To whom did Caption By Hyatt sell Park Hyatt Zurich?
Caption_By_Hyatt Franchise · 2025 FDDAnswer from 2025 FDD Document
lion pre-tax gain, which was recognized in gains (losses) on sales of real estate and other on our consolidated statements of income during the year ended December 31, 2024. The operating results and financial position of this hotel prior to the sale remain within our owned and leased segment.
Park Hyatt Zurich—During the year ended December 31, 2024, we sold Park Hyatt Zurich to an unrelated third party and accounted for the transaction as an asset disposition. We received proceeds of CHF 220 million (approximately $244 million), net of closing costs and proration adjustments, and issued a CHF 41 million (approximately $45 million) secured financing receivable with an initial maturity date of five years (see Note 6). Upon sale, we entered into a long-term management agreement for the property. The sale resulted in a $257 million pre-tax gain, including the reclassification of $6 million of currency translation gains from accumulated other comprehensive
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to the 2025 Franchise Disclosure Document, Caption By Hyatt sold the Park Hyatt Zurich during the year ended December 31, 2024. The buyer was an unrelated third party. Caption By Hyatt received proceeds of CHF 220 million (approximately $244 million), net of closing costs and proration adjustments, and issued a CHF 41 million (approximately $45 million) secured financing receivable with an initial maturity date of five years.
Following the sale, Caption By Hyatt entered into a long-term management agreement for the property. The sale resulted in a $257 million pre-tax gain, including the reclassification of $6 million of currency translation gains from accumulated other comprehensive loss. This gain was recognized in gains (losses) on sales of real estate and other on Caption By Hyatt's consolidated statements of income during the year ended December 31, 2024.
The operating results and financial position of the Park Hyatt Zurich prior to the sale remain within Caption By Hyatt's owned and leased segment. This indicates that while the ownership changed, Caption By Hyatt continues to manage the property under a long-term agreement, allowing them to still benefit from the hotel's operations.