Hyatt Announces Plans for a Second Hyatt Regency Hotel in Greater Moscow
Hyatt continues its expansion of its brand in Russia with plans for Hyatt Regency Moscow Istra Resort
The hotel will be the sixth Hyatt-branded hotel under development in Russia
CHICAGO - July 9, 2013 - (BUSINESS WIRE) - Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Istra-Kurort LLC, a Russian real estate development company, for a Hyatt Regency hotel in Moscow. Expected to open in 2017, Hyatt Regency Moscow Istra Resort will join the luxurious Ararat Park Hyatt Moscow already open in the city.
Located on the shores of the famous Istra Reservoir, Hyatt Regency Moscow Istra Resort will feature 168 guestrooms and 52 extended-stay apartments, as well as a conference center with a 3,760 square-foot (350-square-meter) ballroom, a spa, and a fitness center with indoor and outdoor pools. Additionally, the hotel will offer multiple food and beverage outlets, including an all-day-dining restaurant and a bar, lobby lounge and a specialty restaurant with a pristine view of the reservoir. Hyatt Regency Moscow Istra Resort is expected to become an ideal destination for social functions, weekend getaways and off-site corporate meetings for Moscovites, expatriates and Russian guests visiting the capital city.
“Establishing our brand’s presence in key gateway cities like Moscow is an integral part of our strategy to drive guest preference for Hyatt-branded hotels in Russia, a market that continues to experience strong growth in visitor numbers,” said Peter Norman, senior vice president, real estate and development for Hyatt Hotels & Resorts. “We are thrilled to have the opportunity for another hotel in Moscow, which will join the already open, five-star Ararat Park Hyatt Moscow and the currently under development Hyatt Regency Moscow Petrovsky Park. The development of Hyatt’s brands in Moscow and Russia and the CIS remains an absolute priority.”
“We are delighted to work with Hyatt on Hyatt Regency Moscow Istra Resort,” said Dmitry Badaev, managing director, Istra-Kurort LLC. “We believe the strength of Hyatt’s service culture and the depth of its operational expertise will bring great value to the new hotel.”
Hyatt Regency Moscow Istra Resort will join five other Hyatt-branded hotels currently under development across Russia, including:
- Hyatt Regency Moscow Petrovsky Park
- Hyatt Regency Rostov on Don
- Hyatt Regency Sochi
- Hyatt Regency Vladivostok Golden Horn
- Hyatt Burny Vladivostok
Hyatt’s hotel pipeline is larger than it has ever been, and as of March 31, 2013, it included executed management or franchise contracts for approximately 200 hotels across all brands in all of the regions in which Hyatt hotels operate. For more information, please visit www.hyattdevelopment.com.
About Hyatt Regency
Hyatt Regency hotels are conveniently located in urban, suburban, airport, convention and resort destinations around the world. Properties range in size up to 2,000 rooms, feature intimate and large meeting spaces, and offer a full range of services and dining options tailored to serve the needs of conventions, business travelers or resort vacationers. Hyatt Regency hotels enable all guests – whether they are traveling to work, unwind or gather in celebration – to feel productive and revitalized. www.hyattregency.com
About Istra-Kurort LLC
Istra-Kurort LLC is a part of Gleden Invest Group. Assets of the Group include: Azimut Hotels (properties range in size up to 9,000 rooms and hotels are located in Russia, Austria and Germany), Metropol Hotel 5* located in Moscow, more than 500,000 square meters of commercial real estate, and number of other assets. The Group is owned by Mr. Alexander Klyachin.
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 House® 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 March 31, 2013, the Company's worldwide portfolio consisted of 508 properties in 46 countries. For more information, please visit www.hyatt.com.
Forward-Looking 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. 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 economic downturns; levels of spending in business and leisure segments as well as consumer confidence; declines in occupancy and average daily rate; if our third-party owners, franchisees or development partners are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. 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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