CHICAGO--(BUSINESS WIRE)--Jul. 30, 2013--
Hyatt
Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate
has entered into a franchise agreement with Integrated Clark Monroe, LLC
for Hyatt Chicago The Loop, a hotel to be located at 100 West Monroe
Street in Chicago’s central business district. The project will be
developed by Integrated Clark Monroe, which is led by
John T. Murphy
.
Construction is expected to commence in late 2013, and Hyatt Chicago The
Loop is slated to open in 2015.
“Chicago is a world-class city and key business and leisure destination,
and while we have Hyatt-branded hotels throughout the city, Hyatt
Chicago The Loop will add a wonderful new option for travelers visiting
the heart of the city’s business and financial district,” said
Mark
Chase
, vice president, real estate and development for Hyatt Hotels &
Resorts.
“This is a very special hotel for Chicago,” said
John T. Murphy
,
managing principal of Integrated Clark Monroe. “Its location and
amenities will serve both business travelers and families that desire
the authentic hospitality for which Hyatt is known around the world.”
Located at the northwest corner of South Clark Street and West Monroe
Street, Hyatt Chicago The Loop is being developed as an adaptive reuse
of a former 22-story office building. The hotel will be an ideal base
for business and leisure travelers visiting the Loop, as it will offer
convenient access to many national and regional companies, including
Hyatt’s corporate headquarters, as well as many cultural attractions,
including the Art Institute of Chicago, Millennium Park and Grant Park.
Hyatt Chicago The Loop will offer 257 guestrooms, including 38 suites,
in addition to a three-meal restaurant and bar, a rooftop bar and
lounge, a coffee and sundries outlet, and a fitness center. With eight
meeting rooms totaling more than 5,000 square feet, the hotel will
provide business travelers with accessible spaces for meetings and
events.
Hyatt Chicago The Loop will join five Chicago hotels, including Park
Hyatt Chicago, Hyatt Regency Chicago, Hyatt Regency McCormick Place,
Hyatt Chicago Magnificent Mile, and the newest addition, Hyatt Place
Chicago/
River North
.
As of March 31, 2013, the Company’s executed contract base consisted of
approximately 200 hotels across all brands and regions in which Hyatt
hotels operate. For more information, please visit www.hyattdevelopment.com.
About Hyatt
Hyatt hotels are smaller-sized properties conveniently located in
proximity to diverse business and leisure areas. With hotels typically
ranging from 150 to 350 rooms, Hyatt hotels offer guests the opportunity
to experience our hospitality in a vibrant environment. Customers
include individual business and leisure travelers, and Hyatt hotels can
accommodate smaller scale business meetings and social gatherings.
About Integrated Clark Monroe, LLC
Headquartered in Chicago, Integrated Clark Monroe, LLC is the hotel
development arm of RMI, the developer of the highly successful,
ultra-luxury condominium project, Lincoln Park 2550. Formed by John T.
Murphy, Integrated Clark Monroe’s focus is on the development,
acquisition and redevelopment of strategic hotel assets in Chicago and
various Florida markets.
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
March 31, 2013, the Company's worldwide portfolio consisted of 508
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
Siân Martin
+1 312 780 5797
sian.martin@hyatt.com