Hilton Looking to Buy Graduate Hotels
Hilton is in talks to buy the Graduate Hotels brand, which has over thirty locations in college towns across the US and UK.
The new was first reported by Bloomberg, citing sources with knowledge of the matter who requested anonymity discussing confidential information. Based on those sources, the deal has not been finalized and talks could fall apart or another buyer may emerge.
Graduate Hotels started in 2014 with locations in smaller towns such as Athens, Georgia, and Tempe, Arizona. But it has moved into larger cities more recently, with locations such as Graduate New York in Roosevelt Island.
Graduate Hotels now has 31 hotels in the Unites States and another two in Cambridge and Oxford, UK. There are also four more properties opening soon in Auburn, AL, Austin and Dallas, TX, and Princeton, NJ.
This latest move is a departure from Hilton’s growth strategy which has been generally focused on developing new brands internally.
DDG
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