Cambridge Landmark, a hotel-focused private equity company, recently announced that it has closed on the acquisition of the Hyatt Regency Milwaukee, a 481-room full service hotel located in downtown Milwaukee with a prime location adjacent to the Wisconsin Center convention facility.
With the closing of this transaction a new franchise agreement has been signed with Hyatt Corporation for the property to continue to operate using the Hyatt Regency brand. The hotel will undergo a multi-million- dollar renovation focused on upgrading the room product, enhancing the lobby and meeting space, and adding other new and exciting amenities.
"This acquisition furthers Cambridge Landmark's strategy of ownership-driven hotel investment with assets in medium-to-large U.S. domestic markets," said Pedro Miranda, managing partner. "With a great property in a premier location, and forthcoming renovations and refurbishments, we anticipate this property will drive long-term value to the expanding Cambridge Landmark portfolio."
Located in the downtown district, the Hyatt Regency Milwaukee is one of the largest hotels in downtown Milwaukee. Ideal for business or pleasure, the Hyatt Regency Milwaukee has a prime location just blocks from the Shops of Grand Avenue, and the site of the new multi-purpose arena that will be home to the NBA's Milwaukee Bucks. The hotel is also connected via skywalk to the Wisconsin Center, a leading convention and meeting facility. The Hyatt Regency Milwaukee offers 481 rooms and suites, two on-site dining options, business center, StayFit™ Fitness Center, and 33,000 square feet of stylish meetings and event space.
The terms of the transaction were not disclosed.
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