Hyatt Pursues European Growth with Plans for a New Park Hyatt Hotel in Mallorca
The first Hyatt-branded hotel in Mallorca is expected to open in 2015
CHICAGO--(BUSINESS WIRE)-- Hyatt Hotels Corporation (NYS: H) announced today that a Hyatt affiliate has entered into a management agreement with Cap Vermell Hotel Proyectos y Promociones, S.L., a Spanish real estate development company, for a new Park Hyatt hotel in Mallorca. Park Hyatt Mallorca will be the first Hyatt-branded hotel in Mallorca, an island in the Mediterranean Sea off the eastern coast of Spain.
Scheduled to open in 2015, the 142-room luxury resort hotel will be built in the style of a traditional Mallorquin hilltop village with references to local art and culture. While pursuing a traditional style, the hotel will employ state of the art technologies and facilities that are standard across Hyatt hotels. Hotel amenities will include two restaurants; a lounge bar serving coffee, sandwiches and light snacks; a poolside bar offering seasonal snacks; a separate beach club; more than 13,000 square feet (1,200 sq m) of meeting and event space; and a 13,000 square foot (1,290 sq m) spa and fitness center.
"Mallorca is one of Europe's most beautiful areas, and we believe that Park Hyatt Mallorca will deliver an unprecedented level of luxury and unrivalled hospitality experience to guests," said Peter Norman, Senior Vice President, Real Estate and Development for EAME, Hyatt Hotels & Resorts. "Spain continues to be one of the most popular tourist destinations in the world, and Park Hyatt Mallorca will enable Hyatt to further enhance its visibility in Europe and further pursue its strategy to increase its brand presence in the region and new markets."
"We are pleased to work with Hyatt on the first Hyatt-branded hotel in Mallorca," said Antonio Mir Martinez, Managing Director, Cap Vermell Hotel Proyectos y Promociones, S.L. "Hyatt is known for providing authentic hospitality to its guests, and we believe the hotel's prime location overlooking the Canyamel valley and the Park Hyatt brand will deliver an exceptional hospitality experience to guests visiting Mallorca."
The hotel will overlook the Canyamel valley with views of the sea and the ancient town of Artá. Adjacent to an international standard 18-hole golf course, Park Hyatt Mallorca will also be within walking distance to the historic Coves d'Artá. The hotel is located at the centre of a 61-acre master development, which is owned and being developed by Grupo Cap Vermell, that will include residential properties and a number of high-end luxury villas.
In addition to 30 Park Hyatt hotels open worldwide as of December 31, 2012, more than 20 previously announced Park Hyatt hotels are under development around the world in Cambodia, China, India, Mexico, Portugal, Saudi Arabia, Thailand, and the United States.
For more information, please visit www.hyattdevelopment.com.
About Park Hyatt
Park Hyatt provides discerning, affluent individual business and leisure guests with elegant and luxurious accommodations. Guests of Park Hyatt receive gracious and highly attentive personal service in an intimate and contemporary environment. Located in many of the world's premier destinations, each Park Hyatt is custom designed to combine sophistication with distinctive regional character. Park Hyatt features well-appointed guestrooms, meeting and special event spaces for smaller groups, critically acclaimed art programs and signature restaurants featuring award-winning chefs.
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®and Hyatt HouseTM brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Residence ClubTM. As of December 31, 2012, the Company's worldwide portfolio consisted of 500 properties in 46 countries. For more information, please visit www.hyatt.com.
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 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 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 laws. 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.
KEYWORDS: United States Europe North America Illinois Spain
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