Hyatt Announces Plans for Hyatt Regency London Olympia
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Hyatt Announces Plans for Hyatt Regency London Olympia

Situated in a new development in West London, Hyatt Regency London Olympia will mark the second Hyatt Regency hotel in the capital

December 01, 2020 // Franchising.com // LONDON - Hyatt announced today that a Hyatt affiliate has entered into a management agreement with an affiliate of Olympus Property Holding Limited to develop a new Hyatt Regency hotel in London. The 196-room hotel is slated to open in 2024 and will mark the eighth Hyatt-branded property and the second Hyatt Regency hotel in London. Hyatt Regency London Olympia will add to the current portfolio of Hyatt Regency hotels in the United Kingdom, joining Hyatt Regency Birmingham, Hyatt Regency Manchester and Hyatt Regency London – The Churchill.

Hyatt Regency London Olympia will deliver the personalized and energizing guest experiences as well as the stress-free environment that embodies the Hyatt Regency brand ethos. Business and leisure travelers alike will enjoy seamless, intuitive service alongside memorable dining experiences as well as flexible spaces to work, collaborate or relax.

“We are delighted to join forces with Olympus Property Holding Limited to be part of the exciting redevelopment of the Olympia exhibition center and bring the Hyatt Regency brand to life in this incredible new quarter of London,” said Felicity Black-Roberts, vice president of development Europe, Hyatt. “Expanding Hyatt’s brand footprint with these plans to add a second Hyatt Regency hotel in London contributes to our ambitious growth strategy for the U.K. and our embodies our focus on thoughtful growth in places that matter most to our guests, World of Hyatt members and customers. With its reputation as a place for people to connect, the Hyatt Regency brand will fit perfectly in this new development.”

Hyatt Regency London Olympia will be part of a new development that will see Olympia, London’s historic convention center built in 1873, redeveloped and transformed into an integrated convention, entertainment, and cultural district in West London. This redevelopment will include upgrades to the Olympia tube and rail station, additional bicycle routes and bus connectivity, allowing guests to access London’s Heathrow, Gatwick and City airports in under an hour by public transport.

Anchored by the Grand and National Halls’ iconic glass barrel vaulted roofs, the new 14-acre (56.656 square meter) site is being designed by Heatherwick Studies and Sparcc, and will include the creation of a boutique multi-screen arthouse cinema, a 4,000-person music and performing arts venue, a 1,500 seat theatre, a 2.5 acre rooftop sky garden, as well as restaurants, shops, cafés, hotels and 550.000 square feet (51.096 square meters) of office and co-working space.

Hyatt Regency London Olympia will feature a restaurant and a lobby lounge with bar and market area. For corporate guests, the hotel will offer four meeting rooms and will be directly connected to the London Olympia convention center.

“Having Hyatt on board is a real positive for London and a clear indication of confidence in both the city and this iconic landmark as a destination for culture and creativity,” said Chairman of Olympia Ltd John Hitchcox. “The Olympia redevelopment project will give a real boost to the local economy, bringing in an extra £9m per year in consumer spending to Hammersmith & Fulham, so we are very pleased to be taking another big step towards the realisation of a new vision for this area.”

The new hotel will join Hyatt Regency London – The Churchill, Andaz London Liverpool Street, Hyatt Place West London Hayes, Hyatt Place London Heathrow Airport and Great Scotland Yard Hotel, which is part of The Unbound Collection by Hyatt brand. Further, Hyatt Place London City/East is planned to open in 2021 and Park Hyatt London River Thames is scheduled to open 2022.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

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 Hyatt Regency

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