Hyatt and R&F UK Announce Plans for Park Hyatt London River Thames at Nine Elms
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Hyatt and R&F UK Announce Plans for Park Hyatt London River Thames at Nine Elms

The hotel will represent Hyatt's growing brand presence in the United Kingdom

November 25, 2020 // Franchising.com // CHICAGO - Hyatt Hotels Corporation (NYSE:H) announced today that a Hyatt affiliate has entered into management agreement with R&F UK for a new Hyatt-branded hotel in London. The 203-room Park Hyatt London River Thames is expected to open in 2022 and will be located within R&F UK’s Nine Elms development on the south bank of the river. The addition of the hotel to the U.K. market signifies Hyatt’s continued brand growth into Europe’s leading cities.

“The addition of the Park Hyatt brand to London is a key milestone for Hyatt,” said Felicity Black-Roberts, vice president of development Europe, Hyatt. “It has always been a priority to bring our luxury Park Hyatt brand back to London, so this is a fantastic opportunity for us. We are excited to continue and expand on Hyatt’s relationship with R&F by bringing this new exciting hotel to London.”

Directly opposite Westminster, the Nine Elms area has recently undergone significant regeneration and become a popular residential district. The Park Hyatt hotel will be part of a new series of developments by R&F UK, consisting of eighteen buildings, which will include 2,300 high quality apartments, more than 120,000 square feet (11,150 square meters) of commercial space and numerous shops and restaurants, including One Thames City, an exclusive new riverside development comprising of premium residences, hotels, shops, park and restaurants, has been developed in conjunction with CC Land. Construction of the Nine Elms development is well under way and the schemes are expected to take shape over the next two years.

R&F UK has assembled a world-leading design team for the development and new hotel, including Skidmore Owings & Merrill LLP (SOM), Kohn Pedersen Fox Associates (KPF) and Allies and Morrison, with landscape architects, Gillespies, leading on the Linear Park, and Super Potato curating interior design within the development.

“We are delighted that Hyatt has identified R&F UK’s Nine Elms development as the best location in London for its Park Hyatt brand.” said Michael Purefoy, Global Brand Director of R&F UK. “The globally recognized Hyatt name is a valuable addition to the development and we’re pleased to share that this agreement further cements the strong relationship that we continue to enjoy with Hyatt properties across the world.”

The Park Hyatt hotel will provide discerning global travelers with a refined and luxurious experience that unlocks unparalleled benefits from Nine Elms’ international focus, being located close to the new U.S. Embassy.

A secure executive wing and exquisite event spaces will offer a carefully curated and personalized experience for business and government travelers. Guests will also be able to unwind in the signature Park Hyatt Living Room with its understated luxury touches and world-renowned artwork and design, and a large ballroom will also be a rare feature for London.

For guests looking to explore, the hotel will serve as the perfect launchpad to discover everything the locale has to offer. The property’s nearby attractions will include local walking routes to stroll and explore Sloane Square and bustling Kings Road, the award-winning gallery, Tate Britain, the charming green expanse of 200-acre Battersea Park and the Kia Oval cricket ground.

Further, by the time the hotel is set to open, the Northern Line London Underground extension is expected to be operational, with an entrance located within a few minutes’ walk of both hotels. The new line will connect Nine Elms with the city and West End in under 15 minutes.

The new hotel at the Nine Elms development in London will boost Hyatt's brand footprint in the country, joining Hyatt Regency London – The Churchill, Hyatt Regency Birmingham, Hyatt Regency Manchester and Hyatt House Manchester, Andaz London Liverpool Street, Hyatt Place London Heathrow Airport, Hyatt Place West London Hayes and Great Scotland Yard Hotel, which is part of The Unbound Collection by Hyatt brand. Additional Hyatt-branded hotels under development in the U.K. include Hyatt Regency Edinburgh Marina, Hyatt Place London City East and Hyatt Centric Cambridge, all expected to open within the next two years.

Forward-Looking Statements

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, but are not limited to, the short- and longer-term effects of the COVID-19 pandemic, including on the demand for travel, transient and group business, and levels of consumer confidence; actions that governments, businesses, and individuals take in response to the COVID-19 pandemic or any resurgence, including limiting or banning travel; the impact of the COVID-19 pandemic, and actions taken in response to the COVID-19 pandemic or any resurgence, on global and regional economies, travel, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretionary spending; the ability of third-party owners, franchisees or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic; the duration of the COVID-19 pandemic and the pace of recovery following the pandemic or any resurgence; 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; domestic and international political and geo-political conditions, including political or civil unrest or changes in trade policy; 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, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases or fear of such outbreaks, such as the COVID-19 pandemic; our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans and common stock repurchase program and quarterly dividend, including a reduction in or elimination of repurchase activity or dividend payments; 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; relationships with colleagues and labor unions and changes in labor laws; 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; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); 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; declines in the value of our real estate assets; 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; our ability to successfully grow the World of Hyatt loyalty program; 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 (“SEC”), including our annual report on Form 10-K and our Quarterly Report on Form 10-Q filed on May 7, 2020, which filings are available from the SEC. 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 Park Hyatt

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