CHICAGO--(BUSINESS WIRE)--Nov. 20, 2012--
Hyatt
Hotels Corporation (NYSE: H) announced today that an affiliate of
the company has formed a joint venture with an affiliate of Host Hotels
& Resorts, Inc. to develop and operate a 131-unit Hyatt Residence Club
resort in Maui, Hawaii on Ka’anapali Beach. A Hyatt affiliate will
invest approximately $40 million in the vacation ownership property.
Expected to open in 2014, Hyatt Ka’anapali Beach, a Hyatt Residence Club
will be the first Hyatt Residence Club property in Hawaii, and will
join 15 other Hyatt
Residence Clubs throughout the United States and Puerto Rico.
“The development of Hyatt Ka’anapali Beach, a Hyatt Residence Club
presents a remarkable opportunity to expand the Hyatt Residence Club
system to include one of the most desirable vacation ownership
destinations,” said
John Burlingame
, global head of residential
development for Hyatt Hotels & Resorts. “Ka’anapali Beach is one of
Hawaii’s most beautiful areas, and we believe that Hyatt Ka’anapali
Beach, a Hyatt Residence Club will be a highly sought after addition to
the Hyatt Residence Club system. Host Hotels and Resorts is a
best-in-class owner, and we look forward to building upon our already
long term relationship with the company.”
Located along Maui’s western shore on Ka’anapali Beach, Hyatt Ka’anapali
Beach, a Hyatt Residence Club will offer 131 units, including 19
one-bedroom units, 100 two-bedroom units, and 12 three-bedroom units.
Additional features will include an 8,000 sq ft (743 sq m) open-air
lobby, a retail store, a 75-seat casual dining restaurant, a pool with a
pool bar and a multi-level pool deck, and a 3,300 sq ft (306 sq m)
fitness center. Hyatt Ka’anapali Beach, a Hyatt Residence Club will be
located near Hyatt
Regency Maui, an 806-room destination resort surrounded by 40 acres
of beachfront landscape.
Hyatt Residence Club provides vacation ownership opportunities in
regionally inspired residential-style properties. Hyatt Residence Club
members are automatically entitled to all the privileges of membership
in the Hyatt
Gold Passport® frequent guest program, as well as access to the Interval
International network of more than 2,600 resorts worldwide; Gold
Passport points earned at Hyatt Residence Club properties are also
accepted at all Hyatt-branded hotels worldwide. Additionally, members of
the Hyatt Residence Club can convert their ownership to points and stay
at any location in the Hyatt Residence Club system, all offering the
world-class, authentic hospitality for which Hyatt is known.
Hyatt Residence Club properties include:
-
Hyatt Pinon Pointe
- Sedona, Ariz.
-
Highlands Inn - Carmel, Calif.
-
Northstar Lodge - Truckee, Calif.
-
Hyatt Grand Aspen
- Aspen, Colo.
-
Hyatt Mountain Lodge - Avon, Colo.
-
Residences at Park Hyatt Beaver Creek - Avon, Colo.
-
Hyatt Main Street Station - Breckenridge, Colo.
-
Hyatt Siesta Key Beach - Siesta Key, Fla.
-
Hyatt Coconut Plantation - Bonita Springs, Fla.
-
Hyatt Beach House
- Key West, Fla.
-
Hyatt Sunset Harbor - Key West, Fla.
-
Hyatt Windward Pointe - Key West, Fla.
-
Hyatt High Sierra Lodge - Incline Village, Nev.
-
Hyatt Hacienda Del Mar - Dorado, Puerto Rico
-
Hyatt Wild Oak Ranch - San Antonio, Tex.
For more information, please visit www.hyattresidenceclub.com.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading
global hospitality company with a proud heritage of making guests feel
more than welcome. Thousands of members of the Hyatt family strive to
make a difference in the lives of the guests they encounter every day by
providing authentic hospitality. The Company’s subsidiaries manage,
franchise, own and develop hotels and resorts under the Hyatt®,
Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place® and
Hyatt House
TM brand names and
have locations on six continents. Hyatt Residential Group, Inc.,
a Hyatt Hotels Corporation subsidiary, develops, operates,
markets or licenses Hyatt ResidencesTM and
Hyatt Residence ClubTM. As of
September 30, 2012, the Company’s worldwide portfolio consisted of 496
properties in 45 countries. For more information, please visit www.hyatt.com.
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. 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, 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, the rate and 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
short and medium-term group bookings; the impact of hotel renovations;
our ability to successfully execute and implement our organizational
realignment and the costs associated with such organizational
realignment; our ability to successfully execute and implement our
common stock repurchase program; loss of key personnel, including as a
result of our organizational realignment; hostilities, including future
terrorist attacks, or fear of hostilities that affect travel;
travel-related accidents; changes in the tastes and preferences of our
customers; relationships with associates and labor unions and changes in
labor law; the financial condition of, and our relationships with,
third-party property owners, franchisees and hospitality venture
partners; if our third-party owners, franchisees or development partners
are unable to access the capital necessary to fund current operations or
implement our plans for growth; risk associated with potential
acquisitions and dispositions and the introduction of new brand
concepts; changes in the competitive environment in our industry and the
markets where we operate; outcomes of legal proceedings; changes in
federal, state, local or foreign tax law; foreign exchange rate
fluctuations or currency restructurings; general volatility of the
capital markets; our ability to access the capital markets; 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 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 laws. 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 Hotels Corporation
Hyatt Hotels Corporation
Siân Martin
+1 312 780 5797
sian.martin@hyatt.com