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Hyatt to acquire Royal Palms Resort and Spa in Phoenix

A Hyatt HotelsCorp. unit agreed to acquire Royal Palms Resort and Spa in Phoenix foran undisclosed sum.

The company will add the hotel to The Unbound Collection by Hyatt,bringing to six the number of properties under the brand.

The 119-room hotel, which will retain its name, was launchedin 1929. It has more than 21,000 square feet of meeting space, a spa, a restaurantand other amenities.

The company expects the deal to close in July.