Caliber (NASDAQ: CWD) advances three Hyatt Studios hotel projects
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
CaliberCos Inc. furnished an update on its Hyatt Studios hotel development platform, describing three extended-stay hotel projects in Steamboat Springs, Riverwalk/Scottsdale, and Georgetown.
The Steamboat Springs project has closed acquisition and construction financing, is expected to break ground in the second quarter of 2026, and is targeted to open in the third or fourth quarter of 2027. Caliber outlines a model of building and stabilizing these hotels, then transitioning them into long-term ownership through Caliber Hospitality Trust using a forward purchase structure.
The company is offering accredited investors access to the Hyatt Studios development platform via a diversified feeder fund or project-specific investments, with targeted levered IRRs in the low-to-mid-20% range and targeted equity multiples of approximately 2.3x–2.6x over a six-year hold, supported in Steamboat by about $1.14 million of Hyatt brand capital.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Construction period: 15–17 months
Targeted levered IRR: low-to-mid-20%
Targeted equity multiple: 2.3x–2.6x
+5 more
8 metrics
Construction period
15–17 months
Estimated time from groundbreaking to opening for Hyatt Studios developments
Targeted levered IRR
low-to-mid-20%
Projected levered internal rate of return over a six-year hold
Targeted equity multiple
2.3x–2.6x
Projected equity multiple for Hyatt Studios developments over a six-year hold
Hyatt brand capital
$1.14 million
Total brand capital support from Hyatt for the Steamboat Springs project
Managed assets
$2.6 billion
Caliber’s managed assets across its platform
Track record length
17 years
Caliber’s history investing in middle-market hospitality and multifamily real estate
Hotel keys per property
114–122 keys
Right-sized footprint of Hyatt Studios hotels described in the platform
Steamboat target opening
Q3/Q4 2027
Planned opening window for the Steamboat Springs Hyatt Studios hotel
Key Terms
extended-stay hospitality, Caliber Hospitality Trust (CHT), levered IRRs, equity multiples, +2 more
6 terms
extended-stay hospitality financial
"growing demand for extended-stay hospitality"
Caliber Hospitality Trust (CHT) financial
"transition assets into long-term trust ownership that recycles capital while limiting risk. Hyatt Studios ... transition into long-term ownership through Caliber Hospitality Trust (CHT)"
levered IRRs financial
"targeted levered IRRs in the low-to-mid-20% range"
Levered IRRs are the annualized return rate on an investment after taking into account borrowed money (debt) used to finance it; they measure how leverage changes the effective profit or loss an investor earns. Because using debt is like buying something with a mortgage — it can amplify gains when things go well and worsen losses when they don’t — levered IRRs help investors see the combined effect of the project’s performance and the financing terms on their real return.
equity multiples financial
"targeted equity multiples of approximately 2.3x–2.6x over a 6-year hold"
The equity multiple is a simple ratio that shows how much cash an equity investor receives in total compared with what they originally put in, calculated as total distributions plus final sale proceeds divided by the original equity investment. It matters to investors because it tells, in plain multiples (for example 2.0x means you got twice your money), how successful an investment was and helps compare returns and risk across deals — like totaling all rent and the sale price of a house versus what you paid for it.
accredited investors regulatory
"offering is available exclusively to accredited investors and their professional advisors"
Accredited investors are individuals or entities considered to have enough financial knowledge and resources to understand and handle more complex and risky investments. They are often allowed to participate in private investment opportunities that are not available to the general public, similar to how experienced players might access exclusive clubs or events. This status helps ensure that investors can manage potential risks and rewards appropriately.
Regulation D regulatory
"only to accredited investors in accordance with Regulation D and applicable federal and state securities laws"
Regulation D is a set of rules that govern how companies can raise money from investors without going through the full process required for public stock offerings. It provides simplified options for private placements, making it easier for companies to seek investments from a smaller group of investors. For investors, it offers opportunities to invest in private companies, often with fewer restrictions, but also with different levels of risk and disclosure.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
(Exact Name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction of Incorporation)
| (Commission File Number) | (IRS Employer Identification No.) | |||||||
| 85258 | ||||||||
| (Address of Principal Executive Offices) | ||||||||
(480 ) 295-7600
(Registrant’s Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbols | Name of each exchange on which registered | ||||||
The | ||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 7.01 Regulation FD Disclosure.
