CHICAGO--(BUSINESS WIRE)--Sep. 23, 2013--
Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today
summarized previously announced asset sales. Since May, the Company sold
six owned full-service hotels for a total gross sales price of
approximately $433 million. These asset sales complete the marketing
process for six hotels that the Company began earlier this year and are
consistent with the Company’s asset recycling strategy – selling certain
hotels, maintaining presence in respective markets by entering into new
management or franchise agreements, and re-investing sale proceeds into
new hotels and other growth opportunities.
The six hotels are as follows:
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Hyatt Fisherman’s Wharf, 313 rooms
-
Hyatt Santa Barbara, 195 rooms
-
Hyatt Regency Denver Tech Center, 451 rooms
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Andaz Napa, 141 rooms
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Andaz Savannah, 151 rooms
-
Hyatt Regency Santa Clara, 501 rooms
The total gross sales price reflects an approximate 5%
trailing-twelve-month NOI capitalization rate or a greater than 15x
trailing-twelve-month EBITDA multiple. Hyatt entered into new management
or franchise agreements for each hotel. The new owners of the hotels
have agreed to invest over $20 million on capital expenditures in total.
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
Investor Contact:
Atish Shah,
312 780 5427
atish.shah@hyatt.com