CHICAGO--(BUSINESS WIRE)--
Hyatt
Hotels Corporation (NYSE: H) today announced that a wholly-owned
subsidiary has entered into an agreement to purchase the 380-room
Thompson Miami Beach hotel from an affiliate of Geolo Capital. The
transaction is expected to close in late April, and the hotel will be
rebranded as The Confidante upon opening, joining the existing
properties in the recently launched The
Unbound Collection by Hyatt brand.
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“The acquisition of this high-quality hotel allows Hyatt continued
strategic growth in a critical market for both the company and for our
newest brand, The Unbound Collection by Hyatt,” said Stephen Haggerty,
global head, real estate and capital strategy for Hyatt. “We are
thrilled to expand our presence in Miami Beach, a market in which we
have great unmet demand from our guests. The property will have the
freedom to establish and maintain its individuality and distinct
character while benefiting from the operational excellence and
efficiencies that come from being part of Hyatt.”
The Confidante draws inspiration from the notion of being a
trusted friend, providing guests with everything they need for an
uncomplicated and timeless Miami Beach experience. Taking cues from its
mid-century modern design, The Confidante will celebrate its
unique, storied history, as well as its future, with historical details
throughout its spaces, bright colors, whimsical accents, and a relaxed,
elegant vibe.
With deep historical roots in Miami Beach, The Confidante is a
three-towered property that pays homage to the vibrant feeling of the
city in the 1950s. Serving at one time as the tallest modern building in
Miami Beach, The Confidante originally opened as the 18-floor
Lord Tarleton Hotel on Collins Avenue, making headlines and representing
a boom for the city’s economy. In 1955, it reopened as the Crown Hotel
and later was converted into a three-tower apartment building. Since
2014, the property has operated as Thompson Miami Beach hotel.
“The Unbound Collection by Hyatt is all about giving the properties
within this brand the freedom to be extraordinary and providing guests
with the social currency and story-worthy experiences they crave. The
Confidante’s rich history steeped in Miami Beach’s golden era will do
just that,” said Maryam Banikarim, global chief marketing officer for
Hyatt. “It will provide a playful and sophisticated backdrop, much like
a friend’s beach house, where guests can get away and relax while
enjoying the vibrancy and energy of Miami Beach.”
Situated as an oasis in close proximity to South Beach, The Confidante
will feature 30 suites, two restaurants, two heated swimming pools,
direct beach access, a rooftop spa, a full service salon, an
indoor/outdoor fitness experience, in-room dining, a craft cocktail bar,
and a lush tropical garden. It will also house approximately 35,000+
square feet of indoor and outdoor flexible, multi-functional venue space.
The Confidante will join The Unbound Collection by Hyatt, which
has properties around the world, including The Driskill Hotel in Austin,
Texas; the Hôtel du Louvre in Paris, France; the Carmelo Resort & Spa in
Carmelo, Uruguay; and the Coco Palms Resort in Kauai, Hawaii, which is
expected to undergo a revitalization and re-open in spring 2018. As with
all properties in The Unbound Collection by Hyatt, The Confidante
will maintain its distinct character while providing guests and owners
Hyatt’s award-winning customer loyalty program, robust operational and
marketing resources and trusted, quality brand.
For more information about The Unbound Collection by Hyatt, click here.
The term “Hyatt” is used in this release for convenience to refer to
Hyatt Hotels Corporation and/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 Park Hyatt®, Grand Hyatt®, Andaz®, Hyatt Regency®, Hyatt
Centric™, Hyatt®, Hyatt Place®, Hyatt House®, Hyatt Ziva™,
Hyatt Zilara™, Hyatt Residence Club®, Hyatt Residences® and
The Unbound Collection by Hyatt™ brand names and have locations
on six continents. As of December 31, 2015, the Company's worldwide
portfolio consisted of 638 properties in 52 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
expressed or implied by these forward-looking statements. These
statements include statements about Hyatt’s brand strategy and involve
known and unknown risks that are difficult to predict. 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 our actual results,
performance or achievements 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; the 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 the 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; changes in the competitive
environment in our industry, including as a result of industry
consolidation, and the markets where we operate; general volatility of
the capital markets and our ability to access such 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 U.S. Securities and Exchange Commission.
These factors are not necessarily all of the important factors that
could cause our actual results, performance or achievements to differ
materially from those expressed in or implied by any of our
forward-looking statements. 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 undertake no 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