SCOTTSDALE, AZ — CaliberCos Inc. (Nasdaq: CWD), the Scottsdale-based real estate investor, developer and manager, announced May 6 it has signed a deal with Hyatt Hotels Corp. to open 15 new hotels across five states.
The development rights agreement will let Caliber Hospitality Development exclusively develop Hyatt Studios hotels in target market areas within Arizona, Colorado, Nevada, Texas and Louisiana. The first Arizona hotel will be built in Scottsdale.
Hyatt (NYSE: H) unveiled its Hyatt Studios concept in 2023 and there is currently one location open in Mobile, Alabama and several others under construction around the country. Hyatt Studios is Hyatt’s first entry into upper-midscale extended-stay lodging in the U.S.
