Host Hotels & Resorts buys Bonita Springs Hyatt in three-hotel, billion-dollar deal

Naples

Hyatt Regency Coconut Point Resort & Spa. The hotel industry notes that Host Hotels & Resorts Inc. recent purchased this Hyatt property as part of a $1 billion deal that also includes two major Hyatt resorts in Hawaii and San Francisco. Hyatt Hotels will continue to manage all three resorts. Also, "bleisure travel," a phenomenon in which business travelers tack on a few days to enjoy a destination after their business dealings are through.

A landmark Lee County resort hotel has a new owner.

Host Hotels & Resorts on March 29 completed the purchase of the Hyatt Regency Coconut Point Resort & Spa in Bonita Springs, reportedly for $220 million.

The Bethesda, Maryland-based company bought the 454-room resort from Hyatt Hotels Corp. as part of a $1 billion deal that also included the Andaz Maui at Wailea Resort, on the Hawaiian island of Maui, and the Grand Hyatt San Francisco.

Hyatt will continue to manage all three hotels as part of a long-term agreement.

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Host Hotels & Resorts is an S&P 500 and Fortune 500 company, the world’s largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels.

“We were thrilled to close on the previously announced acquisition of the iconic three-hotel Hyatt portfolio," said James F. Risoleo in a statement on his company's website.

The acquired hotels, Risoleo said, “are in markets with expected high growth.”

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