Hyatt Place Sorocaba and Hyatt Place Macaé are expected to debut
in 2017
By 2017, the Hyatt Place brand is expected to have three hotels in
southeast Brazil: Hyatt Place São José do Rio Preto, Hyatt Place
Sorocaba and Hyatt Place Macaé
CHICAGO--(BUSINESS WIRE)--
Hyatt
Hotels Corporation (NYSE:H) and FSA Group S.A. announced today that
joint venture entities formed by Hyatt affiliates and FSA Group have
entered into agreements to purchase two sites in Brazil to develop Hyatt
Place Sorocaba and Hyatt Place Macaé. Upon the closing of the site
acquisitions, the joint venture entities will enter into agreements with
FSA Group to manage the design, planning and construction of the hotels
and with Hyatt affiliates to provide management services in connection
with the operation of the hotels upon opening, which is expected in the
first quarter of 2017.
These two hotels are part of a larger master development agreement
between Hyatt affiliates and FSA Group to develop a total of nine Hyatt
Place hotels across Brazil. The first hotel as part of this agreement,
Hyatt Place São José do Rio Preto, was announced in April 2014 and is
expected to open in mid-2016.
Hyatt Place Sorocaba
Located approximately 100 kilometers from the city of Sao Paulo,
Sorocaba is one of the region’s most important industrial cities,
serving as headquarters for numerous multinational companies across
diverse industry sectors. Hyatt Place Sorocaba will be a component of a
mixed-use project known as Iguatemi Esplanada owned by Iguatemi Empresa
de Shopping Centers S.A. (Iguatemi), one of Brazil’s largest retail
developers and the owner of many high-end retail malls throughout
Brazil. The Iguatemi Esplanada completed a large expansion of its retail
component in November 2013, and plans to add two office towers and a
luxury residential component in phases over the next several years. The
176-room Hyatt Place hotel will feature a lobby lounge and restaurant, a
fitness center, and approximately 200 square meters of flexible meeting
space.
Hyatt Place Macaé
Macaé, located approximately 180 kilometers northeast from the city of
Rio de Janeiro, has a large multinational presence and is an economic
center for tourism, fishing and most notably, petroleum as it is the
main center for offshore oil exploration in Brazil. Hyatt Place Macaé
will be located on a beachfront site in the neighborhood of Cavaleiros.
The area boasts a large selection of seafront restaurants and nightlife
entertainment. The 142-room hotel will feature a roof-top pool, a lobby
lounge and restaurant, a fitness center, and approximately 160 square
meters of flexible meeting space. The seller of the site is Praia
Campista Macaé Empreendimentos Imobiliários Ltda, an affiliate of Primus
Realty.
“We are thrilled to be announcing two additional Hyatt Place hotels in
Brazil that will be developed under our master development agreement
with FSA. 2014 has been a milestone year for Hyatt in Brazil, with the
announcement of our plans to introduce the Hyatt Place brand in Brazil,”
said Pat McCudden, senior vice president of real estate and development,
Latin America & Caribbean, Hyatt. “Hyatt’s Brazilian and Latin American
growth strategy for Hyatt Place is very active, supported by the brand’s
upscale and modern style which is appealing to today’s traveler.
Sorocaba and Macaé are attractive destinations with vibrant economies,
and we believe the Hyatt Place hotels will be well-positioned to meet
the needs of business and leisure travelers to these cities.”
“Our relationship with Hyatt is progressing at a dynamic and meaningful
pace and we couldn’t be happier to be announcing these two additional
hotels within six months of our first Hyatt Place hotel announcement,”
said Ary Krivopisk, Brazil CEO of FSA Group. “Hyatt Place is a unique
concept in the market and we are convinced that these new high quality
hotels in Sorocaba, Macaé and São José do Rio Preto will be highly
regarded and popular. We continue to seek new opportunities for growth
and investment throughout the region.”
Hyatt’s Brand Representation and Growth in Brazil
Hyatt is currently represented in Brazil by Grand Hyatt São Paulo, a
466-room full-service, luxury hotel. Currently under construction is the
436-room Grand Hyatt Rio de Janeiro, which is scheduled to open in late
2015 in Rio de Janeiro’s Barra da Tijuca borough.
In September 2014, Hyatt announced Brazil’s first Park Hyatt hotel, Park
Hyatt Foz do Iguaçu, which is expected to open in 2017. In April 2014,
Hyatt Place São José do Rio Preto was the first Hyatt Place hotel to be
announced under the landmark master development agreement between a
Hyatt affiliate and FSA Group for nine Hyatt Place hotels throughout
Brazil. Currently under design and scheduled to begin construction in
December 2014, the 150-room hotel will be the third Hyatt-branded hotel
in the country when it opens in 2016. Hyatt Place São José do Rio Preto
and Hyatt Place Sorocaba are both being developed as part of a strategic
relationship with Iguatemi.
About Hyatt Place
Launched in 2006, the Hyatt Place brand brings to the upscale service
hotel category the authentic hospitality for which Hyatt is known.
Inspired by multitasking travelers' 24/7 lifestyle, Hyatt Place combines
style with casual hospitality. Featuring spacious guestrooms with the
Cozy Corner, Free Wi-Fi everywhere, the 24/7 Gallery Menu, Coffee to
Cocktails Bar, and Free Hot Breakfast for guests. The Odds & Ends
program also has guests covered with items they may have forgotten and
can buy, borrow or enjoy for free. Specially trained Gallery Host are on
hand to offer assistance with everything from directions to check-in to
a freshly made meal.
Hyatt Place, a brand of Hyatt Hotels Corporation, offers more than 200
locations in the United States, Armenia, Chile, China, Costa Rica,
India, Mexico, Panama, Puerto Rico, Netherlands, and United Arab
Emirates. For Hyatt Place information or to make a reservation, call
1-888-HYATT-HP (888-492-8847) or visit www.HyattPlace.com.
The term “Hyatt” is used in this release for convenience to refer to
Hyatt Hotels Corporation or one or more of its affiliates.
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 develop,
own, operate, manage, franchise, license or provide services to hotels,
resorts, branded residences and vacation ownership properties, including
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 September 30, 2014, the
Company's worldwide portfolio consisted of 573 properties in 48
countries. For more information, please visit www.hyatt.com.
About FSA Group
FSA Group identifies and executes strategic long term investments in the
South American continent. Founded in early 2005, FSA Group has developed
in excess of 3 million square feet of prime real estate in the
commercial, residential and hospitality sectors. The company is part of
the Libra Group (www.libra.com),
a diverse international business group operating across five continents
which was created in 2003 and is owned by the Logothetis family. For
more information please visit www.fsagrp.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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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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Source: Hyatt Hotels Corporation