Hyatt Introduces Hyatt Place(R) and Hyatt HouseTM in Asia with Agreements for Three Hotels in Shanghai
Hyatt’s Global Expansion of Select Service Brands Key to Enhancing Worldwide Customer Preference - Agreements Announced for 8 Additional Full Service Hotels in China
CHICAGO--(BUSINESS WIRE)--Hyatt Hotels Corporation (NYSE: H) announced today that the introduction of its Hyatt Place® and Hyatt HouseTM brands in Asia with the signing of management agreements by Hyatt affiliates for two Hyatt Place hotels and one Hyatt House hotel in Shanghai. The company also announced that Hyatt affiliates signed management agreements for eight additional full service hotels in China, bringing the total of announced Hyatt-branded hotels under development in China to 32.
“These three new hotels will mark the introduction of Hyatt’s select service brands in China”
The first Hyatt House and Hyatt Place hotels in China will be located in Shanghai’s Jiading New Town and Xinjiangwan suburbs. Management agreements have been signed for the 210-room Hyatt Place Shanghai Jiading, the 77-room Hyatt House Shanghai Jiading, and the 150-room Hyatt Place Shanghai Xinjiangwan.
With the announcement of its first Hyatt Place and Hyatt House properties in China, Hyatt is taking another step in the worldwide expansion of its select service brands, which also have properties under development in India, Europe and Latin America. The Hyatt Place and Hyatt House concepts are rooted in extensive consumer research and offer casual hospitality in a smartly designed, high-tech and contemporary environment. Research indicates that guests merge their personal and professional lives while traveling and want a hotel that makes it easy to do so.
“These three new hotels will mark the introduction of Hyatt’s select service brands in China,” said Nong Xia, senior vice president of real estate and development for Hyatt Hotels & Resorts in China, “and will serve as a showcase for the Hyatt House and Hyatt Place brands as we expand their presence to other Chinese markets to meet the needs of increasing numbers of domestic travelers and affluent Chinese consumers. We expect these innovative brands to be well received by Chinese developers and guests, and believe bringing our select service offerings to this market is an important step toward becoming the preferred hospitality brand in China.”
Hyatt House Shanghai Jiading and Hyatt Place Shanghai Jiading, expected to open in the summer of 2014, will be part of a planned mixed use development near the city center that will be comprised of commercial, residential, and recreational areas. Hyatt Place Xinjiangwan, which will be located in the Yangpu District, is expected to open in early 2015.
The additional eight executed full service management agreements for new hotels in China being announced include three Grand Hyatt hotels and five Hyatt Regency hotels. The Grand Hyatt hotels will be located in Hefei, Lijiang, and on the Shenzhou Peninsula. Of the five additional Hyatt Regency hotels, four will be located in Shanghai: Chongming, Hongqiao, Jiading and Wujiaochang; and one will be located in Zhenjiang.
“The new agreements being announced today, along with the previously announced properties under development, demonstrate growing confidence among owners and developers in the strength of Hyatt-branded hotels in China,” said Steve Haggerty, global head of real estate and development for Hyatt Hotels Corporation.
Following are details about the newly-announced full service hotels under development.
Grand Hyatt Lijiang
Lijiang is one of the most popular tourist destinations in China and this resort hotel, at the foot of the Jade Dragon Snow Mountain, will have 240 guest rooms and 60 suites, as well as 2,255 square meters of meeting and event space. The hotel, expected to open in 2014, will also feature a spa, two indoor pools, four specialty restaurants and two lounges.
Grand Hyatt Hefei
The hotel will be located within a mixed use development in Hefei’s new municipal administration and cultural district. Featuring 318 rooms and 32 suites, three specialty restaurants, a lounge, a bar, a spa and a fitness center, as well as 2,160 square feet of meeting and event space, the hotel is expected to open in 2016.
Grand Hyatt Shenzhou Peninsula
This resort hotel will be located on the tropical Hainan Island, China’s second largest, and will feature 330 guest rooms. Expected opening is 2013.
Hyatt Regency Shanghai, Chongming
Linked to the Pudong area of Shanghai by the newly-constructed Shanghai Yangtze River Tunnel and Bridge, Chongming is an emerging new suburban destination providing a quick countryside escape for city dwellers. This hotel, expected to open in early 2014, will feature 153 rooms and 27 suites, and 1,790 square meters of meeting and event space. The island of Chongming, the third largest island in Greater China, is expected to have an 18-hole golf course.
Hyatt Regency Shanghai, Hongqiao
Located in the Hongquiao International Trade Center in the Channing District, the hotel will be in close proximity to three major exhibition centers in the Hongqiao area, including the Shanghai international Exhibition Center, Shanghai Mart Exhibition Center, and Shanghai Exhibition Center, which combined have more than 50,000 square meters of meeting and event space. Expected to open in 2014, the hotel will feature 270 rooms and 30 suites, 1,347 square meters of meeting and event space, a spa, fitness center, two restaurants, a bar, and a lobby lounge.
