Hyatt Hotels Corporation Announces Plans for Hyatt Regency Riyadh

The hotel is expected to open in 2013 and is the seventh Hyatt-branded hotel under development in Saudi Arabia.

CHICAGO--(BUSINESS WIRE)--Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into an agreement with Mohammed A. Al Swailem Co. for Commercial Investment for a Hyatt Regency hotel in the Kingdom of Saudi Arabia. Hyatt Regency Riyadh marks the seventh Hyatt-branded hotel under development in Saudi Arabia, and the second Hyatt-branded hotel under development in Riyadh; the previously announced Park Hyatt Riyadh is expected to open in 2015. There is currently one Hyatt-branded hotel in Saudi Arabia, Park Hyatt Jeddah - Marina, Club and Spa, which opened in 2009.

Expected to open in the third quarter of 2013, Hyatt Regency Riyadh will offer 257 guestrooms, including 37 suites, which will range in size from 322 sq ft (30 sq m) to 2,475 sq ft (230 sq m). The hotel will also offer a lobby lounge, two restaurants, a Regency Club lounge, more than 5,900 sq ft (550 sq m) of ballroom and event space, and a number of small meeting rooms. Additional hotel amenities include a male spa with six treatment rooms, a 2,300 sq ft (220 sq m) male and female fitness center, and pool. The hotel is designed by Erga and ONG&ONG is designing the hotel’s interiors.

“Hyatt Regency Riyadh joins the expanding number of Hyatt-branded hotels under development in the Kingdom of Saudi Arabia,” said Peter Norman, Senior Vice President, Acquisitions and Development for Hyatt International – Europe, Africa, and Middle East. “Hyatt Regency Riyadh is the first Hyatt-branded hotel slated to open in the next three years in Saudi Arabia’s capital and largest city and we look forward to working with Al Swailem Investment Co. as we grow the number of Hyatt hotels throughout the country.”

“We are pleased to work with Hyatt on our first Hyatt-branded hotel in Saudi Arabia,” said Abdulaziz M. Al Swailem, President & CEO for Al Swailem Investment. “We appreciate Hyatt’s commitment to providing authentic hospitality to its guests and are very happy to be working with Hyatt to introduce the Hyatt Regency brand to Riyadh.”

Located on Olaya Road in the Al Olaya district in the city of Riyadh, Hyatt Regency Riyadh will be a stand-alone building in close proximity to the city’s Central Business District, which hosts prominent landmarks including the Al Faisaliah Tower and the Kingdom Centre. Riyadh is a major convention and exhibition destination for government and corporate sectors, and the hotel will be conveniently located near the Riyadh International Convention and Exhibition Centre on King Abdullah Road.

“Our Hyatt Regency brand offers the business traveler convenient locations, spacious and well-equipped meeting facilities and authentic restaurants in a stylish and comfortable environment. We are proud to add one more Hyatt hotel to our expanding portfolio in the Kingdom of Saudi Arabia,” said Peter Fulton, Managing Director, Hyatt International, South West Asia.

In addition to 149 Hyatt Regency hotels open worldwide as of December 31, 2011, more than 30 previously announced Hyatt Regency hotels are under development around the world in China, India, Latin America, Mongolia, Russia, Switzerland, and the Middle East.

About Hyatt Regency

Hyatt Regency offers a full range of services and facilities tailored to serve the needs of meeting planners, business travelers and leisure guests. Properties generally range in size to over 2,000 rooms and are conveniently located in urban, suburban, airport, convention and resort destinations around the world. Hyatt Regency convention hotels feature spacious meeting and conference facilities designed to provide a productive environment.

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. Hyatt House is changing its brand identity from Hyatt Summerfield Suites®. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Vacation Club®, which is changing its name to Hyatt Residence ClubTM. As of December 31, 2011, the Company's worldwide portfolio consisted of 483 properties in 45 countries. For more information, please visit www.hyatt.com.

About Mohammed A. Al Swailem Co. for Commercial Investment

Mohammed A. Al Swailem Co. is a general investment company specialized in the field of Construction as well as in the Hospitality Industry. Founder Mohammed Ali Al Swailem started his career in early 1950's as an employee of Arab American Oil Company (ARAMCO). During his time with this organization, it came to his vision the idea to mold his talent and establish his own partnership corporation, which was solely specialized on road construction during the midst of 1960’s. The company became in no time one of the leading companies in this field and played a major role in constructing and developing infrastructure projects across the kingdom. In 1984, the company was incorporated to be a Limited partnership and became a fully diversified investment company concentrating in operation and maintenance services including the fast-food services and establishing mega shopping malls in Qassim city.

Considering the industrial growth in the kingdom and the increasing demand on accommodation services, Al Swailem group decided to invest in the tourism industry by opening its Hotel Division. The Hotel Division is now running four well known brands located in the major cities among the kingdom: Ramada Gulf Hotel Al Khobar, Mercure Hotel Al Khobar, Coral Gulf Riyadh and Ramada Hotel & Suites in Qassim. The Hotel’s division is planning to further expand across the kingdom by running more brands under its umbrella that would match with the increasing demand and to further satisfy business and leisure travelers needs. For more information, please visit www.alswailem.sa.

Forward-Looking Statements

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, general economic uncertainty in key global markets, the rate and pace of economic recovery following economic downturns; 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; foreign exchange rate fluctuations or currency restructurings; 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.

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Contacts:

Hyatt Hotels Corporation
Laurie Cole
+1 312 780 5935
laurie.cole@hyatt.com

Yasmin Poonegar
+971 50 1891 262
yasmin.poonegar@hyatt.com

 

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