Scottsdale-based Caliber Cos. entered into a Development Rights Agreement with Hyatt Hotels Corporation to develop 15 new Hyatt Studios hotels in the United States. Under the terms of the agreement, Caliber Hospitality Development will receive exclusive development rights for future development of Hyatt Studios hotels in target market areas within Arizona, Colorado, Nevada, Texas and Louisiana. Construction on the first hotel, located in Georgetown, Texas, is expected to break ground in the fourth quarter of 2025. The second hotel within the agreement will be in Scottsdale, Arizona, and is expected to break ground in the second quarter of 2026.
Each Hyatt Studios hotel will include approximately 122 apartment-style suites equipped with in-room kitchens, free high-speed fiber internet, EV charging stations, complimentary grab-and-go breakfast, a 24/7 market, self-service laundry, fitness studio, and pet-friendly accommodations.
Caliber expects to develop 15 hotels over the next three to five years as the market bears opportunities and will seek to expand the agreement if market conditions allow.
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