Skift Take
The hotel behemoth Hilton is acquiring the hip, localized Graduate Hotels brand for a cool $210 million. The boutique chain has rapidly expanded to 33 properties clustered around universities in the U.S. and U.K.
Hilton will spend $210 million to acquire Graduate Hotels, a hotel brand that builds and runs 33 hotels near U.S. and U.K. universities, it said Thursday. The brand caters to college alumni, students, and communities with hip, nostalgic-themed design and campus-centric amenities.
"We believe the addressable market for the Graduate brand is 400-500 hotels globally," said Hilton CEO Chris Nassetta in a statement.
Hilton announced the brand would become available on its booking site and app "later this year.