First of nine hotels in Brazil to be co-developed by Hyatt and FSA
Group
CHICAGO--(BUSINESS WIRE)--Apr. 25, 2014--
Hyatt Hotels Corporation (NYSE: H) and FSA Group S.A., a Libra Group
company, announced today that a joint venture entity formed by a Hyatt
affiliate and FSA Group has completed the acquisition of a site in São
José do
Rio Preto
, Brazil, and has entered into agreements with FSA
Group to develop a Hyatt Place hotel and with Hyatt affiliates to
provide management services in connection with the operation of the
hotel. This is the first hotel to be announced under the landmark master
development agreement between a Hyatt affiliate and FSA Group for nine
Hyatt Place hotels throughout Brazil. Once completed in mid-2016, Hyatt
Place São José do
Rio Preto
will be the first hotel under the
Hyatt Place brand to open in Brazil.
Hyatt Place São José do
Rio Preto
will be located in the state of São
Paulo, approximately 440 kilometers (273 miles) northwest of the city of
São Paulo. The 150-room hotel will feature an outdoor pool, a lobby
lounge and restaurant, a fitness center, and approximately 400 square
meters (4,306 square feet) of flexible meeting space. The hotel will be
conveniently located adjacent to Iguatemi Shopping and within easy
access to the area’s hospitals and clinics.
Hyatt Place São José do
Rio Preto
will be an integral component of a
mixed-use project known as Iguatemi Shopping, which is currently under
development by Iguatemi Empressa de Shopping Centers S.A., one of
Brazil’s largest retail developers and the owner of many of Brazil’s
highest quality retail malls. The Iguatemi Shopping project is expected
to contain a retail component with approximately 44,000 square meters
(473,612 square feet) of gross leasable area, three luxury residential
towers, two office towers of approximately 10,000 square meters (107,639
square feet) each, and the Hyatt Place hotel. The Iguatemi Shopping
retail stores will open on April 26, 2014.
“We are delighted to be working with FSA Group on the first Hyatt Place
hotel in Brazil. Hyatt Place São José do
Rio Preto
is a critical step
forward in our Brazilian and Latin American growth strategy for Hyatt
Place,” said
Pat McCudden
, senior vice president of real estate and
development, Latin America & Caribbean, Hyatt Hotels & Resorts. “Hyatt
Place hotels recently opened in Mexico, Costa Rica and Puerto Rico and
are seeing strong acceptance of the brand by loyal Hyatt guests, as well
as newcomers to our brand. We believe the Hyatt Place brand will have a
very strong appeal to Brazilian business and leisure travelers with its
high quality accommodations and contemporary style and amenities.”
“This first Hyatt Place hotel is the fruit of our joint venture with
Hyatt, and we couldn’t be more pleased than to debut it at Iguatemi
Shopping,” said
Alejandro Reyser
, chief executive of FSA Group. “Hyatt
Place’s upscale and modern comforts offer a unique concept in the
market, and we are convinced that this will be a very successful hotel.
Hyatt Place São José do
Rio Preto
is wonderfully positioned to maximize
the economic vitality of the area, its location within the state of São
Paulo and the city’s reputation as a commercial and healthcare
destination.”
Hyatt is currently represented in Brazil by Grand Hyatt São Paulo, a
466-room full-service, luxury hotel. Currently under construction is
Grand Hyatt Rio de Janeiro, which is scheduled to open in late 2015 in
Rio de Janeiro’s Barra da Tijuca borough. Hyatt Place São José do
Rio
Preto
will be the third Hyatt-branded hotel in the country.
About Hyatt Place
Launched in 2006, Hyatt Place hotels bring to the upscale select service
hotel category the authentic hospitality for which Hyatt is known.
Inspired by multitasking travelers’ 24/7 lifestyle, Hyatt Place hotels
combine stylish design and practical amenities with a forward-thinking
guest experience and purposeful service. Roomy rooms feature multiple
areas to work and relax, and include the in-room Cozy Corner; plush
Hyatt Grand Bed®; and separate workspace. Guests can also enjoy free
Wi-Fi and remote printing everywhere, 24-hour StayFit Gym, Coffee to
Cocktails Bar offering specialty coffees and a variety of premium beers,
wine and cocktails, and a 24/7 Gallery Market including freshly made
grab n’ go sandwiches and salads and a Bakery Case filled with items
sure to satisfy the sweet tooth. The 24/7 Gallery Menu offers freshly
prepared meals any time day or night, in addition to the free a.m.
Kitchen SkilletTM served daily for guests, featuring hot
breakfast items, fresh fruit and more. The Odds & Ends program also has
guests covered with items they may have forgot and can buy, borrow or
enjoy for free. Specially trained Gallery Hosts 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 180
locations in the United States, Armenia, Costa Rica, India, Mexico,
Puerto Rico and the Netherlands. 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 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 December 31, 2013, the Company's
worldwide portfolio consisted of 548 properties in 48 countries. For
more information, please visit www.hyatt.com.
About FSA
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. For more information
please visit www.fsagrp.com.
About Libra Group
The Libra Group is an international business group with principal
operations in five core sectors: shipping, aviation, real estate,
hospitality and energy. The group, which is owned by the Logothetis
family, comprises 30 subsidiaries operating across five continents.
Libra is distinguished by a combination of traditional values, new ideas
and an agile mindset that allows it to take advantage of opportunities.
For more information please visit www.libra.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
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statements.
Source: Hyatt Hotels Corporation
Hyatt Hotels & Resorts
Aurelia Vasquez, +1 312 780 5873
aurelia.vasquez@hyatt.com
or
FSA
Group
Dolores Arese, +54 11 4129 6200
dolores.arese@fsagrp.com