Hyatt House Charlotte Hotel to be Sold


A company chaired by former Charlotte Bobcats majority owner Bob Johnson has agreed to buy the Hyatt House Charlotte hotel next door to Time Warner Cable Arena.

RLJ Lodging Trust, a real estate investment trust founded by Johnson in 2000, has agreed to purchase 10 hotels with 1,560 rooms from affiliates of Hyatt Hotels Corp., including the 163-room Hyatt House Charlotte, located at the intersection of East Trade and North Caldwell streets.

The publicly traded REIT, where Johnson serves as chairman of the board of trustees, expects to close on the 10 hotels for approximately $313 million next month. Most of the hotels are in California. A Hyatt affiliate will continue to manage the hotels, and RLJ says it intends to invest an additional $25 million in the properties over the next 24 months.


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