Hyatt Recognizes Excellence among Owners and Developers with 2013 Awards

Hyatt Hotels Corporation
Published: April 17th, 2013

CHICAGO - April 17, 2013 - (BUSINESS WIRE) - Hyatt Hotels Corporation (NYSE: H) honored the top owners and developers of its hotels at its global owners’ conference in Orlando, Fla. Hyatt’s Executive Chairman of the Board of Directors Tom Pritzker and President and Chief Executive Officer Mark Hoplamazian presented awards to 10 companies.

“We are privileged to have a strong network of owner relationships around the world,” said Hoplamazian. “All of the companies recognized this year have proven to be valued collaborators with a strong history of quality projects. We thank them for their contribution to our company and for their support for our brands, and look forward to continuing to grow together with them in ways that create mutual value.”

Hyatt presented the following awards for excellence in hotel development and management:

The Strategic Partner award recognizes a company for its strong culture, performance and operating philosophies, which have resulted in a long-term, multi-brand relationship with Hyatt. Three companies received the 2013 Strategic Partner award:

• Hersha Hospitality Trust – Hyatt continues to value its longstanding relationship with Hersha Hospitality Trust (NYSE: HT). The company is both owner and developer of Hyatt-branded full service and select service hotels, which include Hyatt 48Lex, Hyatt Place Philadelphia/King of Prussia, Hyatt House White Plains, Hyatt House Gaithersburg, Hyatt House Bridgewater, Hyatt House Pleasant Hill/Walnut Creek, Hyatt House Pleasanton/Dublin, and Hyatt House Scottsdale. Hersha is also expected to open its second full service Hyatt-branded hotel – Hyatt Union Square – in New York in late April.
• Saraf Holdings Private Limited – Saraf Holdings Private Limited owns Grand Hyatt Mumbai and Hyatt Place Hampi, the first Hyatt Place hotel to open in India and the second Hyatt Place to open outside of the United States. The company is currently developing Hyatt Regency Ahmedabad, which is expected to open later this year, and Andaz Delhi, which is expected to open in 2014.
• Mori Building Company – Mori Building Company owns Grand Hyatt Tokyo and Park Hyatt Shanghai, and is currently developing a third Hyatt-branded hotel, Andaz Tokyo, which will be the first Andaz-branded hotel in Japan and is expected to open in 2014.

The Developer of the Year award recognizes a company for its hotel development in strategic locations and construction quality and efficiency. Two companies received the 2013 Developer of the Year award:

• Concord Hospitality – As an owner and developer of both Hyatt Place and Hyatt House hotels, Concord Hospitality currently manages Hyatt Place Grand Rapids-South, one of the first LEED-certified Hyatt Place hotels, in Wyoming, Mich. and Hyatt House Boulder/ Broomfield in Broomfield, Colo. Concorde will be opening three more Hyatt House hotels in Raleigh, Pittsburgh and Jersey City, as well as a Hyatt Place hotel in Miami.
• Extell Development – As developer of the currently under construction Park Hyatt New York and Hyatt Times Square, Extell has been a major contributor in further expanding Hyatt’s brand presence in New York, one of the world’s greatest business, financial and cultural centers. Expected to open in 2014, Park Hyatt New York will bring an understated, contemporary sophistication to Manhattan. Hyatt Times Square is slated to open this summer, and will be located in the heart of Manhattan’s famed Theater District, offering guests easy access to some of the city’s most iconic and popular destinations.

The Best Project award recognizes notable hotel openings in strategic locations. Three hotels were named the 2013 Best Project:

• Hyatt Place Los Angeles/LAX/El Segundo – OTO Development places a strong emphasis on quality, reliability, service, and value, and as owner and developer of Hyatt Place Los Angeles/LAX/El Segundo, the company introduced the next generation Hyatt Place prototype to the Los Angeles market. OTO Development also currently manages Hyatt Place and Hyatt House Fort Lauderdale Airport and Cruise Port, Hyatt Place Herndon/Dulles Airport-East, Hyatt Place Chesapeake/Greenbriar, and Hyatt Place Long Island/East End.
• Hyatt Place San Jose/Pinares – With the opening of this hotel marking the first Hyatt-branded hotel in Costa Rica and the first Hyatt Place hotel outside of the United States, Hotelera Pinares, S. A., a subsidiary of Strategic Hospitality Investments Corporation, helped bring Hyatt’s authentic hospitality to a market in which the Hyatt brands were not represented. Hotelera Pinares is also developing Andaz Papagayo, which is expected to open in 2014.
• Hyatt Regency New Orleans – The reopening of Hyatt Regency New Orleans was a significant milestone in New Orleans’ post-Katrina revitalization efforts, and the hotel continues to play an important role in the community. Hyatt Regency New Orleans is owned by Poydras Properties Hotel Holdings, a hospitality venture that includes AREA Property Partners, Poydras Hotel Members LLC, and a subsidiary of Hyatt Hotels Corporation.

The Best Conversion award recognizes a company for reconfiguring and transforming an existing property and converting it to a Hyatt-branded hotel.

• Hyatt French Quarter and Hyatt Place New Orleans/Convention Center – HRI Lodging Inc. helped bring the Hyatt and Hyatt Place brands to New Orleans. With its excellent location in the heart of the French Quarter, Hyatt French Quarter underwent an $18 million renovation, which included upgrades to the hotel’s 254 guestrooms, as well as the hotel exterior, lobby, landscaping and pool and deck décor. Hyatt Place New Orleans/Convention Center is located across the street from the Ernest N. Morial New Orleans Convention Center, and underwent extensive renovations to meet Hyatt Place’s brand standards, which include the Hyatt Grand Bed, a 42” high definition television and an ergonomic work center, among others.

The Renovation Excellence award recognizes a company for reconfiguring and transforming a Hyatt-branded hotel.

• Hyatt Regency Minneapolis – Haberhill is responsible for the hotel’s $25 million renovation, which included updates to the guestrooms, suites, public areas, restaurants, meeting space, and building systems.

“Hyatt works with some of the most respected hotel owners and developers in the world,” said Jim Chu, senior vice president, franchise and owner relations for Hyatt. “We look forward to continuing the momentum with our owners and developers to strengthen our representation in the full service, select service and extended stay segments in the United States and around the world.”

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place® and Hyatt HouseTM brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Residence ClubTM. As of December 31, 2012, the Company's worldwide portfolio consisted of 500 properties in 46 countries. For more information, please visit www.hyatt.com.

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Contact:

Hyatt Hotels Corporation
Siân Martin
+1 312 780 5797
sian.martin@hyatt.com