Hyatt announces signing of management agreements for hotels in Paris,
Cannes and Nice; locations include iconic and historic buildings dating
back to 1855
CHICAGO--(BUSINESS WIRE)--Feb. 1, 2013--
Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt
affiliate has signed management agreements with affiliates of
Constellation Hotels Holding Ltd., adding four hotels in France and more
than doubling the number of Hyatt locations in the country.
The agreements will enable Hyatt to establish and enhance brand
representation in highly visible locations in some of Europe’s key
high-barrier-to-entry markets, consistent with the company’s strategy of
increasing the long-term presence of its brands in gateway cities.
The hotels, which will be converted to Hyatt brands beginning in April
2013, will add more than 1,700 rooms to Hyatt’s existing hotel portfolio
in France, which includes
Park
Hyatt Paris Vendome
,
Hyatt
Paris Madeleine
and Hyatt
Regency Paris Charles de Gaulle. The hotels will be rebranded as
follows:
-
Hotel Martinez will be rebranded Grand Hyatt Cannes Hotel Martinez
-
Palais de la Mediterranée Hotel and Casino will be rebranded Hyatt
Regency Nice Palais de la Mediterranée
-
Concorde Lafayette will be rebranded Hyatt Regency Paris Etoile
-
Hotel du Louvre will enter the Hyatt brand family with its identity
intact and will be marketed initially as Hotel du Louvre. Following a
renovation, the hotel is to become an Andaz.
Each of the four hotels will undergo a renovation. All hotels can be
booked via Hyatt’s reservation systems beginning in April.
The hotels are based in some of France’s most sought-after locations,
from the most prestigious tourist destinations and commercial districts
in Paris to the exclusive Boulevard de la Croisette in Cannes and the
Promenade des Anglais in Nice.
Peter Fulton
, Group President, EAME/Southwest Asia for Hyatt, commented:
“We continue to grow in a thoughtful way, focusing on the key
destinations where Hyatt guests are traveling. Paris and Cannes are
France’s two most important cities for business and leisure travel, and
Nice is one of the most in-demand resort areas in the world.
“We look forward to becoming good stewards of these hotels, each of
which has a proud and long-established cultural heritage. With the
strength of our service culture, the relevance of our brands to today’s
global travelers, the depth of our operational expertise, and the reach
of our reservation systems and loyal guest network, we believe Hyatt
will bring great value to these hotels, to their new owners and to our
new associates.”
Peter Norman
, Senior Vice President, Real Estate and Development, EAME
for Hyatt, said: “There is significant demand for our brands in Europe,
and we are delighted to expand our representation in these
high-barrier-to-entry markets with a single transaction. These
destinations have consistently high demand – according to the Paris
Convention and Visitors office, Paris alone is the largest hotel market
in Continental Europe – which gives us a fantastic opportunity to
increase awareness of all Hyatt has to offer.”
Zaki El Guiziri, Co-Chief Executive Officer, Constellation Hotels
Holding Ltd., said: “Hyatt has a reputation for excellence around the
world and we believe their expertise and brand reputation will add
significant value to an already impressive collection of hotels. We are
looking forward to executing significant renovation work at the hotels
in order to maintain their historical position as world-class
properties.”
Hotel Overview
Hyatt Regency Paris Etoile (Concorde Lafayette)
Easily accessible from all of Paris’ major tourist and business
districts, Concorde Lafayette is the only hotel with direct access to
Palais des Congrès – the largest conference venue in Europe – and hosts
approximately 120 conferences per year. The hotel offers 950 guestrooms,
including 21 suites, and features a concierge club, two bars, two
restaurants and 37,000 square feet of conference space. Hyatt Regency
Paris Etoile will offer a full range of services and dining options to
business and leisure travelers.
Grand Hyatt Cannes Hotel Martinez (Hotel Martinez)
Situated in a prime location on the exclusive Boulevard de la Croisette,
overlooking the Bay of Cannes and the Mediterranean Sea, Hotel Martinez
benefits from Cannes’ status as France’s second most important city for
business tourism and is one of the prime destinations for exhibitions
and conventions. The hotel consists of 409 guestrooms, including 27
suites, and features a private beach and the only 2-star Michelin
gastronomic restaurant in Cannes. With nearly 27,000 square feet of
conference space, it is one of the city’s largest conference facilities.
Grand Hyatt Cannes Hotel Martinez will provide sophisticated, upscale
accommodations to business and leisure travelers.
Hyatt Regency Nice Palais de la Mediterranée (Palais de la
Mediterranée Hotel and Casino)
The hotel boasts an excellent location in the city center and prominent
beach frontage. Palais de la Mediterranée Hotel and Casino consists of
188 guestrooms, including 12 suites, many of which have individual
terraces with unobstructed views of the sea. It also offers extensive
conference and banqueting facilities totaling 20,000 square feet. Hyatt
Regency Nice Palais de la Mediterranée will offer a full range of
services and dining options to business and leisure travelers.
Hotel du Louvre
Centrally located in one of the most sought-after tourist and commercial
districts in Paris, this highly visible historic building is well served
by restaurants, high-end shops and art galleries. Following a
two-to-three year renovation, the hotel is to become an Andaz.
For more information, please see the related presentation, which can be
accessed by selecting ‘Presentations’ on the News & Events section on
Hyatt’s Investor Relations website, www.investors.hyatt.com.
Note to Editors
Images are available; please contact
Amy Patti
at Amy.Patti@hyatt.com.
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 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 September 30, 2012, the Company's worldwide portfolio consisted of
496 properties in 45 countries. For more information, please visit www.hyatt.com.
About Constellation Hotels Holding Ltd.
Constellation is a Luxembourg-based holding company, whose main focus is
the long-term investment and development of real estate and hotels
across the globe. Constellation currently holds a portfolio of five-star
hotels and office buildings in the main European capitals.
FORWARD LOOKING STATEMENT
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,
financial performance, prospects or future events and involve known and
unknown risks that are difficult to predict. As a result, 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,
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
terrorist attacks, or fear of hostilities that affect travel;
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labor law; the financial condition of, and our relationships with,
third-party property owners, franchisees and hospitality venture
partners; 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; risk associated with potential
acquisitions and dispositions and the introduction of new brand
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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
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
CONTACT FOR EUROPEAN MEDIA:
Malene
Rydahl
+33 1 53 45 2838
Malene.Rydahl@hyatt.com
CONTACT
FOR U.S. MEDIA:
Amy Patti
+1 312 780 5620
Amy.Patti@hyatt.com