Caliber Commences Construction on Hyatt Studios in Steamboat Springs
Event summary
- Caliber has broken ground on an 114-room Hyatt Studios extended-stay hotel in Steamboat Springs, CO.
- The four-story, 57,971-square-foot property is expected to open in the second half of 2027.
- This is the first of three Hyatt Studios projects under construction for Caliber.
- Caliber has a Master Development Agreement with Hyatt for exclusive development areas.
The big picture
Caliber is expanding its hospitality portfolio with a focus on extended-stay hotels in high-demand, underserved markets. The company's Master Development Agreement with Hyatt underscores its strategic shift towards branded, efficient operating models in the hospitality sector. With over $2.6 billion in managed assets, Caliber is positioning itself as a key player in the real estate-focused alternative asset management space.
What we're watching
- Market Demand
- How Steamboat Springs' year-round tourism and limited extended-stay inventory will support the new Hyatt Studios property.
- Execution Risk
- The pace at which Caliber can complete its three ongoing Hyatt Studios projects, given the second half of 2027 target for this location.
- Strategic Expansion
- Whether Caliber's focus on secondary and tertiary markets will continue to drive its hospitality development strategy.