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Hyatt Partners With Exacorp One to Bring Thompson Hotels Brand to Spain
Hyatt Hotels Corporation | February 22, 2022
CHICAGO, IL - February 22, 2022 - Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into an agreement with Exacorp One S.L. for the first Thompson Hotels property in Spain: Thompson Madrid. Slated to open in Summer 2022, the 175-room luxury lifestyle hotel will mark a significant milestone for Hyatt as the brand celebrates its thoughtful growth in Europe with its debut in Spain. Perfect for both business and leisure guests, Thompson Madrid will be located in the centre of the new Golden Mile of Madrid, and steps away from the most visited icons of the city, Puerta del Sol and the eclectic Gran Vía st...
MGM Resorts to Acquire Operations of The Cosmopolitan in Las Vegas for $1.625B
MGM RESORTS INTERNATIONAL | September 27, 2021
LAS VEGAS, NV – September 27, 2021 – MGM Resorts International today announced that the Company has entered into a definitive agreement with Blackstone to acquire the operations of The Cosmopolitan of Las Vegas (the "property" or "The Cosmopolitan") for cash consideration of $1.625 billion, subject to customary working capital adjustments. The purchase price represents a multiple of approximately eight times adjusted EBITDA, inclusive of expected operational synergies and identified revenue growth opportunities. Following the close of the transaction, MGM Resorts will enter into a 30-year lease agreement, with three 10-year rene...
