency Savannah

Certares and Clearview Hotel Capital have joined forces to acquire the prominent Hyatt Regency Savannah, a significant move underscoring the enduring appeal of prime hospitality assets in historically rich, high-demand U.S. destinations. This strategic acquisition targets a property renowned for its exceptional riverfront positioning along Savannah's iconic River Street, a location that has cemented its status as a premier lodging option within the city.

The 351-room hotel, originally established in 1981, boasts extensive amenities including 31 suites, over 40,000 square feet dedicated to meetings and events, multiple dining venues, and a substantial parking facility. Its direct adjacency to Savannah's Historic District, a magnet for leisure travelers, further amplifies its strategic value. This acquisition aligns with Certares' ongoing strategy to invest in top-tier hospitality properties situated in markets exhibiting robust long-term demand drivers.

Savannah's hospitality sector has demonstrated remarkable growth, fueled by a resurgence in leisure travel and an increase in group business, particularly following the expansion of the Savannah Convention Center. The city's economic vitality, bolstered by the Port of Savannah and broader regional development initiatives, creates a fertile ground for sustained hospitality performance. This dynamic environment makes the Hyatt Regency Savannah an attractive addition to the investors' portfolios.

Nolan Hecht, Senior Managing Director at Certares, highlighted the property's alignment with their investment thesis. "We actively seek markets with diversified demand streams, encompassing both leisure and corporate segments. Savannah perfectly embodies this, having significantly enhanced its business infrastructure while simultaneously reinforcing its appeal as a unique leisure destination," Hecht stated. He further emphasized the synergy with Clearview, noting their extensive local market expertise as crucial for unlocking the hotel's full potential.

The new ownership plans to implement targeted capital improvements focused on guestrooms and guest-facing areas. These enhancements aim to elevate the property's competitive edge and guest experience, ensuring it continues to serve as a leading destination for a wide array of travelers. Jon Kline, Founder and CEO of Clearview Hotel Capital, expressed enthusiasm for the partnership and the property's prospects. "We have long recognized the Hyatt Regency's prime location and market strength in Savannah," Kline commented. "Together with Certares, we are eager to enhance this landmark hotel and solidify its position as a premier hospitality asset in the Southeast." This transaction represents Certares' 17th hotel acquisition since launching its real estate division in 2021, expanding its national portfolio to over 4,000 keys across prime travel destinations.