K.C. Marriott and its parent company, Big Sur, are selling their Kansas City hotels, the Grand, Marriott, and Hyatt, for $3.2 billion.
The Grand is being sold to an international group led by German luxury hotel chain, Hilton Worldwide.
The Hyatt is being bought by Chinese-American operator China Pacific Group.
The Marriott is being acquired by China National Hotel & Resort Corporation, or CPCL.
In total, these three properties hold about 9,600 rooms.
The Grand was built in 1878 by the hotel chain and is a former hotel.
It has a spa and is home to the Kansas City Museum.
It’s currently being sold by the company for $1.9 billion to a group of Chinese investors.
It was built with private money.
The property has two bedrooms, two baths, and an outdoor deck.
The $3 billion price tag doesn’t include $300 million for renovation and other improvements.
The sale is expected to close in late 2019.
The Hyatt’s history has been one of expansion.
The hotel chain’s hotel units grew to include about 800 rooms in 2015.
But it’s been struggling to make inroads in the Midwest.
The company was founded in the late 1970s and started with just 20 employees.
Now it has about 2,600 employees.
The last two years saw the company’s revenue grow by more than 20 percent, to $2.6 billion in 2019.
The business expanded to include hotels, resorts, and other businesses in the mid-1990s.
The value of hotel property grew from $9.2 million in 1997 to $17.4 billion in 2007.
This year, the company plans to invest $3 to $5 billion in new hotels and hotels-motels.
It expects to expand its hotel portfolio to more than 200 properties by 2023.