On April 22, 2026, CaliberCos Inc. (the “Company” or “Caliber”) issued a press release announced that it continues to execute on its multi-market Hyatt Studios development platform, advancing three hospitality projects across high-conviction markets: Steamboat Springs, CO; Riverwalk/Scottsdale, AZ; and Georgetown, TX. The first project in Steamboat Springs closed acquisition and construction financing in April 2026 and is expected to break ground during the second quarter of 2026. The platform represents a focused effort to capitalize on supply-constrained markets and growing demand for extended-stay hospitality.
A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is hereby furnished pursuant to this Item 7.01.
The information disclosed under this Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits
Exhibit No. | Exhibit | |||||||
99.1 | Press release dated April 22, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CaliberCos Inc. | ||||||||
| Date: April 22, 2026 | ||||||||
| By: | /s/ John C. Loeffler, II | |||||||
| Name: | John C. Loeffler, II | |||||||
| Title: | Chief Executive Officer | |||||||
Exhibit 99.1
Caliber Advances Hyatt Studio Development Platform Across Three High-Growth Markets - Steamboat Springs Construction Will First to Begin
SCOTTSDALE, Ariz, April. 22, 2026 (GLOBE NEWSWIRE) – Caliber (NASDAQ: CWD), a diversified real estate and digital asset management platform, today announced that it continues to execute on its multi-market Hyatt Studios development platform, advancing three hospitality projects across high-conviction markets: Steamboat Springs, CO; Riverwalk/Scottsdale, AZ; and Georgetown, TX. The first project in Steamboat Springs closed acquisition and construction financing in April 2026 and is expected to break ground during the second quarter of 2026. The platform represents a focused effort to capitalize on supply-constrained markets and growing demand for extended-stay hospitality.
The announcement comes at a time when new hotel development remains limited across many U.S. markets, despite a continued recovery in travel demand.
Each of these Hyatt Studios locations was selected based on long-term structural demand drivers, not short-term market timing. Together, the three markets create diversification across destination leisure, employment-driven extended stay, and high-growth metro expansion, while maintaining alignment with the Hyatt Studios operating model. Caliber’s model is designed to build, stabilize, and transition assets into long-term trust ownership that recycles capital while limiting risk.
Hyatt Studios, Hyatt's upper-midscale extended-stay brand, is purpose-built for longer stays with a lean operating model and strong brand loyalty. Caliber’s strategy is to develop institutional-quality Hyatt Studios assets that transition into long-term ownership through Caliber Hospitality Trust (CHT) under a forward purchase framework.
Each development is expected to require approximately 15–17 months from groundbreaking to opening, with the goal of having all three projects active at varying stages over the next two years. Steamboat Springs is targeted to open in the third or fourth quarter of 2027, with the remaining projects following sequentially thereafter.
The Hyatt Studios brand is purpose built to deliver a highly efficient, scalable extended stay offering, combining lean staffing, standardized room design, and a right-sized footprint of 114 to 122 keys with a streamlined construction approach that reduces structural steel requirements and overall development costs. This model enables a repeatable construction template, a scalable underwriting approach, and a controlled cost basis, typically supporting a 15 to 17 month construction timeline. Sequential development across multiple sites further enhances efficiency and returns for owners.
Hyatt Studios hotels are designed around the needs of modern extended stay travelers, offering studio apartment style suites with kitchenettes, complimentary grab-and-go breakfast, a 24/7 market, on-site laundry, and a fitness center. Together, these features provide the comfort and functionality of home in a simplified and reliable format. The brand is further differentiated by its ability to capture strong loyalty through the Hyatt ecosystem, leveraging World of Hyatt to drive consistent demand, deepen guest engagement, and deliver long term value for owners.
