Caliber Expands Hyatt Studios Portfolio Across Three High-Growth Markets

Event summary

  • Caliber is advancing three Hyatt Studios projects in Steamboat Springs, CO; Riverwalk/Scottsdale, AZ; and Georgetown, TX, with the first expected to break ground in Q2 2026.
  • The projects are designed to capitalize on supply-constrained markets with growing demand for extended-stay hospitality.
  • Caliber aims for levered IRRs in the low-to-mid-20% range and equity multiples of 2.3x–2.6x over a 6-year hold.
  • Stabilized assets will transition into Caliber Hospitality Trust (CHT) through a forward purchase structure.

The big picture

Caliber's expansion of the Hyatt Studios platform aligns with broader trends in the hospitality sector, where extended-stay options are gaining traction due to their efficiency and scalability. The company's strategy of building, stabilizing, and transitioning assets into long-term ownership through CHT provides a structured approach to managing risk and enhancing returns. With over $2.6 billion in managed assets, Caliber is leveraging its institutional-quality platform to capitalize on high-growth markets and structural demand drivers.

What we're watching

Market Dynamics
How supply constraints in Steamboat Springs, Riverwalk/Scottsdale, and Georgetown will affect the projects' pricing power and margins.
Execution Risk
Whether Caliber can maintain its targeted timelines and financial returns across all three developments.
Strategic Alignment
The pace at which Caliber transitions stabilized assets into Caliber Hospitality Trust and recycles capital.

Related topics

Expansion