Hyatt Announces Plans for a Park Hyatt Hotel in Qingdao
CHICAGO - October 22, 2012 - (BUSINESS WIRE) - Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a management agreement with China Resources Land Limited for a Park Hyatt hotel in Qingdao, China. China Resources Land Limited is the owner of Grand Hyatt Shenzhen, which opened in 2009, and is the owner and developer of five additional Hyatt-branded hotels under development in China, including Park Hyatt Hangzhou, Grand Hyatt Dalian, Grand Hyatt Hefei, Grand Hyatt Shenyang, and Grand Hyatt Zhengzhou. Park Hyatt Qingdao will be the second Hyatt-branded hotel in Qingdao, following the opening of Hyatt Regency Qingdao, which is slated to open at the end of 2012.
“Qingdao is a key economic powerhouse in Shandong Province and one of China’s most important ports, and is also a popular tourist destination and a renowned summer retreat,” said Larry Tchou, Group President, Asia Pacific, Hyatt Hotels and Resorts. “We believe Park Hyatt Qingdao will deliver an unprecedented level of luxury and unrivalled hospitality experience to guests visiting this bustling gateway city. This hotel is our seventh hotel project with China Resources Land Limited, which is significant because it further underscores our relationship with this organization, as well as our commitment to creating preference by enhancing distribution of Hyatt-branded hotels throughout China, a market where our guests are frequently traveling.”
Expected to open in 2016, Park Hyatt Qingdao will be centrally located in Qingdao’s Central Business District on Shandong Road. The hotel will be part of City Crossing, a mixed used complex that will incorporate high-end residential buildings, serviced apartments, office space, and luxury shopping facilities. Park Hyatt Qingdao will be located on the upper levels of a 250-meter high skyscraper with office space underneath. The hotel will offer 247 guestrooms and suites, and will also feature an array of restaurants and bars, multi-purpose meeting and banquet spaces, a fitness center, a pool and a spa.
“We are pleased to be working with Hyatt again on a project as significant as this, and we look forward to growing our portfolio of Hyatt-branded hotels throughout China,” said Thomas Choi, Vice President of China Resources Land.
For more information, please visit www.hyattdevelopment.com.
About Park Hyatt
Park Hyatt provides discerning, affluent individual business and leisure guests with elegant and luxurious accommodations. Guests of Park Hyatt receive highly attentive personal service in an intimate environment. Located in many of the world's premier destinations, each Park Hyatt is custom designed to combine sophistication with distinctive regional character. Park Hyatt features well-appointed guestrooms, meeting and special event spaces for smaller groups, critically acclaimed art programs and signature restaurants featuring award-winning chefs.
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 has locations on six continents. 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 Residence ClubTM. As of June 30, 2012, the Company's worldwide portfolio consisted of 492 properties in 45 countries. For more information, please visit www.hyatt.com.
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