CHICAGO--(BUSINESS WIRE)--Apr. 19, 2013--
Hyatt
Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate
has entered into a management agreement with an affiliate of Huayuan
Property Co., Ltd for a Grand Hyatt hotel in Changsha, Hunan Province in
central China.
“Changsha has established itself as a major hub for global business and
entertainment, and we are honored to have the opportunity to bring the
Grand Hyatt brand to such a great city,” said
Mark Hoplamazian
,
president and chief executive officer of Hyatt Hotels Corporation at the
agreement signing in Changsha earlier today. “Throughout our 40 years in
China, we have showed thousands of guests how our associates can meet
and exceed their needs, and we look forward to bringing Hyatt’s
signature authentic hospitality to such a dynamic and historic city.”
Grand Hyatt Changsha will be centrally located in the most prestigious
commercial and business areas along the Xiangjiang River in downtown
Changsha. The hotel will be part of “The Central,” a mega mixed use
complex that will incorporate high-end residential buildings, office
spaces, and luxury shopping facilities. Situated on the upper floors of
an iconic 268-meter-high skyscraper, Grand Hyatt Changsha will enjoy
unobstructed views over the city and the river, and is expected to
become the new landmark of Changsha. The 324-room hotel will feature an
array of restaurants and bars, multi-purpose meeting and banquet
facilities, a fitness center, a pool and a spa, and is expected to
create over 500 new jobs.
“We are very pleased to work with Hyatt on such an exciting and
significant project. We look forward to our collaboration with Hyatt in
further developing the high-end hotel market in Changsha,” said
Ren
Zhiqiang
, Chairman of Huayuan Property Co., Ltd.
For more information, please visit www.hyattdevelopment.com.
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 the 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 House
is changing its
brand identity from Hyatt Summerfield Suites®. Hyatt
Residential Group, Inc., a Hyatt Hotels Corporation
subsidiary, develops, operates, markets or licenses Hyatt
ResidencesTM and Hyatt Residence
ClubTM. As of December 31, 2012, the
Company's worldwide portfolio consisted of 500 properties in 46
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. 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, 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; 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; changes in the competitive environment in our industry
and the markets where we operate; 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 and Resorts
Lillian Zhang, +86 10 5928 1234
lillian.zhang@hyatt.com
or
Hyatt
Hotels Corporation
Siân Martin, +1 312 780 5797
sian.martin@hyatt.com