September 30, 2016 // Franchising.com // CHICAGO – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Eosh Properties SDN. BHN., an affiliate of KAJ Development, for a Hyatt Place hotel in Melaka Gateway, Malaysia. Expected to open in late 2019, Hyatt Place Melaka Gateway will be part of the Melaka Gateway, a mixed-use project currently being developed by KAJ Development.
“Hyatt Place Melaka Gateway will be the first Hyatt Place hotel in Malaysia, and we are delighted to work with KAJ Development to introduce the brand to the country,” said David Udell, group president – Asia Pacific, Hyatt Hotels Corporation. “The opening of this hotel will mark a significant milestone for Hyatt as the Hyatt Place brand continues to expand worldwide and offer more choices to our guests in key gateway cities.”
Hyatt Place hotels offer casual hospitality and purposeful service in a smartly designed, high-tech and contemporary environment. The 25-story Hyatt Place Melaka Gateway will feature breathtaking views of the Strait of Melaka, and will be just a short distance away from contemporary shopping district Hatten Square and numerous historical attractions, including Dutch Square. The hotel will offer more than 2,690 square feet (250 square meters) of flexible function space for meetings, conferences and events, as well as a rooftop swimming pool and vibrant poolside bar featuring an expansive ocean view.
Hyatt Place Melaka Gateway will be located on the western coast of Malacca City, and will be a key component of the Melaka Gateway mixed use development, which will be comprised of three reclaimed islands. When the development is fully completed in 2025, Melaka Gateway will include office towers, residential space, hotels, an extensive convention center, shopping centers, a 328-foot (100-meter) high ferris wheel, a landmark lighthouse, and the largest cruise terminal in Asia. Malacca City is a UNESCO World Heritage Site, and is rich with attractions, including A Fomosa, Jonker Walk, Stadthuys, and Christ Church, among others.
“We are very excited to bring the first Hyatt Place hotel to Malaysia,” said Datuk Michelle Ong, Chief Executive Officer of KAJ Development and Founder & Chief Executive Officer of Melaka Gateway. “We believe the Hyatt Place brand will be an excellent addition to Melaka Gateway, and will nicely complement the overall development for the area. Melaka Gateway is set to redefine the town of Melaka and reinvigorate the development of this historical area. We look forward to a long and fruitful relationship with Hyatt.”
For more information about Hyatt Place hotels, please visit www.hyattplace.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.
Hyatt Place, a brand of Hyatt Hotels Corporation, combines style, innovation and 24/7 convenience to create a seamless stay with modern comforts. There are more than 255 Hyatt Place locations in the United States, Armenia, Chile, China, Costa Rica, Honduras, India, Mexico, Morocco, Nicaragua, Panama, Puerto Rico, Thailand, The Netherlands, United Arab Emirates, and United Kingdom. Join the conversation onFacebook and Instagram, and tag photos with #HyattPlace and #WhySettle.
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.
SOURCE Hyatt Place
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