Royal Palms Resort And Spa To Join The Unbound Collection By Hyatt
Hyatt’s Newest Brand To Grow With The Addition Of Celebrated Phoenix Hotel
June 20, 2016 // Franchising.com // CHICAGO – Hyatt Hotels Corporation (NYSE: H) today announced that a wholly owned subsidiary has entered into an agreement to purchase the 119-room Royal Palms Resort and Spa. The transaction is expected to close in July 2016. The hotel will continue to be operated as the Royal Palms Resort and Spa and will become affiliated with The Unbound Collection by Hyatt, offering a rich history and sense of place that fits the brand’s promise of creating story-worthy and shareable experiences for guests.
“The acquisition of the Royal Palms Resort and Spa shows our commitment to growing this brand, as well as our commitment to guests as we aim to create an increased presence in markets where we know they are traveling,” said Steve Haggerty, global head, real estate and capital strategy for Hyatt. “The Royal Palms Resort and Spa is an ideal fit for The Unbound Collection by Hyatt given the hotel’s prominent positioning in the market and its ability to create experiences for our guests. We look forward to continuing to grow this brand globally in a strategic and meaningful way.”
The Royal Palms Resort and Spa borders Scottsdale and Paradise Valley in Arizona. It was opened in 1929 as the home of wealthy New York financier, Delos Willard Cooke. Known as “El Vernadero” or the family’s winter haven, the property drew immediate attention and became a beloved local landmark known for its Mediterranean, Spanish colonial architecture and luxurious landscaped grounds, using the famous Camelback Mountain as a design focal point.
The Royal Palms Resort and Spa offers 119 oversized guestrooms, suites, casitas and villas, as well as more than 21,000 square feet of estate-like indoor and outdoor meeting space. Its world-class amenities include the award-winning Alvadora Spa and the highly acclaimed T.Cook’s restaurant, which features seasonal menus in an elegant and intimate setting. The Alvadora Spa is designed with tranquil stone interiors, and the outdoor treatment areas are set within lush, private courtyards. The resort’s luxurious Desert Palm Pool includes cabanas, an outdoor lounge and spa, and The Mix Up Bar and Desert Pool Side Café, which offers creative cocktails and al fresco poolside dining. A two-story fitness center overlooks the estate that includes an orange grove and Tuscan-style gardens with stone fireplaces throughout.
The Unbound Collection by Hyatt launched in February 2016 and has since grown to six properties offering story-worthy experiences, including the newest addition of the Royal Palms Resort and Spa. Other properties in the collection include The Confidante in Miami Beach, Miami; The Driskill Hotel in Austin, Texas; the Hôtel du Louvre in Paris, France; the Carmelo Resort & Spa in Carmelo, Uruguay; and the Coco Palms Resort in Kauai, Hawaii, which is expected to undergo a revitalization and re-open in spring 2018.
Each property in The Unbound Collection by Hyatt will maintain its distinct character and the freedom to be extraordinary while providing guests and owners Hyatt’s award-winning customer loyalty program, robust operational and marketing resources and trusted, quality brand.
For more information about The Unbound Collection by Hyatt: [http://www.unboundcollectionbyhyatt.com/].
The term “Hyatt” is used in the release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 12 premier brands and 652 properties in 53 countries, as of March 31, 2016. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to create value for shareholders, build relationships with guests and attract the best colleagues in the industry. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences and vacation ownership properties, including under the Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric™, The Unbound Collection by Hyatt™, Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™ and Hyatt Residence Club® brand names and have locations on six continents. 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 our actual results, performance or achievements 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; the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners; the possible inability of third-party owners, franchisees or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and the introduction of new brand concepts; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; general volatility of the capital markets and our ability to access such 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 U.S. Securities and Exchange Commission. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements. We caution you not to place undue reliance on any forward-looking statements, which are made only 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 law. 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.
SOURCE Hyatt Hotels Corporation
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