Global Hyatt Corp and JER Partners announces acquisition of London's Great Eastern Hotel, from Conran Holdings and the Blackstone Group for an undisclosed price. 

The transaction is expected to close in March.

The hotel will continue to operate as the Great Eastern through December 31, 2006 and, in January 2007, will be rebranded under the Hyatt Regency name. 

It is anticipated that Conran Holdings will continue to provide advisory services on all restaurant and private dining operations following the acquisition.

Located in the City of London, the capital's financial hub, the historic, 267-room Great Eastern Hotel sits adjacent to Liverpool Street Station.

Originally opened in two phases in 1884 and 1901 respectively, the stunning Victorian hotel was fully renovated and reopened in February 2000.  Today, it boasts four restaurants, five bars and 12 private dining and event rooms.