Multinational hospitality company Hilton Hotels & Resorts is acquiring Graduate Iowa City as part of a $210 million deal that includes the entire Graduate chain, expanding the hotel’s global brand portfolio. Hilton entered an agreement with Adventurous Journeys Capital Partners on March 14, acquiring the rights to the Graduate brand by entering into franchise agreements […]
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Multinational hospitality company Hilton Hotels & Resorts is acquiring Graduate Iowa City as part of a $210 million deal that includes the entire Graduate chain, expanding the hotel’s global brand portfolio.
Hilton entered an agreement with Adventurous Journeys Capital Partners on March 14, acquiring the rights to the Graduate brand by entering into franchise agreements for all current and upcoming Graduate Hotels, assuming responsibility for the brand's ongoing development and expansion.
“AJ Capital will remain the owner of the more than 35 operating and pipeline Graduate properties, each of which will be operated under long-term Hilton franchise agreements,” a news release said.
Graduate Iowa City, at 210 S. Dubuque St., is located in the downtown Ped Mall, a convenient 20-minute walk from Kinnick Stadium and near University of Iowa's campus.
“We love Graduate and the amazing experience the brand has created for its fans over the last decade – that’s why we are thrilled with the opportunity to add this fan-favorite brand to Hilton’s portfolio,” a Hilton spokesperson said, in an email to the CBJ. “We are committed to maintaining what has made Graduate special and making it available to even more guests who can discover its magic and become life-long fans. The current owner of Graduate Hotels, Adventurous Journeys Capital, will remain the owner of the Graduate Iowa City and it will be operated by the same team.”