Hilton to Acquire Graduate Hotels Brand
Photo Credit: A guest room at the Princeton, NJ, property of Graduate Hotels. Graduate Hotels
Skift Take
Hilton will acquire the Graduate Hotels brand for $210 million, which includes all rights to the Graduate brand worldwide, franchise agreements for all existing and signed pipeline Graduate Hotels, and future development and growth.
The DJIA fell 138 points while Nasdaq was down 49, the S&P 500 fell 15 points, and the 10-year treasury yield jumped .11 to 4.30%. Lodging stocks were lower although HLT hit a new high and SOND was up 14%. VCSA traded down to a new low and AINC was down -16% on the day.
The travel and tourism sector announced 93 deals globally during the first two months of 2024, a year-on-year decline of 22.5% compared to the 120 deals during the same period in 2023, according to GlobalData. An analysis of GlobalData’s Deals Database revealed the number of mergers and acquisitions and venture financing deals declined while private equity deals volume showcased improvement during the period. The number of M&A deals declined by 25.8%, whereas venture financing deals volume registered a YoY decline of 22.2%. Private equity deals volume increased from four during January-February 2023 to six during January-February 2024. Most of the regions and key markets also regist
