CHICAGO--(BUSINESS WIRE)--Nov. 6, 2012--
Hyatt
Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate
has purchased the Hyatt
Regency Birmingham hotel in the United Kingdom for approximately
USD$43 million.
The hotel has operated as Hyatt Regency Birmingham since its opening in
1990. Through its affiliates, Hyatt was one of the original co-owners,
and since 2002 the hotel has been operated under a third-party
management agreement. Starting in 2013, a Hyatt affiliate plans to
invest approximately USD$10 million to renovate the hotel to strengthen
its position as one of the leading hotels in Birmingham.
One of the best-situated hotels in Birmingham city center, Hyatt Regency
Birmingham is a modern, four-star hotel that enjoys an unrivalled
central location adjacent to Centenary Square. With a bridge link to the
city’s landmark International Convention Centre, it is one of the
leading convention hotels not just in Birmingham, but in the United
Kingdom, regularly hosting such events as the annual conferences of the
major political parties. It is also across the road from Birmingham’s
Symphony Hall, and is just minutes from the National Indoor Arena (NIA)
and the exclusive Mailbox and Bull Ring shopping centers. Occupying the
entirety of a 24-story, glass-fronted building, the hotel dominates the
skyline of central Birmingham.
“The team at the hotel is delighted at the news that a Hyatt affiliate
has purchased the hotel, and as one of the most popular hotels in the
city amongst both business and leisure guests, we have a proud history
of hospitality in Birmingham and look forward to the exciting times
ahead,” said
Tim Flodin
, General Manager, Hyatt Regency Birmingham. “At
Hyatt Regency Birmingham, we are committed to supporting the local
community, working closely with surrounding businesses, colleges and
charities, including the Queen Elizabeth Hospital, Stourbridge College,
University College Birmingham and catering college KHCSC.”
“Birmingham is one of the leading business tourism destinations in the
United Kingdom, and Hyatt Regency Birmingham has long been a favorite
choice in the city,” said
Michael Gray
, Area Director, United Kingdom
and Ireland. “Hyatt has successfully provided management services for
the hotel for many years and we are delighted that a Hyatt affiliate is
once again the owner of this hotel, one of our key hotels in the United
Kingdom. We believe that the hotel’s excellent location and full range
of services, event capabilities and dining options will continue to make
this one of the city’s very best places to stay and to hold an event,
and we are very enthused about this investment in the property. Indeed
on top of its existing strengths, we expect that improved transport
links, such as the extended runway at Birmingham Airport and the
high-speed London rail link will no doubt even further increase the
attractiveness of Birmingham as an event destination in the future. We
are also very enthusiastic about this because of Hyatt’s long and proud
history in the UK.”
The hotel’s 319
luxury rooms and suites, including the exclusive Presidential
Suite, all have floor-to-ceiling windows that command breath-taking
views of the canal network or the city. For leisure, guests can
visit the just-refurbished Amala
Spa & Club for wellness and beauty treatments, the 16-meter indoor
swimming pool and the newly equipped gymnasium.
Hyatt Regency Birmingham is also home to the signature Aria
Restaurant, which serves breakfast, lunch and dinner daily, and
Pravda
Bar
, the perfect place for cocktails, champagne and a large
selection of wines, each of which is earmarked for further enhancement
as part of the planned renovation. One of the most popular business
hotels in the city, Hyatt Regency Birmingham is an ideal venue for meetings
and conferences, featuring 10 meeting
and event rooms.
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.
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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,
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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
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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
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Source: Hyatt Hotels Corporation
Hyatt Hotels Corporation
Malene Rydahl
+33 1 53 45 28 38
malene.rydahl@hyatt.com
or
Siân
Martin
+1 312 780 5797
sian.martin@hyatt.com