Hyatt Regency Shanghai, Jiading
Located in northwest Shanghai’s Jiading New City, an emerging suburb with a strong master plan, the hotel will be located in the newly developing central business district and will be located in a landmark building over 150 meters tall. Expected to open in 2014, the hotel will feature 289 rooms and 52 suites, 1,935 square meters of meeting and event space, two restaurants, a lounge, a spa, and a fitness center.
Hyatt Regency Shanghai, Wujiaochang
The hotel will be located northeast of Shanghai in Yangpu District which is home to 17 universities, 22 national laboratories, and more than 100 scientific institutes. Part of a mixed use development including an office tower and shopping mall, the hotel will be located in a stand-alone building and is expected to open in 2013. The hotel will feature 333 rooms and 17 suites, 2,225 square meters of meeting and event space, two restaurants, a lounge, pool, spa, and fitness center.
Hyatt Regency Zhenjiang
Located in the central business district in the Da Shi Kou area, at the intersection of two main thorough fares, the hotel will be sit atop a landmark building in Suning Plaza, a mixed use development. Expected to open in 2014, the hotel will feature 280 rooms and 20 suites, 1,570 square feet of meeting space, a spa, fitness center, and pool, as well as two restaurants and a lobby lounge.
Hyatt-branded hotels open and under development in Greater China
Including the recently-opened Hyatt Regency Jinan, there are currently 18 full service Hyatt-branded hotels in cities across greater China such as Beijing, Hong Kong, Macau, Shanghai, Shenzhen, and Taipei. Expected later this year are the openings of the highly-anticipated Andaz Shanghai and Park Hyatt Ningbo. In addition to the new agreements announced today, Hyatt-branded properties are also under development in the following Chinese cities: Changbaisan, Changchun, Chengdu, Chongqing, Dalian, Guangzhou, Hangzhou, Nanjing, Sanya Sunny Bay, Sanya Sunny Bay, Sanya Haitang Bay, Shenyang, Suzhou, Wenzhou, Wuxi, and Xuzhou.
Hyatt also announced today that it has signed management agreements for the first two Hyatt-branded hotels in Mongolia.
Hyatt Regency Ulaanbaatar
Less than a mile from Sukhbaatar Square, considered to be the center of the city, and adjacent to the Dund River, this hotel will have 259 rooms, including 43 suites and 22 serviced apartments, two specialty restaurants, a tea room, and a sky bar and lobby. The hotel, in Mongolia’s largest city and its capital, will be the center piece of MAK Tower mixed use project and is expected to open in 2014. The hotel will be located 8 miles from the airport and will have 23,166 square meters of meeting and event space.
Hyatt Regency Ulaanbaatar Turtle Rock
Located within Terelj National Park 25 miles from Ulaanbaatar, adjacent to Turtle Rock, and at the foot of Khentii Mountains, this resort hotel will have 131 rooms, including 19 suites, and 30 traditional Mongolian Gers. Near-by attractions include the glacial Khagiin Lake, Yestii Hot Springs, a Buddhist Monastery, and over 250 species of birds. The hotel, expected to open in 2015, will have 8,988 square meters of meeting and event space, a spa, fitness center and indoor pool.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feels 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 Park Hyatt, Andaz, Grand Hyatt, Hyatt Regency, Hyatt, Hyatt Place and Hyatt House brand names and have locations on six continents. Hyatt Summerfield Suites is being rebranded as Hyatt HouseTM. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses as Hyatt ResidencesTM and Hyatt Vacation Club®, which is changing its name to Hyatt Residence ClubTM. As of June 30, 2011, the Company’s worldwide portfolio consisted of 456 properties in 44 countries. For more information, please visit www.hyatt.com.
Statements in this press release, which are not historical facts, are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about our plans, strategies, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, the rate and pace of economic recovery following the recent economic downturn; levels of spending in business and leisure segments as well as consumer confidence; declines in occupancy and average daily rate; hostilities, including future terrorist attacks, or fear of hostilities that affect travel; travel-related accidents; changes in the tastes and preferences of our customers; relationships with associates and labor unions and changes in labor law; the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners; risk associated with potential acquisitions and dispositions and the introduction of new brand concepts; changes in the competitive environment in our industry and the markets where we operate; outcomes of legal proceedings; changes in federal, state, local or foreign tax law; fluctuations in currency exchange rates; general volatility of the capital markets and our ability to access the capital markets. A more complete description of these risks and uncertainties can be found in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Hyatt Hotels & Resorts
Laurie Cole, +1 312 780 5935
Hyatt Hotels & Resorts
Daniella Wu, +852 2768 1271