An Unknown buyer entered into an agreement to acquire Hyatt Centric Santa Barbara from Chesapeake Lodging Trust (NYSE:CHSP) for $90 million on June 4, 2018. The transaction is subject to customary pro-rations at closing and other customary closing conditions and requirements. The transaction is expected to close within next 60 days. Chesapeake Lodging will use the proceeds to repay all outstanding borrowings under its revolving credit facility. An Unknown buyer completed the acquisition of Hyatt Centric Santa Barbara from Chesapeake Lodging Trust (NYSE:CHSP) on July 26, 2018.