CHICAGO--(BUSINESS WIRE)--Jun. 3, 2014--
Hyatt
Hotels Corporation (NYSE:H) and Melco Crown (Philippines) Resorts
Corporation (“Melco Crown Philippines”) announced today that a Hyatt
affiliate and Melco Crown Philippines have entered into a management
agreement for Hyatt City of Dreams Manila, which will consist of two
hotel towers and is expected to open in 2014.
Hyatt City of Dreams Manila exterior rendering (Credit: Hyatt)
“We are thrilled to introduce the Hyatt brand to City of Dreams Manila,
in support of Melco Crown Philippines’ strategy to further develop and
enhance the appeal of one of the region’s fastest growing business and
leisure destinations,” said
Ratnesh Verma
, senior vice president, real
estate and development, Asia Pacific, Hyatt Hotels & Resorts. “Hyatt
City of Dreams Manila will represent an important milestone for us as we
look to further build brand loyalty in locations where our guests are
frequently traveling. Through our strong relationship with Melco Crown
Entertainment Limited, Hyatt is able to develop a world-class business
and leisure offering in Manila.”
“Given the strong Hyatt brand name and the hotel’s ideal location, we
believe Hyatt City of Dreams Manila will attract both business and
leisure travelers, as well as meeting and incentive groups, from across
the region,” said
Clarence Chung
, Chairman and President, Melco Crown
Philippines. “We hope the experience at Hyatt City of Dreams Manila will
further elevate Manila as one of the leading leisure, business and
entertainment destinations in Asia.”
Set to feature 365 guestrooms, the hotel will provide an intimate
setting with direct access to three distinctive entertainment venues,
including a family entertainment center, a live performance lounge and a
nightclub that will be situated in an architecturally unique ‘Fortune
Egg’ structure. Additionally, the hotel will offer two food and beverage
areas, a fitness center, VIP lounge, and outdoor swimming pool.
City of Dreams Manila is strategically located in the gateway of
Entertainment City overlooking the Manila Bay area. Boasting easy access
to Manila’s business district, as well as ‘SM Mall of Asia,’ Hyatt City
of Dreams Manila will cater to both business and leisure guests given
its proximity to entertainment, dining and shopping options.
About Melco Crown (Philippines) Resorts Corporation
Melco Crown (Philippines) Resorts Corporation, with its shares listed on
the Philippine Stock Exchange (PSE: MCP), is a subsidiary of Melco Crown
Entertainment (SEHK: 6883; NASDAQ: MPEL). It is currently developing
City of Dreams Manila, a casino, hotel, retail and entertainment
integrated resort in Manila, which is expected to open in 2014 and have
six hotel towers, including the Crown Towers hotel, Nobu Hotel and Hyatt
City of Dreams Manila, numerous specialty restaurants and bars, gaming
facilities, a multi-level car park, as well as three separate
entertainment venues. For more information about Melco Crown
Philippines, please visit www.melco-crown-philippines.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®, Hyatt
House®, Hyatt Zilara™ and
Hyatt
Ziva
™ brand names and have locations on
six continents. Hyatt Residential Group, Inc., a Hyatt
Hotels Corporation subsidiary, develops, operates, markets or
licenses Hyatt Residences® and Hyatt Residence Club®.
As of March 31, 2014, the Company's worldwide portfolio consisted of 554
properties in 47 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.

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Source: Hyatt Hotels Corporation
Hyatt Hotels & Resorts
Siân Martin, +1 312 780 5797
sian.martin@hyatt.com
or
Hyatt
Hotels and Resorts – ASPAC
Lillian Zhang, +852 2768 1234
lillian.zhang@hyatt.com