Hyatt And Tamdeen Group Announce Plans For Grand Hyatt Kuwait
Grand Hyatt Kuwait will add to the brand’s growing presence in the Gulf region
November 09, 2015 // Franchising.com // CHICAGO – Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a contract with Tamdeen Group to develop a 261-room Grand Hyatt hotel in Kuwait. Expected to open in 2020, the newly built hotel will be an integral part of 360 MALL, an iconic premier luxury shopping destination that integrates retail, leisure and entertainment under one roof. Grand Hyatt Kuwait will mark the fifth Grand Hyatt hotel in the Gulf Cooperation Council (GCC), after the opening of Grand Hyatt Abu Dhabi in 2016.
Located seven miles from downtown on 6th Ring road, Grand Hyatt Kuwait will be within close reach of various embassies, a number of government ministries and the Kuwait International Airport. Grand Hyatt Kuwait will offer standard rooms of 130 square feet (40 square meters), four food and beverage outlets where guests can enjoy inventive cuisine, and first class meeting and events facilities that will cater to government, business and social events in the city.
Grand Hyatt Kuwait will be designed by RTKL Architects, who also designed the existing 360 Mall. As with all Grand Hyatt hotels, this new development will offer guests a sophisticated environment, based on innovative design and architecture complementing Kuwait’s unique culture.
“Kuwait is increasingly becoming a major gateway city, so we are delighted to announce this plan to bring the Grand Hyatt brand to this global business and cultural hub,” said Peter Norman, senior vice president, acquisitions and development for Hyatt – Europe, Africa, and Middle East. “We look forward to welcoming guests to Grand Hyatt Kuwait, where they will be able to experience the innovative design, dramatic architecture and superior service for which the Grand Hyatt brand is known. It is also a pleasure to execute this project with Tamdeem Group who are well known for the impeccable quality of their developments.”
Tamdeem Group is an organization aiming to reshape the urban and social landscape of Kuwait through developing innovative mixed-use projects.
“We are honored to work with Hyatt as the brand continues to expand its presence in the Gulf region,” said Mohammed Jassim Khalid Al Marzouq, chairman, Tamdeen Group. “Grand Hyatt Kuwait, our first project with Hyatt, will bring the hospitality aspect of the 360 MALL to life as part of the expansion of the prestigious international tennis complex launched earlier this month. Given Hyatt’s strong brand name and the new hotel’s excellent location, we believe that Grand Hyatt Kuwait will attract both business and leisure travelers from across the region.”
The state-of-the-art facilities available to guests at Grand Hyatt Kuwait will extend beyond the hotel, as it forms part of 360 MALL’s expansion comprising the new state-of-the-art Sheikh Jaber Al Abdullah Sabah Tennis Complex. With the expansion, 360 MALL will grow to more than 390,000 square feet (120,000 square meters). This new leisure complex marks an important milestone in the growth of Kuwait’s luxury market, and Grand Hyatt guests will be able to enjoy its facilities right at their doorstep.
The Tennis Complex will have combined stadium seating for more than 7,600 people across two main arenas, each with the capacity to hold 4,000 people and 1,600 respectively, eight indoor courts with more than 500 seats and eight outdoor courts with 1,500 seats.
About Grand Hyatt
Around the world, Grand Hyatt hotels unlock the extraordinary in every moment by creating experiences beyond expectation. Located at the crossroads of local culture and global business within major gateway cities and resort destinations, each Grand Hyatt hotel is uniquely designed to reflect its own distinct environment and provides a hub for travelers and locals alike. Grand Hyatt hotels exemplify the pursuit of life lived grandly offering guests superior service, first-class accommodations and an abundance of options within a multicultural backdrop of dramatic architecture and innovative design. Grand Hyatt properties boast inventive restaurants, luxury spas, fitness centers, and stunning business, meeting and event facilities. The Grand Hyatt brand stands to make every moment memorable through its commitment to #LivingGrand every day. For additional information or to make a reservation, please visit http://www.grandhyatt.com.
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
About Tamdeen Group
Tamdeen Group is one of the largest privately held conglomerates in Kuwait. Through diverse holdings in real estate, entertainment, shopping centres, hotels and cinemas the group owns assets valued at USD$4 billion. The Hotel is being developed by Spirit Real Estate Development Company, in which Tamdeen holds an approximately 90% interest. Spirit Real Estate Development Company will also develop the Kuwait International Tennis Complex. Grand Hyatt Kuwait will be the flagship asset in Tamdeen Group’s growing hospitality portfolio.
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, license, own and develop hotels, resorts, branded residences and vacation ownership properties under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt House®, Hyatt Zilara™ and Hyatt Ziva™, Hyatt Residences® and Hyatt Residence Club® brand names and have locations on six continents. As of September 30, 2015, the Company's worldwide portfolio consisted of 627 properties in 52 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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