The Graduate Iowa City hotel, along with the rest of the national Graduate brand will likely be franchised by Hilton following the conclusion of a $210 million deal struck by the hotel operator this month.

The Graduate Iowa City Manager Jay LeaVesseur wrote an email to The Daily Iowan that little information could be shared on The Graduate’s end until the deal is formally agreed upon, a timeline that is estimated to be fulfilled in April or early May.

Hilton is a hotel operator responsible for 22 hotel brands around the world. Hilton’s corporate office stated in a release on March 14 that an agreement had been made with Adventurous Journeys Capital Partners, the property owners for the Graduate brand, to sign a franchise agreement in the second quarter of 2024, or from April 1 through June 30.

“At this point, both parties have effectively reached an agreement to reach an agreement,” wrote LeaVesseur.

Laura Ford, Hilton Corporate Communications and Media Relations Director, stated in an email to the DI that Adventurous Journeys will retain ownership of Graduate hotel locations. Ford stated Hilton will operate the brand for a licensing fee they estimate will cost $16 million in the first year.

In the email, Ford said Hilton will maintain the Graduate brand. The email also stated Adventurous Journeys will remain the owner of the Graduate Iowa City hotel and will continue to be operated by its current team, according to the email.

The release also stated that Hilton intends to continue growing their brand, expanding from more than 35 properties to approximately 400-500 worldwide in the foreseeable future, which will add to Hilton’s 7,500+ locations worldwide.

Ford declined the DI’s request for an interview, stating that Hilton was not taking interviews at this time.

The Graduate Iowa City hotel is an important piece of economic infrastructure in Iowa City, according to Stacey Houseman of Think Iowa City, a destination marketing firm.

“The Graduate is a gateway for people to get to experience Iowa City when they otherwise wouldn’t be able to,” Houseman said in an interview with the DI.

She stated that the Graduate hotel, as a representation of Iowa City and Midwest culture, is a meeting space for various groups of people.

Houseman said the Graduate brand is adaptable and each Graduate location is designed to model the city it is from, and the Iowa City location is no different.

Iowa City’s status as a UNESCO City of Literature, due in part to the UI’s renowned writing programs, is recounted in the Graduate Hotel’s design, including a library design in the lobby and images of Kurt Vonnegut, an author of such works as “Slaughterhouse-Five,” in the rooms.