New Hyatt Centric hotel marks the lifestyle brand’s second location in the Miami area

CHICAGO--(BUSINESS WIRE)-- Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a franchise agreement with Concord Aztec Brickell LLC for Hyatt Centric Brickell Miami, located at 1101 Brickell Ave. in the center of Miami’s thriving financial and business district. Concord Aztec Brickell LLC is a joint venture comprised of Aztec Group and Concord Hospitality, which will manage the hotel. Hyatt Centric Brickell Miami is expected to conclude construction and open in Q3 2017. As with all Hyatt Centric hotels, Hyatt Centric Brickell Miami will place guests in the heart of the action, providing an ideal launch pad to explore downtown Miami and beyond.

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“Miami’s Brickell neighborhood has always been an important financial and business center but is evolving into the type of 24/7 urban destination that is at the heart of our Hyatt Centric brand. Expanding the Hyatt Centric brand presence in Miami is important to our global expansion strategy to be at the center of the destination in primary business and leisure markets around the world,” said David Tarr, senior vice president of real estate and development for the Americas, Hyatt. “Joined by Hyatt Centric South Beach Miami, the new Brickell hotel will provide our guests with another great location from which to explore everything that Miami and Miami Beach have to offer.”

“This will be a very special hotel for Miami,” said Mark Laport, president and CEO, Concord Hospitality. “The location and amenities of Hyatt Centric Brickell Miami will serve business and leisure travelers who desire the authentic hospitality for which Hyatt is known around the world.”

Located off Brickell Avenue, with views to Biscayne Bay, Hyatt Centric Brickell Miami will be part of the mixed-use 83-story Panorama Tower development that, when completed, will be home to the tallest building in Miami and the largest residential building south of New York. The first two floors of Panorama Tower will include more than 50,000 square feet of retail and restaurant space.

Hyatt Centric Brickell Miami will offer 208 guestrooms, in addition to a signature second-floor restaurant and bar serving breakfast, lunch, dinner and 24-hour room service. The hotel will share a full-service spa, fitness center and pool with the building’s residences. All hotel guestrooms and suites will offer the Hyatt Centric brand’s signature amenities such as salon-grade Drybar Buttercup blowdryers, BeeKind eco-friendly bath and body products, Keurig in-room coffee brewing system and JBL Wireless speakers.

With 4,000 square feet of meeting and event space, the hotel will provide business travelers with accessible spaces for group functions, both large and small.

For more information on the Hyatt Centric brand, please visit hyattcentric.com.

For more information on World of Hyatt, please visit hyatt.com/understanding.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

The Hyatt Centric Experience

Hyatt Centric is a brand of full-service lifestyle hotels located in prime destinations. Created for millennial-minded travelers who want to be in the middle of the action, Hyatt Centric hotels are thoughtfully designed to enable exploration and discovery. The lobby lounge is a launch pad providing guests with information about the most sought after food, nightlife and activities the destination has to offer. The bar and restaurant are local hot spots where great conversations, locally inspired food and signature cocktails can be enjoyed. Streamlined modern rooms focus on delivering everything guests want and nothing they don’t, including BeeKind’s environmentally conscious bath products, Bluetooth-enabled electronics and salon-grade blowdryers. A team of colleagues is always available to recommend local hidden gems to launch guests’ discovery of the destination. For more information please visit hyattcentric.com. Follow @HyattCentric on Facebook and Instagram, and tag photos with #HyattCentricExplorer.

About Concord Hospitality Enterprises Company

As an award-winning hotel development, ownership and management company, Concord Hospitality Enterprises Company has spent the last three decades partnering with owners and its investors on more than $2.5 billion in premium branded properties across the United States and Canada. As an operator, both for third party owners and partners, Concord Hospitality instills value from the ground up, developing and managing with a sustainable viewpoint, a focus on quality and a hands-on involvement to ensure long-term profitability. Learn more at concordhotels.com.

Aztec Group

Founded in 1981, Aztec Group, Inc. specializes in facilitating the acquisition, disposition, financing and capital needs of real estate projects for institutional investors, entrepreneurs and commercial developers as well as offshore clients. Aztec has been long-recognized as the premier real estate capital markets intermediary and merchant banking firm in the Southeast, handling more than $10 billion in transactions during the past decade. The company is also considered an innovator, often seeing opportunities for clients before they become apparent in the marketplace. For more information, visit www.aztecgroup.com.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 13 premier brands. As of December 31, 2016, the Company's portfolio included 698 properties in 56 countries. 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®, Miraval®, 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 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. 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