Hyatt Expands Presence in Turkey with Plans for Hyatt Regency Izmir Istinye Park
The hotel will mark the seventh Hyatt branded property in Turkey and the Hyatt Regency brand's entry into Izmir
February 24, 2020 // Franchising.com // CHICAGO - Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a franchise agreement with Orjin Konaklama Yönetim Hizmetleri A.S. for the first Hyatt branded hotel in Izmir, Turkey. Expected to open in 2021, the 161-room hotel marks the seventh Hyatt branded property in Turkey and the brand’s entry into Izmir, the country’s third largest and one of the oldest cities in the Mediterranean.
Hyatt Regency Izmir Istinye Park will be part of a new major development, Istinye Park Izmir, slated to become a local landmark comprising of a high-end shopping mall and an impressive 860,000 square foot (80,000 square meter) park. Located 12 miles (20 kilometers) from the airport, the hotel will be in close proximity to the metro, tram and bus stations, providing direct access to downtown Izmir.
“Turkey continues to be one of the most popular tourist destinations in Europe, and we have long sought to expand our brand footprint outside of Istanbul,” said Takuya Aoyama, vice president development, Hyatt. “We are very pleased to be working with Orjin Group who has an excellent track record of developing and operating premium real estate in the country.”
The property, which will overlook the Gulf of Izmir, will be designed with business and leisure travelers in mind, offering seamless and personalized experiences for any occasion. Hyatt Regency Izmir Istinye Park will feature a restaurant and bar, as well as a spa and a fitness center. Additionally, with more than 21,500 square feet (2,000 square meter) of flexible event space, the hotel will also offer a premium venue for corporate meetings and social gatherings alike.
“We are thrilled to be working alongside Hyatt as it expands its brand presence in Turkey,” said Zafer Kursun, chairman of Orjin Group. “Hyatt Regency is a globally recognized brand and our extensive knowledge of the Turkish market and the city of Izmir will allow us to develop a premium property.”
Hyatt Regency Izmir Istinye Park will be joining Hyatt’s growing portfolio across Turkey, alongside Park Hyatt Istanbul - Macka Palas, Hyatt Regency Istanbul Atakoy, Grand Hyatt Istanbul, Nish Palas Istanbul, Hyatt Centric Levent Istanbul and Hyatt House Gebze.
For more information on the Hyatt Regency brand and its range of properties worldwide, visit hyattregency.com and connect with the Hyatt Regency brand on Facebook and Instagram.
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 Hyatt Regency
The Hyatt Regency brand prides itself on making travel free from stress and filled with success. More than 200 conveniently located Hyatt Regency urban and resort locations in more than 30 countries around the world serve as the go-to gathering space for every occasion - from efficient personalized, high-touch business meetings to energizing family vacations. The brand offers stress-free environments for seamless gatherings and empathetic service that anticipates guests’ needs. Designed for productivity and peace of mind, Hyatt Regency hotels and resorts offer a full range of services and amenities, including the space to work, engage or relax; notable culinary experiences; technology-enabled ways to collaborate; and expert meeting and event planners who can take care of every detail. For more information, please visit hyattregency.com. Follow @HyattRegency on Facebook, Twitter and Instagram, and tag photos with #HyattRegency.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 20 premier brands. As of December 31, 2019, the Company's portfolio included more than 900 hotel, all-inclusive, and wellness resort properties in 65 countries across six continents. 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 attract and retain top employees, build relationships with guests and create value for shareholders. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences, vacation ownership properties, and fitness and spa locations, including under the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination®, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, Joie de Vivre®, Hyatt House®, Hyatt Place®, tommie™, Hyatt Residence Club® and Exhale® brand names, and operates the World of Hyatt® loyalty programme that provides distinct benefits and exclusive experiences to its valued members. For more information, please visit www.hyatt.com.
About Orjin Konaklama Yönetim Hizmetleri A.S.
Orjin Konaklama Yönetim Hizmetleri A.S. is a joint stock company based in Istanbul and the real estate development company within Orjin Group. Orjin Group started his commercial activity in the beginning of 1980’s with the production of leather garment and related wear. With an export-oriented mindset, Orjin Group has produced and is still producing high quality leather and fur products for international luxury brands.
In 1990’s the Group has added Real Estate Developments to its field of activity. Presently, Orjin Group possesses a big portfolio of real estates, which mainly consists of historical buildings in shopping streets, hotel, office and logistics buildings at different locations of Istanbul. The most well-known development of Orjin Group is IstinyePark Istanbul Shopping Center and Residences Project, which was awarded by ICSC - International Council of Shopping Centers as the Best Shopping Center in Europe in 2009. Orjin Group is now developing IstinyePark Izmir Shopping Center and Hotel Project having a total investment of 425 million US Dollars. Hyatt Regency Izmir Istinye Park will be the hotel component of the mixed used development in Izmir.
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 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; 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; 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 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, and our ability to successfully integrate completed acquisitions with existing operations; our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program; cyber incidents and information technology failures; 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.
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