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Hilton announced an agreement with Adventurous Journeys Capital Partners (AJ Capital) to acquire the Grader Hotels brand.
Grader Hotels will join Hilton’s growing lifestyle portfolio alongside Canopy by Hilton, Curio Collection by Hilton, Tapestry Collection by Hilton, Tempo by Hilton and Motto by Hilton – all of which have been launched over the past decade. To meet the growing demand for localized travel experience.
Hilton will spend $210 million to acquire all global rights to the brand, sign franchise agreements for all existing and signed hotels in the pipeline, and be responsible for its future development and growth. AJ Capital will continue to have more than 35 operating and pipeline graduate properties, each of which will operate under long-term Hilton franchise agreements.
“Adding Graduation Hotels to our portfolio of award-winning brands combines an existing, beloved brand with Hilton’s powerful business engine to drive growth,” said Chris Nassetta, Hilton President and Chief Executive Officer. , thereby accelerating our expansion in the lifestyle field.” We believe that the target market for the Graduate brand is 400-500 hotels worldwide. “
Since its founding in 2014, the Graduate Hotels brand has expanded into the United States and the United Kingdom, with locations in Ann Arbor, Michigan; Knoxville, Tennessee; Palo Alto, California; State College, Pennsylvania; and Oxford and Cambridge, United Kingdom . Upcoming properties include Austin, Texas; Auburn, Alabama; and Princeton, New Jersey.
“We are honored to begin this next chapter of Graduate Hotels with Hilton, an ideal partner to guide the brand’s continued growth,” said Ben Weprin, CEO of AJ Capital. “Hilton and Graduate Hotels are both committed to delivering exceptional experiences and making a positive impact in the community. Our shared values and close collaboration will ensure a smooth transition while keeping Graduate Hotels’ unique brand identity intact.”
The transaction is expected to close in the second quarter of this year.
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