Hyatt Regency Andares Guadalajara expected to open in late 2016
CHICAGO--(BUSINESS WIRE)--Mar. 13, 2014--
Hyatt
Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate
(“Hyatt”) has entered into a joint venture and related agreements with
an affiliate of Desarrolladora Mexicana de Inmuebles, S.A. de C.V.
(“DMI”) for the development and management of a Hyatt Regency hotel in
Guadalajara, Jalisco, Mexico. Hyatt Regency Andares Guadalajara marks
the return of Hyatt to the city after a more than 17-year absence and
will be the fifth Hyatt Regency-branded hotel in Mexico.
Hyatt Regency Andares Guadalajara will be located in the upscale area of
Zapopan in the northwestern section of Guadalajara. The 220-room hotel
is part of the second phase of development for the existing Andares
Shopping Mall, a mixed-use complex that includes a high-end retail
component anchored by
Palacio de Hierro
and Liverpool department stores,
two office towers, and luxury condominiums. Hyatt Regency Andares
Guadalajara will be an integral part of the overall Andares development,
which will also include additional upscale residential units and retail
space as part of its second phase.
“The strength and quality of the Hyatt Regency brand in Mexico is
growing rapidly and we believe that Hyatt Regency Andares Guadalajara
will attract business and leisure travelers from across the country and
abroad,” said Alvaro Leaño, President, DMI. “There is no better time
than now to invest in Guadalajara, Mexico’s second largest commercial
center which has become a business and commerce powerhouse, and we are
delighted to be working with Hyatt and contributing to the economic
vitality of the area with this new hotel.”
Hyatt Regency Andares Guadalajara will feature two restaurants, a
lounge, approximately 29,000 square feet of indoor and outdoor meeting
and event space, spa facilities, a fitness center and an indoor swimming
pool. When complete, the Hyatt Regency Andares Guadalajara will not only
enjoy the benefits of being an integral component the Andares
development, but will also be in close proximity to the region’s medical
centers and the Centro Cultural Universitario which is home to one of
the most important concert venues in Latin America, Auditorio Telmex.
“We are delighted to be working with DMI and to build further on Hyatt’s
strong brand equity and excellent portfolio of hotels in the country.
The Andares complex is an impressive development and Hyatt Regency
Andares Guadalajara will be a fantastic complement to Andares and the
community,” said
Myles McGourty
, Senior Vice President of Latin America
& Caribbean for Hyatt Hotels & Resorts. “Guadalajara is a key center of
travel and commerce, and an important gateway for Hyatt as we continue
to gain representation for our brands in Mexico.”
Expected to open in late 2016, Hyatt Regency Andares Guadalajara will
join four existing Hyatt Regency-branded hotels in Mexico: Hyatt Regency
Mexico City, Hyatt Regency Merida, Hyatt Regency Villahermosa and Hyatt
Regency Cancun. Additionally, previously announced Hyatt-branded hotels
under development in Mexico include Hyatt Ziva Puerto Vallarta, Hyatt
Ziva Cancun,
Park Hyatt Los Cabos
,
Park Hyatt Riviera Maya
, Hyatt Place
La Paz, Hyatt Place Ciudad del Carmen, Hyatt Place Tijuana, Hyatt Playa
in Playa del Carmen and Andaz Mayakoba.
Currently, travelers and Hyatt Gold Passport members have seventeen
Hyatt-branded hotels to choose from in destinations across Latin America
and the Caribbean:
Hyatt’s hotel pipeline is larger than it has ever been, and as of
December 31, 2013, it included executed management or franchise
contracts for approximately 200 hotels across all brands in all of the
regions in which Hyatt hotels operate. For more information, please
visit www.hyattdevelopment.com.
About Hyatt Regency
Hyatt Regency offers a full range of services and facilities tailored to
serve the needs of meeting planners, business travelers and leisure
guests. Properties range in size from 180 to over 2,000 rooms and are
conveniently located in urban, suburban, airport, convention and resort
destinations around the world.
Hyatt Regency convention hotels feature spacious meeting and conference
facilities designed to provide a productive environment allowing guests
to convene and connect. Hyatt Regency hotels in resort locations cater
to couples seeking a getaway, families enjoying a vacation together and
corporate groups seeking a functional and relaxed atmosphere in which to
conduct business and meetings.
About DMI (Desarrolladora Mexicana de Inmuebles, S.A. de C.V.)
DMI is a privately-held Guadalajara-based national investment, business
development and operating company. DMI has invested in, developed and
operates large-scale real estate projects developed for both rental
income generation and for sale. Their real estate activities include
retail, office, residential, hospitality, resort and mixed-use projects,
exemplified by the award-winning Andares mixed-use development in
Guadalajara. DMI principals also have investment and operating interests
in private energy and agro-industrial companies based in Jalisco and
Colima respectively. DMI, its subsidiaries and related companies have
developed real estate and other businesses with institutional-quality
management structures, risk mitigation systems, financial results
orientation, and total asset values which have attracted significant
institutional investor interest. Active real estate program investments
presently involve over 2,000 hectares (about 4,940 acres) of land in
major cities throughout Mexico and, in addition to the Guadalajara
headquarters office, DMI maintains regional offices for real estate and
other key businesses in Colima, Guanajuato, Queretaro and Veracruz.
Founded in 1990, DMI is marking its 24th year anniversary in
2014. For further information on DMI activities please visit www.grupodmi.com.mx
or, for information on the Andares mixed-use project and lifestyle
center, visit www.andares.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 December 31, 2013, the Company's
worldwide portfolio consisted of 548 properties in 48 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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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
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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
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Source: Hyatt Hotels Corporation
Hyatt Hotels & Resorts
Aurelia Vasquez, 312-780-5873
aurelia.vasquez@hyatt.com