Hunter
03/28/24
The Graduate Hotel in downtown Iowa City is being acquired by the Hilton Chain.
The Daily Iowan reports the hotel will retain its name and current management after Hilton acquires the Graduate brand in a franchising arrangement reportedly worth $210 million.
The Iowa City hotel’s manager, Jay LeaVesseur told the DI that they’re unable to share much information on the deal until it’s formally agreed upon, which they believe will be done by early May at the latest.
Hilton’s corporate office put out a release earlier this month announcing the acquisition, agreeing to sign a franchise agreement in the second quarter of the year.
Hilton Corporate Communications and Media Relations Director Laura Ford told the DI that Hilton will maintain the Graduate brand, and the current property owner, Adventurous Journeys, will continue to own Graduate Iowa City and leave the current team to operate the hotel.
