Construction on the first hotel, located in Georgetown, Texas, a city within the Austin metropolitan district, is expected to break ground in the fourth quarter of 2025. The second hotel within the agreement will be in Scottsdale, Arizona and is expected to break ground second quarter of 2026.
Announced in 2023, Hyatt Studios is Hyatt’s first upper-midscale extended-stay brand, concepted in direct collaboration with owners and informed by guest feedback, featuring an efficient build cost, lean operating model, and design flexibility—all supported by Hyatt’s powerful commercial engine. Each Hyatt Studios hotel will include approximately 122 apartment-style suites equipped with in room kitchens, free high-speed fiber internet, EV charging stations, complimentary grab-and-go breakfast, a 24/7 market, self-service 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. “We are excited to be working with Caliber on the development of at least 15 new properties, many of which are expected to be located in new markets for 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,” continued Mr. Loeffler.
Caliber expects to develop 15 hotels over the course of the next three to five years, as the market bears opportunities, and will seek to expand the agreement if market conditions allow. Caliber expects these developments to deliver $400 million in additional assets under management (AUM) to the Platform, delivering an attractive operating margin and significant growth in annual and one-time Platform revenue.
