Hyatt House Seattle/Downtown Listed for Sale After $3.2 Million Renovation

Hyatt House Seattle/Downtown, a 172-room hotel in South Lake Union, is now listed for sale following $3.2 million in recent renovations and is offered unencumbered by management and debt.

The Hyatt House Seattle/Downtown, a 172-key upscale extended-stay hotel, has been listed for sale. The property is offered as a fee-simple interest and is unencumbered by management and debt. The hotel, which opened in 2015, underwent renovations in 2024 and 2025 totaling approximately $3.2 million, or $19,000 per key. The property is operated by Hotel Equities and features below-grade parking with 64 spaces. It is one of only two Hyatt-branded select-service hotels in downtown Seattle and one of six upscale extended-stay hotels in the area.

Location and Surrounding Area

The hotel is located in the South Lake Union neighborhood, a 340-acre area recognized as a major tech hub in Seattle. South Lake Union is home to companies such as Amazon, PATH, the Bill & Melinda Gates Foundation, Fred Hutch Cancer Research, and UW Medicine Research. Over the past decade, more than $10 billion has been invested in development and infrastructure in the neighborhood. The hotel is situated across the street from the Space Needle, which attracts 1.3 million annual visitors, and near Seattle Center, which receives over 12 million annual visitors. The Climate Pledge Arena, which reopened in 2021 after a $1.15 billion redevelopment, is also nearby and hosts over 200 events annually, drawing approximately 2 million visitors.

Brand Affiliation and Market Position

The Hyatt House Seattle/Downtown is affiliated with the Hyatt House brand, which operates 145 properties in 124 cities in the U.S. and Canada. The brand has received recognition in the upscale extended-stay segment and reports a 111% Revenue Per Available Room (RevPAR) index premium compared to competitors. The hotel benefits from the Hyatt loyalty program and brand recognition.

Regional Economic Outlook

Seattle is projected to see continued growth in the hospitality sector. According to CBRE Hotels Research, Seattle’s RevPAR is expected to increase by 4.0% in 2026. The city will host six FIFA World Cup games in 2026, with Seattle Center designated as the official fan celebration site, expected to attract an estimated 750,000 visitors during the tournament. The Puget Sound region is the second-largest market by share of tech talent in the U.S., and it has the third-largest AI-specialty talent cluster in the country.

Potential for NBA Expansion

Newsweek has projected a 94% probability that the Seattle SuperSonics NBA team will return to the city before 2030, with a potential announcement by the NBA Commissioner expected in July 2026.

Return-to-Office Trends

The hotel is located 0.5 miles from Amazon’s global headquarters. As major employers in Seattle, such as Amazon, reinstate in-office work mandates, business travel demand is expected to increase, providing a stable base of corporate demand for the hotel.

Long-Term Market Performance

Seattle’s hotel market has been among the fastest recovering in the U.S. since the COVID-19 pandemic. Between 2021 and 2024, Seattle ranked as the fourth-fastest recovering lodging market nationally. By the end of 2025, the Seattle Central Business District hotel submarket recorded a 16.4% increase in RevPAR compared to 2022, according to CoStar data.

Inquire at CBRE.