Caliber (NASDAQ: CWD), a real estate investor, developer, and manager, announced that it has entered into a development rights agreement with an affiliate of Hyatt Hotels Corporation (NYSE: H) to develop 15 new Hyatt Studios hotels in the United States. Under the terms of the agreement, Caliber Hospitality Development will receive the rights for future development of Hyatt Studios hotels in target market areas within Arizona, Colorado, Nevada, Texas and Louisiana. 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 Georgetown asset offering sponsored by Caliber Hospitality Development, HS Georgetown FundCo, LLC, will be distributed through the retail channel and seeks to raise $9 million from accredited investors.
Caliber Hospitality Development is partnering with Platinum Holdings to purchase more than two acres for this 122-room hotel asset. The new nearly 60,000-square-foot hotel will be four stories and feature an outdoor patio, cafe area, lounge area, and fitness center. The hotel is located just 25 miles north of Austin and will be the only Hyatt-branded property within a 20-mile radius.
According to the companies, the key differentiators for the Hyatt Studios product is an efficient design, lean operating model, flexible brand and design elements, and strategic commercial support for owners.
Announced in 2023, Hyatt Studios is Hyatt’s first upper-midscale extended-stay brand. Each suite will be equipped with in-room kitchens, free high-speed fiber internet. The hotels will have EV charging stations, complimentary grab-and-go breakfast, a 24/7 market, self-service laundry, and pet friendly accommodations.
“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, chief executive officer 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 second hotel within the agreement will be in Scottsdale, Ariz., and is expected to break ground second quarter of 2026.
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.
In March 2025, Caliber announced the launch and first transaction of the Caliber 1031 Exchange, a program offering accredited investors direct access to curated real estate investment opportunities. The company significantly expanded its internal sales team in summer 2023.
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