“We’re building this platform with Hyatt in markets where supply is constrained and demand continues to grow,” said Chris Loeffler, Chief Executive Officer of Caliber. “Our Hyatt Studios’ development is designed specifically for developer efficiency and operational scalability, and we anticipate that the targeted levered IRRs in the low-to-mid-20% range with targeted equity multiples of approximately 2.3x–2.6x over a 6-year hold.”
Steamboat Springs, CO - Hyatt Studio Development
Targeted opening Q3/Q4 2027
The Steamboat Springs project is fully entitled and advancing toward construction, with zoning approved, a general contractor engaged, and construction financing closed in April 2026. The project received unanimous zoning approval, reflecting strong alignment with local demand and a clear supply gap in the market. Construction is expected to commence in Q2 2026 with an estimated completion in Q2 2027.
The Steamboat market represents one of the most compelling hotel development environments in the Mountain West. It is a year-round destination with established winter ski demand paired with growing summer visitation. Older hotel options in the area create a positive competitive environment for a modern branded product like Hyatt Studios.
Caliber believes that Steamboat’s economics are unusually attractive for new development. Unlike many resort markets where replacement cost pressures impair feasibility, Steamboat’s supply constraints and pricing power create an environment where new, branded inventory is advantaged.
Riverwalk / Scottsdale, AZ - Hyatt Studio Development
Caliber’s Riverwalk / Scottsdale, AZ Hyatt Studio development is located in a nationally recognized leisure destination with premiere golf, resort, and event-driven visitation. The location has premium seasonal pricing power and high barriers to entry due to limited land availability and complex zoning dynamics. We believe that the location will have a strong seasonal leisure market demand dynamic with anticipated premium average daily rate (ADR) performance during peak periods, which should support strong pricing power and attractive margins for well-positioned assets.
The Riverwalk / Scottsdale, AZ land site is already controlled by Caliber via a long-term lease, which provides significant development and operational control. The site’s design review (DR) is in process, and the conditional use permit (CUP) is under review. The coordinated master plan/site plan resubmittal is in progress with the goal of approvals of the DR and CUP by the third quarter of 2026.
Georgetown, TX - Hyatt Studio Development
The Georgetown location is part of the Austin, Texas corridor, as it benefits directly from the area’s continued population and economic expansion. Austin remains one of the fastest-growing MSAs in the U.S. The area is seeing a multi-billion-dollar Austin Convention Center redevelopment, which should cause an increase in convention and corporate overflow demand for hotels. The land has already been purchased; the transaction closed in October 2025. Caliber is evaluating the optimal development strategy to align with market demand and maximize long-term value.
Longer-term strategy - transition to Caliber Hospitality Trust (CHT) portfolio
Caliber’s strategy is not merchant development, but long-term ownership. Stabilized assets are expected to transition into Caliber Hospitality Trust (CHT) through a forward purchase structure, providing investors who fund the development with visibility on exit and reducing disposition risk.
Caliber’s Hyatt Studios offering
Caliber is now actively offering accredited investors the opportunity to participate in the Hyatt Studios development platform by offering two options: The first, a feeder-fund structure, whereby investors may gain diversified exposure across the development pipeline. The second, a project by project offering, starting with the Steamboat location.
Caliber’s initial Hyatt Studios capital launch in Steamboat Springs, CO, marks the formal execution phase of its three-market development platform. The Company has prioritized early-stage de-risking, including unanimous zoning approval, near-term closing, secured construction financing terms, contractor engagement, and brand-backed capital support from Hyatt. This disciplined approach is designed to align capital deployment with execution visibility and institutional-grade sponsorship.
The offering is available exclusively to accredited investors and their professional advisors and is structured with a defined maximum capital raise, a preferred return component, and a promote structure consistent with Caliber’s hospitality development platform. The investment is designed with an anticipated medium-term hold period and institutional alignment between sponsor and investors.
Hyatt is directly supporting the Steamboat project with approximately $1.14 million in total brand capital, reflecting strong brand alignment with Caliber’s execution strategy.
