CHICAGO--(BUSINESS WIRE)--May 13, 2014--
Hyatt
Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate
has entered into a management agreement with Tavros Investment Holding
for a Hyatt Regency hotel in Almaty, Kazakhstan. Expected to open in
2017, Hyatt Regency Almaty will mark Hyatt’s return to Kazakhstan.
“We are delighted to re-establish a Hyatt brand presence in Kazakhstan,”
said
Peter Norman
, senior vice president, acquisitions and development
for Hyatt – Europe, Africa, and Middle East. “The development of this
hotel represents a significant step for Hyatt as the company continues
to expand its brand footprint in Central Asia.”
Hyatt Regency Almaty will be located in the heart of the city center
between Satpaev Avenue and Esentai River, offering easy access to the
business district, Almaty International Airport and the Kazakhstan Stock
Exchange. The 270-room hotel will sit on a 62,800 square feet (6,800
square meters) site and will include 41 suites, three restaurants and
bars, a spa, and a fitness center. The hotel will also offer more than
16,000 square feet (1,500 square meters) of meeting facilities,
including a 6,450 square foot (600 square meter) ballroom.
“Given the strength and appeal of the Hyatt Regency brand, as well as
the city’s location in one of the key financial centers in Central Asia,
we believe the new hotel will connect both business and leisure
travelers from across the region. Almaty’s growing economy provides an
opportunity to introduce a globally recognized brand that will resonate
with the burgeoning base of business and leisure travelers,” said
President and Chief Executive Officer
Tayfun Doskaya
of Tavros
Investment Holding.
Hyatt Regency Almaty will join more than 145 Hyatt Regency hotels
currently open around the world, including locations in China, India,
Latin America, Europe, the Middle East, and the United States.
About Hyatt Regency
Hyatt Regency hotels are conveniently located in urban, suburban,
airport, convention and resort destinations around the world. Properties
range in size up to 2,000 rooms, feature intimate and large meeting
spaces, and offer a full range of services and dining options tailored
to serve the needs of conventions, business travelers or resort
vacationers. Hyatt Regency hotels enable all guests – whether they are
traveling to work, unwind or gather in celebration – to feel connected,
productive and revitalized. For more information, please visit www.hyattregency.com.
About Tavros
Founded in 2009, Tavros Investment Holding has conducted significant
operations in the real estate development and tourism industry, and has
obtained an increasing rate of growth by the leadership of its founders
Tarik Celalogullari, a Meskhetian Turk, and his partner
Rostislav
Gurevich
, a Russian citizen. The company’s first investment was in
Istanbul in 2009, and signed an agreement for a Hyatt Regency hotel,
which will open in 2014. With a corporate objective of “developing and
building major and distinctive projects,” Tavros Investment Holding has
opened three hotels; Tavros Silk Road Tashkent in Uzbekistan, Tavros
Denizli in Turkey and Tavros Oskemen in Kazakhstan. The company will
open Tavros Samsun Hotel in Turkey in June 2014 and Tavros Kaliningrad
Hotel in Russia in 2015. The company also has a mixed-use project
underway in Krasnodar, Russia, which will be open in 2015. Tarik
Celalogullari and
Rostislav Gurevich
continue to make investments in
different sectors within Turkey, Kazakhstan and Russia. For more
information, please visit www.tavrosholding.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
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you can identify forward-looking statements by the use of words such as
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“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
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make additional updates with respect to those or other forward-looking
statements.

Source: Hyatt Hotels Corporation
Hyatt Hotels & Resorts
Siân Martin
+1 312 780 5797
sian.martin@hyatt.com
or
Hyatt
Hotels & Resorts – EAME
Malene Rydahl
+33 1 53 45 28 38
malene.rydahl@hyatt.com