Hyatt is already closing the first property in its Caption by Hyatt brand, just three years after it opened on Memphis’ Beale Street.
The 136-room Caption by Hyatt Beale Street Memphis debuted in 2022 as the launchpad for Hyatt’s lifestyle concept, meant to compete with Marriott’s Moxy and CitizenM, Hilton’s Motto, and IHG’s Ruby. But the brand’s flagship property is now set to be absorbed by its neighbor, Hyatt Centric Beale Street Memphis, according to a report in The Daily Memphian.
The Carlisle Corp., developer of both hotels, told members of the Downtown Memphis Commission Center City Revenue Finance Corp. that the Centric has far outperformed the Caption, which “has not been a brand that has been very successful” in Memphis.
Carlisle plans to merge the two properties into a single 363-room Hyatt Centric, with renovations estimated at up to $5 million.
What’s Next for the Memphis Hotels
The combined hotel will feature one lobby, one restaurant, and one fitness center. Guest rooms on the Caption side — which this reporter found comfortable when visiting shortly after the property opened — will be upgraded to Centric standards. Both hotels are expected to remain operational during the renovation.
The Caption’s closure marks a pivot for the Beale Street development. Plans originally called for a Grand Hyatt to also rise alongside the Centric and Caption, but that project has stalled amid disputes between Carlisle and the City of Memphis over development incentives.
Neither Hyatt nor Carlisle responded to requests for comment before deadline.
Caption by Hyatt Still Expanding Elsewhere
While the Memphis hotel is winding down, Hyatt still has big plans for Caption. In Tennessee, the brand operates in Nashville’s Gulch neighborhood and has another opening slated for Chattanooga. Internationally, Caption has launched in Asia with hotels in Osaka and Shanghai, with Tokyo coming soon. A Sydney outpost is also in the pipeline.
For now, however, travelers who want to experience Hyatt’s newest lifestyle concept will soon have to look beyond Beale Street.
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