Hilton Agrees to Buy Graduate Hotels Brand for $210 Million (1)

Hilton Worldwide Holdings Inc. agreed to buy Graduate Hotels, a lodging brand focused on college campuses, for $210 million.

Hilton will seek to help boost the brand, with Chief Executive Officer Chris Nassetta saying that the addressable market for Graduate is 400 to 500 hotels globally, according to a statement Thursday confirming an earlier Bloomberg News report. There are currently more than 30 hotels in Graduate’s portfolio.

Graduate Hotels, backed by AJ Capital, opened its first locations in Athens, Georgia, and Tempe, Arizona, in 2014, according to its website. It focuses on locations near college campuses, including in the ...