CHICAGO--(BUSINESS WIRE)--Sep. 19, 2013--
Hyatt
Hotels Corporation (NYSE: H) today announced that an affiliate of
Hyatt has sold the 451-room Hyatt Regency Denver Tech Center to an
affiliate of JMI Realty for approximately $60 million or $133,000 per
key. As part of the sale, Hyatt has also entered into a franchise
agreement with JMI Realty. Davidson Hotels & Resorts will manage the
hotel for JMI Realty under the Hyatt Regency flag.
“This transaction allows Hyatt to retain its brand presence in the
Denver Tech Center area and furthers our capital recycling strategy,
which allows us to continue to achieve strategic growth,” said
Stephen
Haggerty
, global head, real estate and capital strategy for Hyatt. “We
are excited to enter into a relationship with an owner as respected as
JMI Realty, and we believe their planned renovation of the hotel’s
meeting space will help maintain the Hyatt Regency brand’s reputation as
a superior place for meetings and events.”
The recently renovated Hyatt Regency Denver Tech Center is the only
hotel in the Denver Tech Center area to earn the AAA Four Diamond
status. The hotel features more than 30,000 square feet of function
space, the recently opened Root25 Taphouse & Kitchen which highlights
Colorado craft beer, spirits and locally sourced ingredients and Perks
Coffee & Go, a gourmet market offering Starbucks® coffee and
specialty breakfast and lunch items.
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 ResidencesTM
and Hyatt Residence ClubTM. 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.
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 Corporation
Amy Patti, +1 312 780 5620
amy.patti@hyatt.com