Reginal Thomas
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Hyatt Hotels Selling 38 Hotels for $590 million

Hyatt Hotels Corp. announced it will sell 38 of its hotels as franchises to a company backed by Lone Star Funds for $590 million. The hotels account for 4,950 rooms under the Hyatt Place and Hyatt House names and will mostly be in markets such as India, China, and the Middle East. The deal is expected to close in November.