Grand
Hyatt Manila
and Residences will be the second Hyatt-branded
hotel in the Philippines
CHICAGO--(BUSINESS WIRE)--Nov. 6, 2012--
Hyatt
Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate
has entered into an agreement with Bonifacio Landmark Realty and
Development Corp. (BLC), a joint-venture company between property
developer Federal Land Inc. and Japanese financial services group ORIX
Corporation, for a Grand Hyatt hotel and Grand Hyatt branded residences
in Manila, Philippines.
Expected to open in 2015, Grand Hyatt Manila and Residences will be part
of a two-tower upscale mixed use project in the residential,
entertainment and business district of Fort Bonifacio Global City in
Metro Manila. Grand
Hyatt Manila
will be located on the top 14 floors of
the 66-story office and hotel tower, and will offer 438 guestrooms.
Additional hotel amenities will include a dramatic and energetic lobby,
multiple food and beverage offerings, a spa, fitness center and pool,
and comprehensive business and meeting facilities with state of the art
technology. The residences will be located in the second tower, and will
offer 220 luxury units with private access to the hotel’s amenities,
including the spa, fitness center and pool and restaurants.
Just recently, the substructure of the Grand Hyatt Manila was topped
off, marking another milestone for the project. Wong + Ouyang and Ove
Arup & Partners are the architect and engineer responsible for the Grand
Hyatt Hotel and Residences; the firms have also worked on several other
Hyatt projects, including Grand Hyatt Shanghai and Grand Hyatt Hong
Kong. Bilkey Llinas Design will design the interiors of the hotel.
“As the political, economic, social, and cultural center of the
Philippines, Manila is attracting entrepreneurs and business owners that
have an appetite for luxury brands and residences,” said
Ratnesh Verma
,
senior vice president of real estate and development, Asia Pacific,
Hyatt Hotels & Resorts. “Grand Hyatt Manila and Residences is a
remarkable opportunity to expand the presence of the iconic Grand Hyatt
brand in this rapidly growing Southeast Asia market.”
“We are honored to work with Bonifacio Landmark Realty and Development
Corporation and to introduce the Grand Hyatt brand to the Philippines,”
said
Larry Tchou
, group president, Asia Pacific, Hyatt Hotels & Resorts.
“We are confident the hotel will deliver a new hospitality experience,
and we look forward to serving the neighborhood community as well as
business and leisure travelers from around the world.”
“This milestone is testament to a fruitful relationship between
companies that share the same vision,” says
Alfred V. Ty
, Chairman of
Bonifacio Landmark and President of Federal Land. “It also symbolizes
the future of a modern Philippines.”
Grand
Hyatt Manila
and Residences will be the center of the
master-planned development Veritown Fort, which will house 11
residential projects, premier dining option and upscale retail spaces
and boutiques. Facing 7th and 8th Avenues, the hotel and residences will
provide guests and residents with convenient access to Kalayaan Avenue
and the business and residential district of Makati. Additionally, the
hotel and residences will be in close proximity to the many restaurants
and retail outlets located in High Street, Serendra, Burgos Circle, the
Fort Square, and Fort Strip, as well as the Ayala Land’s Market! Market!
shopping center.
Upon opening, Grand Hyatt Manila and Residences will be the second
Hyatt-branded hotel in the Philippines joining Hyatt
Hotel & Casino Manila.
About Grand Hyatt
Grand Hyatt features large-scale, distinctive hotels in major gateway
cities and resort destinations. With presence around the world and
critical mass in Asia, Grand Hyatt hotels provide sophisticated global
business and leisure travelers with upscale accommodations. Signature
elements of Grand Hyatt include dramatic architecture, innovative dining
options, state of the art technology, spa and fitness centers, and
comprehensive business and meeting facilities appropriate for corporate
meetings and social gatherings of all sizes.
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 has
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,
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unknown risks that are difficult to predict. As a result, our actual
results, performance or achievements may differ materially from those
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or the negative of these terms or similar expressions. Such
forward-looking statements are necessarily based upon estimates and
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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
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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
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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
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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
or
Karen
Chung
+852 2768 1271
karen.chung@hyatt.com