Hilton has announced that it will purchase Graduate Hotels from Adventurous Journeys Capital Partners (“AJ Capital”) for $210 million in an an all cash deal. AJ Capital will remain the owner of 35 Graduate hotels (currently operating and in the pipeline) but they will operate under the Hilton brand. Deal is expected to close in Q2 2024 and properties bookable via Hilton later in 2024. Currently Graduate Hotels operates 33 hotels.
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I don’t like the trend of having fewer choices. Competition is good for the customers.
Graduate Hotels should have refused the offer in order to be competitive, on principle.
No of course they sold out the day they had a profitable offer.