September 28, 2016 // Franchising.com // CHICAGO – Hyatt Hotels Corporation (NYSE: H) and Dogus Croatia today announced plans for a Hyatt Regency hotel in Zadar, Croatia – the first Hyatt-branded hotel to open in the country. Hyatt Regency Zadar Maraska is expected to open in the spring of 2019.
“We look forward to collaborating with the team at Dogus Croatia to open the first Hyatt Regency hotel in Croatia, and the first Hyatt-branded hotel on the Adriatic Coast,” said Peter Norman, senior vice president, acquisitions and development – Europe, Africa, and Middle East for Hyatt. “We are confident that the globally recognized Hyatt Regency brand will resonate with the growing base of business and leisure travelers visiting the country.”
The hotel will be located at Zadar’s landmark Maraska building on the waterfront and will be within walking distance of the city’s famous Sea Organ, an experimental instrument that plays music through the movement of sea waves. Hyatt Regency Zadar Maraska will be a great launching pad for travelers visiting Croatia’s Dalmatian coast, the Roman and Venetian ruins, and famous national parks, including Plitvice Lakes, Zadar Archipelago and Kornati National Park.
Hyatt Regency Zadar Maraska will deliver on the modern expectations of today’s travelers and meeting planners. The 130-room hotel will feature authentic food and beverage offerings that will build off the Hyatt Regency brand’s history of culinary excellence. The hotel will serve as the perfect venue for a variety of events such as weddings, social banquets, exhibitions, meetings, and conferences. Additionally, the hotel will offer a fitness center, spa and an outdoor swimming pool.
“We are very excited to work with Hyatt to bring the Hyatt Regency brand to Croatia,” said Burak Baykan, Dogus Group regional director for Croatia and Montenegro. “With Hyatt, we look forward to transforming the famous Maraska building and we believe the strong Hyatt Regency brand experience, combined with the hotel’s excellent facilities, will have a great appeal to those visiting the country.”
For more information about Hyatt Regency hotels, please visit www.hyattregency.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.
The Hyatt Regency brand prides itself on connecting travelers to who and what matters most to them. More than 168 conveniently located Hyatt Regency urban and resort locations in over 30 countries around the world serve as the go-to gathering space for every occasion – from efficient business meetings to memorable family vacations. The brand offers a one-stop experience that puts everything guests need right at their fingertips. Hyatt Regency hotels and resorts offer a full range of services and amenities, including notable culinary experiences; technology-enabled ways to collaborate; the space to work, engage or relax; and expert planners who can take care of every detail. For more information, please visit www.hyattregency.com.
Dogus Croatia is 100% owned by Dogus Group. Dogus Group is one of the largest private conglomerates in Turkey, and is the owner of Grand Hyatt Istanbul and Park Hyatt Istanbul and is currently developing Hyatt House Istanbul Gebze. The Hotel would be the 4th Dogus Group owned property to be operated by Hyatt. Dogus Group has invested more than 250 million Euros to Croatia, and currently owns and operates two hotels and three marinas in Croatia. Dogus Group is also the second largest shareholder in Adriatic Croatia International Club (ACI), the largest chain of marinas on the Adriatic. For more information visit https://www.dogusgrubu.com.tr/en.
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 12 premier brands and 667 properties in 54 countries, as of June 30, 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. These statements include statements about our plans, strategies, occupancy and ADR trends, market share, the number of properties we expect to open in the future, our expected adjusted SG&A expense, our estimated comparable systemwide RevPAR growth, maintenance and enhancement to existing properties capital expenditures, investments in new properties capital expenditures, depreciation and amortization expense and interest expense estimates, 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 and a worsening of global economic conditions or low levels of economic growth; the rate and the 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; limited visibility with respect to future bookings; loss of key personnel; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters such as earthquakes, tsunamis, tornadoes, hurricanes, floods, oil spills, nuclear incidents and global outbreaks of pandemics or contagious diseases or fear of such outbreaks; our ability to successfully achieve certain levels of operating profits at hotels that have performance guarantees in favor of our third party owners; the impact of hotel renovations; our ability to successfully execute our common stock repurchase program; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through Internet travel intermediaries; changes in the tastes and preferences of our customers, including the entry of new competitors in the lodging business; relationships with colleagues and labor unions and changes in labor laws; 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 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; the timing of acquisitions and dispositions; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); unforeseen terminations of our management or franchise agreements; changes in federal, state, local or foreign tax law; increases in interest rates and operating costs; foreign exchange rate fluctuations or currency restructurings; lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; violations of regulations or laws related to our franchising business; 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 only as of the date of this press release. We do not undertake or assume any 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.
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