Hilton has agreed to acquire Graduate Hotels from Adventurous Journeys Capital Partners.
The acquisition price is $210 million, with the purchase expected to be completed in the second quarter. According to Hilton’s research, one-fourth of the world’s travelers plan vacations aimed at concerts, sports events, or local experiences, many of which are in markets based around universities.
Founded in 2014, Graduate Hotels is a lifestyle brand with locations near universities in the United States and the United Kingdom. It is anticipated that the brand could expand to 400-500 properties worldwide. The brand also plans to join the Hilton Honors program.
After the acquisition, Adventurous Journeys Capital Partners will remain the owner of 35 hotels, which will be operated based on a long-term franchise agreement with Hilton.
