CHICAGO--(BUSINESS WIRE)--
Hyatt
Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate
has entered into a management agreement with Chip Mong Group for
a Hyatt
Regency hotel in Cambodia’s capital, Phnom Penh. Expected to open in
2020, Hyatt Regency Phnom Penh will mark the first Hyatt Regency hotel
in Cambodia, and will add to Hyatt’s growing footprint in Southeast Asia.
“We are delighted to bring the Hyatt Regency brand to Phnom Penh and
Cambodia, and we are honored to begin our relationship with Chip Mong
Group,” said David Udell, group president – Asia Pacific, Hyatt Hotels
Corporation. “As Phnom Penh continues to become known as a destination
for art, culture, tourism and business, we are confident that the
globally recognized Hyatt Regency brand will resonate with business and
leisure travelers visiting the country. Furthermore, we believe the
hotel will play a vital role in the city’s development and will become a
landmark in the city and a dynamic member of the local community.”
Hyatt Regency Phnom Penh will deliver on the modern expectations of
today’s travelers and meeting planners. The 250-room hotel will feature
authentic food and beverage offerings and will serve as the perfect
venue for a variety of events such as weddings, social banquets,
exhibitions, meetings, and conferences. Additionally, the hotel will
offer a fitness center, spa and a rooftop swimming pool and bar,
featuring views of the Royal Palace and the Mekong and Tonlé Sap Rivers.
Hyatt Regency Phnom Penh will be located directly across from many of
the city’s most popular tourist attractions, including the National
Museum and the Royal Palace, as well as cafés, restaurants and art
galleries in the area.
For more information about Hyatt Regency hotels, please visit www.hyattregency.com.
Hyatt Regency
The Hyatt Regency brand prides itself on connecting travelers to who and
what matters most to them. More than 168 conveniently located Hyatt
Regency urban and resort locations in over 30 countries around the world
serve as the go-to gathering space for every occasion – from efficient
business meetings to memorable family vacations. The brand offers a
one-stop experience that puts everything guests need right at their
fingertips. Hyatt Regency hotels and resorts offer a full range of
services and amenities, including notable culinary experiences;
technology-enabled ways to collaborate; the space to work, engage or
relax; and expert planners who can take care of every detail. For more
information, please visit www.hyattregency.com.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global
hospitality company with a portfolio of 12 premier brands and 667
properties in 54 countries, as of June 30, 2016. The Company's purpose
to care for people so they can be their best informs its business
decisions and growth strategy and is intended to create value for
shareholders, build relationships with guests and attract the best
colleagues in the industry. 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 Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®,
Andaz®, Hyatt Centric™, The Unbound Collection by Hyatt™, Hyatt Place®,
Hyatt House®, Hyatt Ziva™, Hyatt Zilara™ and Hyatt
Residence Club® brand names and have locations on six
continents. For more information, please visit www.hyatt.com.
About Chip Mong Group
Chip Mong Group Limited is a leading conglomerate in Cambodia with a
diverse portfolio ranging from the manufacturing of construction
materials, property development as well as the production of beverage
and consumer products. To meet the growing demands of the market, the
Group operates assets including cement, concrete and rooftile plants as
well as a brewery equipped with state-of-the-art German technology.
Chip Mong Group is the majority shareholder of Ching Mong Insee Cement
Corporation, the largest cement manufacturer in Cambodia. This newly
established joint venture between Chip Mong Group and Siam City Cement
Public Company Limited in Thailand supplies premium cement products for
projects around the country.
Chip Mong Group also owns Khmer Brewery Limited, the largest beverage
manufacturer in the country. Khmer Brewery Limited produces a diverse
variety of beverage products including beer, soft drinks and energy
drinks for the Cambodian market. The Group formed a can manufacturing
joint venture with Singapore-based Crown Asia Pacific Holdings Limited
to cater to the needs of the brewery.
Chip Mong Land, a prominent and renowned real-estate developer under the
Group, offers a wide variety of luxury properties to meet the needs of
premium consumers.
For more information, visit www.chipmonggroup.com
or www.chipmongland.com
or www.chipmonginsee.com
or www.khmerbrewery.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. These statements
include statements about our plans, strategies, occupancy and ADR
trends, market share, the number of properties we expect to open in the
future, our expected adjusted SG&A expense, our estimated comparable
systemwide RevPAR growth, maintenance and enhancement to existing
properties capital expenditures, investments in new properties capital
expenditures, depreciation and amortization expense and interest expense
estimates, financial performance, prospects or future events and involve
known and unknown risks that are difficult to predict. As a result, our
actual results, performance or achievements may differ materially from
those expressed or implied by these forward-looking statements. In some
cases, you can identify forward-looking statements by the use of words
such as "may," "could," "expect," "intend," "plan," "seek,"
"anticipate," "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,
general economic uncertainty in key global markets and a worsening of
global economic conditions or low levels of economic growth; the rate
and the 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; limited
visibility with respect to future bookings; loss of key personnel;
hostilities, or fear of hostilities, including future terrorist attacks,
that affect travel; travel-related accidents; natural or man-made
disasters such as earthquakes, tsunamis, tornadoes, hurricanes, floods,
oil spills, nuclear incidents and global outbreaks of pandemics or
contagious diseases or fear of such outbreaks; our ability to
successfully achieve certain levels of operating profits at hotels that
have performance guarantees in favor of our third party owners; the
impact of hotel renovations; our ability to successfully execute our
common stock repurchase program; the seasonal and cyclical nature of the
real estate and hospitality businesses; changes in distribution
arrangements, such as through Internet travel intermediaries; changes in
the tastes and preferences of our customers, including the entry of new
competitors in the lodging business; relationships with colleagues and
labor unions and changes in labor laws; financial condition of, and our
relationships with, third-party property owners, franchisees and
hospitality venture partners; the possible inability of third-party
owners, franchisees or development partners to access capital necessary
to fund current operations or implement our plans for growth; risks
associated with potential acquisitions and dispositions and the
introduction of new brand concepts; the timing of acquisitions and
dispositions; failure to successfully complete proposed transactions
(including the failure to satisfy closing conditions or obtain required
approvals); unforeseen terminations of our management or franchise
agreements; changes in federal, state, local or foreign tax law;
increases in interest rates and operating costs; foreign exchange rate
fluctuations or currency restructurings; lack of acceptance of new
brands or innovation; general volatility of the capital markets and our
ability to access such markets; changes in the competitive environment
in our industry, including as a result of industry consolidation, and
the markets where we operate; cyber incidents and information technology
failures; outcomes of legal or administrative proceedings; violations of
regulations or laws related to our franchising business; 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 only as of the date of
this press release. We do not undertake or assume any obligation to
update publicly any of these forward-looking statements to reflect
actual results, new information or future events, changes in assumptions
or changes in other factors affecting forward-looking statements, except
to the extent required by applicable law. If we update one or more
forward-looking statements, no inference should be drawn that we will
make additional updates with respect to those or other forward-looking
statements.

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Source: Hyatt Hotels Corporation