Adaptive re-use project includes redevelopment of an existing 24-story office building connected to Hyatt Regency New Orleans

CHICAGO--(BUSINESS WIRE)-- Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with an affiliate of Waypoint NOLA, LLC for a Hyatt House hotel in New Orleans. The project, an adaptive re-use of an existing 24-story office building, includes the redevelopment and renovation of seven floors located within the building, with the lobby to be located on the 11th floor and the guestrooms on floors 12-17. Additionally, a second-floor sky bridge will connect the building to Hyatt Regency New Orleans, which reopened in 2011 following a $275 million redesign and revitalization.

“It has been inspirational to witness Hyatt Regency New Orleans flourish into an integral component of the city’s hospitality and tourism industries,” said Christopher Robertson , owner and developer of Waypoint NOLA, LLC. “Encouraged by this outstanding success, I am pleased to introduce the Hyatt House brand to this thriving market. We envision multiple impacts for this property including supporting the expanding group sales efforts at Hyatt Regency New Orleans, providing New Orleans with diversity in room product, accommodating extended stay hotels for the city’s advancing medical district, and increasing accessibility to the vibrant sports and entertainment district.”

“We are delighted to be working with Chris Robertson on this project. This opportunity allows us to grow our relationship with a valued Hyatt owner, and to contribute to the ongoing economic success of New Orleans,” said Jason Gregorek , vice president, real estate and development for Hyatt. “This hotel will play an integral role in continuing to attract visitors to the city, and we look forward to introducing the Hyatt House brand to New Orleans.”

Expected to open in 2015, the 194-room, the hotel will be located at Poydras Street and Loyola Avenue, across from the Poydras Street Station streetcar line. Situated in the vibrant sports and entertainment district in downtown New Orleans, the hotel will be adjacent to the Mercedes-Benz Superdome, New Orleans Arena and the new Medical District; and just blocks from the French Quarter, Morial Convention Center and Mississippi Riverfront.

About Hyatt House

Launched in 2012, the Hyatt House brand was designed to welcome residents rather than guests. Inspired by extensive research of guest experiences, Hyatt House hotels are designed to surprise and delight with services, amenities, upscale spaces and a casual, comfortable environment that will remind guests of home. Residentially inspired studios, one- and two-bedroom suites feature contemporary full kitchens, living space with flat panel HDTVs and bedrooms with a plush bed. Complimentary Wi-Fi is available throughout the hotel. A complimentary Morning Spread, full hot breakfast, is served daily as well as a complimentary Evening Social with savory bites, beer and wine. In lieu of the Evening Social, some locations have an H BAR featuring the Sip+Savor menu and full bar. Public spaces include a 24-hour workout room, Guest Market and laundry facilities. A friendly House Host is available to check-in guests, provide directions or help with other needs so guests feel right at home. The brand is committed to helping guests keep their real-life routines rolling while on the road. The Hyatt House brand offers more than 50 locations throughout the United States. To learn more about Hyatt House or to book a reservation visit www.hyatthouse.com.

About Waypoint NOLA, LLC

Waypoint NOLA, LLC is a development firm focused on creating and owning select service and extended stay hotels. Waypoint’s unique proposition and approach, as a development group, is to locate underutilized commercial real estate properties, and provide an avenue for value realization. Led by professionals with extensive development, finance and real estate knowledge and expertise, Waypoint’s team based approach to project development will allow it to find best fit, unique opportunities for each hotel. This experience based approach allows investments to not only rely on pure real estate location, but also on the performance and demand for hospitality in each specific market, as well as the expected future needs due to factors like civic convention center expansions, hospital construction, and growth needs of education institutions.

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, license, own and develop hotels, resorts, branded residences and vacation ownership properties under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt House®, Hyatt Zilara™, Hyatt Ziva ™, Hyatt Residences® and Hyatt Residence Club® brand names and have locations on six continents. As of June 30, 2014, the Company's worldwide portfolio consisted of 563 properties in 48 countries. For more information, please visit www.hyatt.com.

Forward-Looking Statements

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Source: Hyatt Hotels Corporation