Hyatt affiliate, White Lodging form joint venture and announce franchise agreement for Denver’s first dual-branded Hyatt project

CHICAGO--(BUSINESS WIRE)--Oct. 15, 2013-- White Lodging Services and Hyatt Hotels Corporation (NYSE: H) announced the formation of a joint venture to develop Denver’s first dual-branded Hyatt Place/Hyatt House. A Hyatt affiliate and White Lodging will each own 50 percent of the joint venture and White Lodging will operate the hotels under franchise agreements with a Hyatt affiliate.

“We are thrilled to expand upon our strategic relationship with Hyatt and looking forward to breaking ground in November,” said Deno Yiankes , president and CEO of White Lodging’s Investments and Developments division. “This project is yet another example of our continued focus on developing and investing in premium branded hotels in dynamic urban markets that will attract business, convention and leisure travelers alike.”

The Hyatt Place hotel will offer 248 spacious guestrooms and the Hyatt House hotel will offer 113 residentially inspired upscale guestrooms. Each hotel will feature the brands’ signature design and amenities. The hotels will be located in the heart of the city’s business district and just one block from the Colorado Convention Center and Denver’s famed 16^th street entertainment district, and within walking distance to the Pepsi Center and Coors Field .

“Denver has a diverse economy driven by multiple industries, the state capital, higher education and entertainment,” said Steve Haggerty , global head of real estate and capital strategy for Hyatt. “This joint venture allows Hyatt to deepen our relationship with an experienced and well respected hotel owner, and introduce our Hyatt Place and Hyatt House brands to downtown Denver.”

The project, which was announced in April, will be White Lodging’s first newly built Hyatt House hotel, as well as its first dual-branded property under Hyatt brands. Upon opening, it will be White Lodging’s fifth newly constructed, urban Hyatt Place.

Construction of the property is expected to start in November 2013 and is anticipated to open in summer 2015. The stand-alone 21-story building will have 361 hotel rooms at the southeast corner of 14^th Street and Glenarm Place.

“We are in the beginning of an investment boom as a city, and I'm proud of the many cornerstone developments happening in my district,” said Albus Brooks, Denver City Councilman, District 8. “One such development is the Hyatt Place/Hyatt House project. With the creation of over 80 permanent jobs and a positive tax impact of over $3 million, it is important for us to realize that this project is truly an asset to the long-term vitality of the City of Denver. May this serve as a call to action for other people looking to invest in our great city.”

The hotels will be the 10^th and 11^th Hyatt-branded hotels in the Denver area and White Lodging’s 25^th and 26^th managed properties in the state of Colorado, adding to White Lodging’s portfolio that includes premium-branded hotels throughout Denver, Boulder and the surrounding communities.

ABOUT HYATT PLACE

Launched in 2006, Hyatt Place brings to the upscale select service hotel category the authentic hospitality for which Hyatt is known. Inspired by multitasking travelers’ 24/7 lifestyle, Hyatt Place combines stylish design and practical amenities with forward-thinking technology and purposeful service. Spacious guestrooms feature multiple areas to work and relax, and include the Cozy Corner; plush Hyatt Grand Bed; and ergonomic work center. Every guestroom is also equipped with a state-of-the-art media center that allows electronic devices to plug directly into the 42-inch, high-definition television, giving guests instant access to the technological amenities they’re accustomed to accessing at home or in the office. Hyatt Place hotels also feature complimentary Wi-Fi access, a StayFit@Hyatt fitness center, a coffee and wine bar serving specialty coffees and premium wine and beer, and a Grab ’n Go case stocked with freshly made sandwiches and salads. The 24/7 Gallery Menu offers made-to-order breakfast, lunch and dinner entrées around the clock, in addition to the a.m. Kitchen Skillet^TM, a complimentary hot breakfast served daily. Specially trained Hosts are on hand to offer assistance with everything from directions to check-in to a freshly made meal. Hyatt Place, a brand of Hyatt Hotels Corporation, offers more than 170 locations in the United States, Costa Rica and India. For Hyatt Place information or to make a reservation, call 1-888-HYATT-HP (888-492-8847) or visit www.HyattPlace.com.

ABOUT HYATT HOUSE

Launched in 2012, Hyatt House was designed to welcome residents rather than guests. Inspired by extensive research of guest experiences, Hyatt House is designed to surprise and delight with services, amenities, upscale spaces and a casual, comfortable environment that will remind guests of home. Residentially inspired studios, one- and two-bedroom suites feature contemporary full kitchens, living space with flat panel HDTVs and bedrooms with a plush bed. Complimentary Wi-Fi is available throughout the hotel. A complimentary full hot breakfast is served daily as well as a complimentary Evening Social with savory bites, beer and wine at some locations. In lieu of the Evening Social, some locations have an H BAR featuring the Sip+Savor menu and full bar. Public spaces include a 24-hour workout room, Guest Market and laundry facilities. A friendly House Host is available to check-in guests, provide directions or help with other needs to help guests feel at home. The brand is committed to helping guests keep their real-life routines rolling while on the road. Hyatt House recently earned the top spot in the upscale extended stay category in Business Travel News’ 2012 Hotel Chain Survey, based on a survey of corporate travel buyers. Additionally, the brand was named one of the 10 Best Hotel Chains for Families by Parents Magazine. Chosen amongst more than 70 hotels chains, Hyatt House was recognized for its convenient, functional, and family-friendly amenities, with separate parent and child sleeping areas topping the list. Hyatt House, a brand of Hyatt Hotels Corporation, offers more than 50 locations throughout the United States. To learn more about HYATT house or to book a reservation, visit http://www.hyatthouse.com or call 866-XS-HYATT (866-974-9288).

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® brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt Residences^TM and Hyatt Residence Club^TM. As of June 30, 2013, the Company's worldwide portfolio consisted of 524 properties in 46 countries. For more information, please visit www.hyatt.com.

About White Lodging Services Corporation

White Lodging Services Corporation was established in 1985 and is headquartered in Merrillville, Ind. White Lodging is a fully integrated hotel ownership, development and operations company – a recognized leader that has defined and cultivated the ability to achieve consistent, sustainable growth among mid- to large-scale hotels across the country. Its current portfolio consists of more than 168 hotels in 21 states and encompasses representation of the following leading brands: Preferred Hotels, Marriott International, Inc., Hilton Worldwide, Hyatt Global, Starwood Hotels and Resorts, InterContinental Hotel Group and Carlson Hotels Worldwide. For more information about White Lodging, please visit www.whitelodging.com.

Forward-Looking Statements

Certain statements and assumptions in this press release contain or are based upon “forward-looking” information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When we use the words “will,” may,” “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” or similar expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outside of White Lodging’s or Hyatt’s control, which could cause actual results to differ materially from those expressed in or implied by the content of this document. Forward looking statements made in this press release are made only as of the date of their initial publication and neither party undertakes an obligation to publicly update any of these forward looking statements as actual events unfold.

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Source: Hyatt Hotels Corporation

HYATT CONTACT:
Amy Patti, +1-312-780-5620
amy.patti@hyatt.com
or
WHITE LODGING CONTACT:
Kathleen Quilligan, +1-219-472-2861
kathleen.quilligan@whitelodging.com