Seven hotels have signed letters of intent with the collection in the following cities: Syracuse, N.Y.; Chicago, Ill.; Nashville, Tenn.; Warren, N.J.; Hampton, Va., and two in Indianapolis, Ind.
The acquisition includes an initial investment of $215 million for the Miraval brand and the resorts in Tucson and Austin. Hyatt expects to invest an additional $160 million over the next two to three years to fund the expansion of the Tucson resort, the redevelopment of the Austin resort and the acquisition and redevelopment of the Lenox resort.
The opening of Crowne Plaza Kota Kinabalu Waterfront in 2021 will mark the entry of the brand into East Malaysia. The hotel will be part of a mixed-use development at a prime waterfront location in downtown Kota Kinabalu, sitting amindst high-end residences and a number of dining establishments which offer stunning views of the city's waterfront.
Virgin Hotels, the hotel brand by Virgin Group founder Sir Richard Branson, has announced plans to open and operate a new hotel in the Warehouse District of New Orleans.