Additional information regarding the investment structure, targeted returns, risk factors, tax considerations (including potential bonus depreciation benefits), and subscription procedures is available exclusively through Caliber’s investor portal and official offering materials documents.
Press Release is for informational purposes only
This press release is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Any offering of securities will be made only by means of definitive offering documents and only to accredited investors in accordance with Regulation D and applicable federal and state securities laws.
Investments involve risks, including the possible loss of principal. Any targeted returns, projections, or forward-looking statements are estimates only, are not guaranteed, and are subject to the assumptions and risk factors described in the offering materials.
About Caliber (CaliberCos Inc.)
Caliber (Nasdaq: CWD) is a real estate-focused alternative asset manager with over $2.6 billion in Managed Assets and a 17-year track record investing in middle-market hospitality and multifamily real estate. The Company operates an institutional-quality asset management platform paired with a boutique, hands-on investment approach focused on value creation in underserved market segments. In 2025, Caliber integrated digital asset infrastructure into its platform by investing in LINK, the token underlying Chainlink, a key technology enabling real estate fund tokenization, and is implementing blockchain and tokenization strategies across its investment platform to enhance how assets are financed, owned, and accessed. Investors can participate in Caliber through its publicly traded equity (Nasdaq: CWD), which provides exposure to both its real estate platform and digital asset holdings, and through its private real estate investment funds for accredited investors and financial professionals.
Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Forward-looking statements herein include, but are not limited to: timing of Steamboat Springs project to breaking ground; development expected to require approximately 15–17 months from groundbreaking to opening; Steamboat Springs targeted opening in the third or fourth quarter of 2027; Hyatt Studios’ development targeted levered IRRs and targeted equity multiples; statements regarding Riverwalk leisure market demand and average daily rate (ADR) performance. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the Company’s public offering filed with the SEC and other reports filed with the SEC thereafter. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
CONTACTS:
Caliber Investor Relations
Ilya Grozovsky
+1 480-214-1915
Ilya@CaliberCo.com
Impact Partners
Public Relations
Phillip Roberson
PRobertson@ImpactPartners.com
FAQ
What did Caliber (CWD) announce about its Hyatt Studios development platform?
Caliber announced progress on a Hyatt Studios hotel development platform across Steamboat Springs, Riverwalk/Scottsdale, and Georgetown. It highlighted financing for Steamboat, a build‑stabilize‑hold strategy, and plans to transition stabilized assets into Caliber Hospitality Trust under a forward purchase structure.
What are the key milestones and timing for Caliber’s Steamboat Springs Hyatt Studios project?
The Steamboat Springs project has closed acquisition and construction financing and is expected to start construction in Q2 2026. Caliber estimates 15–17 months from groundbreaking to opening, targeting a launch in the third or fourth quarter of 2027, subject to development execution.
How can investors participate in Caliber’s Hyatt Studios development platform?
Caliber is offering accredited investors two options to participate in the Hyatt Studios platform. They can invest through a diversified feeder‑fund covering the pipeline or via project‑by‑project offerings, starting with Steamboat, under a defined maximum capital raise, preferred return, and promote structure.
What returns does Caliber target for the Hyatt Studios hotel developments?
Caliber’s strategy targets levered internal rates of return in the low‑to‑mid‑20% range and equity multiples of about 2.3x–2.6x over a six‑year hold. These figures are projections only and depend on execution, market conditions, and the risks outlined in formal offering materials.
What role does Hyatt play in Caliber’s Steamboat Springs Hyatt Studios project?
Hyatt is directly supporting the Steamboat Springs Hyatt Studios project with approximately $1.14 million of brand capital. The hotel will operate under the Hyatt Studios extended‑stay brand, leveraging Hyatt’s lean operating model and World of Hyatt loyalty program to help drive demand and potential owner returns.
Is Caliber’s Hyatt Studios opportunity an offer to sell securities to the public?
No. The communication states it is for informational purposes only and not an offer to sell or solicitation to buy securities. Any securities offering will be made solely through definitive offering documents to accredited investors under Regulation D and applicable securities laws.