An Arizona company has signed an agreement with Hyatt to build 15 of its newest branded hotel option, Hyatt Studios. Caliber Cos. will soon start work on the first hotel, located in Georgetown.

Announced in 2023, Hyatt Studios is Hyatt’s first upper-midscale extended-stay brand. 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. These developments will deliver $400 million in additional assets under management (AUM) to the Platform, delivering an attractive operating margin and significant growth in annual and one-time Platform revenue.