Hyatt Recognizes Excellence among Owners and Developers with 2013 Awards
Hyatt Recognizes Excellence among Owners and Developers with 2013 Awards
CHICAGO--(BUSINESS WIRE)-- Hyatt Hotels Corporation (NYS: H) honored the top owners and developers of its hotels at its global owners' conference in Orlando, Fla. Hyatt's Executive Chairman of the Board of Directors Tom Pritzker and President and Chief Executive Officer Mark Hoplamazian presented awards to 10 companies.
Left to Right: Hyatt Hotels Corporation President and Chief Executive Officer Mark Hoplamazian, Hersha Hospitality Trust President and Chief Operating Officer Neil Shah, Hyatt Hotels Corporation Executive Chairman of the Board of Directors Tom Pritzker, Hyatt Hotels Corporation Executive Vice President, Group President - Americas Rakesh Sarna (Photo: Business Wire)
"We are privileged to have a strong network of owner relationships around the world," said Hoplamazian. "All of the companies recognized this year have proven to be valued collaborators with a strong history of quality projects. We thank them for their contribution to our company and for their support for our brands, and look forward to continuing to grow together with them in ways that create mutual value."
Hyatt presented the following awards for excellence in hotel development and management:
The Strategic Partner award recognizes a company for its strong culture, performance and operating philosophies, which have resulted in a long-term, multi-brand relationship with Hyatt. Three companies received the 2013 Strategic Partner award:
- Hersha Hospitality Trust - Hyatt continues to value its longstanding relationship with Hersha Hospitality Trust (NYS: HT) . The company is both owner and developer of Hyatt-branded full service and select service hotels, which include Hyatt 48Lex, Hyatt Place Philadelphia/King of Prussia, Hyatt House White Plains, Hyatt House Gaithersburg, Hyatt House Bridgewater, Hyatt House Pleasant Hill/Walnut Creek, Hyatt House Pleasanton/Dublin, and Hyatt House Scottsdale. Hersha is also expected to open its second full service Hyatt-branded hotel - Hyatt Union Square - in New York in late April.
- Saraf Holdings Private Limited - Saraf Holdings Private Limited owns Grand Hyatt Mumbai and Hyatt Place Hampi, the first Hyatt Place hotel to open in India and the second Hyatt Place to open outside of the United States. The company is currently developing Hyatt Regency Ahmedabad, which is expected to open later this year, and Andaz Delhi, which is expected to open in 2014.
- Mori Building Company - Mori Building Company owns Grand Hyatt Tokyo and Park Hyatt Shanghai, and is currently developing a third Hyatt-branded hotel, Andaz Tokyo, which will be the first Andaz-branded hotel in Japan and is expected to open in 2014.
The Developer of the Yearaward recognizes a company for its hotel development in strategic locations and construction quality and efficiency. Two companies received the 2013 Developer of the Year award:
- Concord Hospitality - As an owner and developer of both Hyatt Place and Hyatt Househotels, Concord Hospitality currently manages Hyatt Place Grand Rapids-South, one of the first LEED-certified Hyatt Place hotels, in Wyoming, Mich. and Hyatt House Boulder/ Broomfield in Broomfield, Colo. Concorde will be opening three more Hyatt Househotels in Raleigh, Pittsburgh and Jersey City, as well as a Hyatt Place hotel in Miami.
- Extell Development - As developer of the currently under construction Park Hyatt New York and Hyatt Times Square, Extell has been a major contributor in further expanding Hyatt's brand presence in New York, one of the world's greatest business, financial and cultural centers. Expected to open in 2014, Park Hyatt New York will bring an understated, contemporary sophistication to Manhattan. Hyatt Times Square is slated to open this summer, and will be located in the heart of Manhattan's famed Theater District, offering guests easy access to some of the city's most iconic and popular destinations.
The Best Project award recognizes notable hotel openings in strategic locations. Three hotels were named the 2013 Best Project:
- Hyatt Place Los Angeles/LAX/El Segundo - OTO Development places a strong emphasis on quality, reliability, service, and value, and as owner and developer of Hyatt Place Los Angeles/LAX/El Segundo, the company introduced the next generation Hyatt Place prototype to the Los Angeles market. OTO Development also currently manages Hyatt Place and Hyatt House Fort Lauderdale Airport and Cruise Port, Hyatt Place Herndon/Dulles Airport-East, Hyatt Place Chesapeake/Greenbriar, and Hyatt Place Long Island/East End.
- Hyatt Place San Jose/Pinares - With the opening of this hotel marking the first Hyatt-branded hotel in Costa Rica and the first Hyatt Place hotel outside of the United States, Hotelera Pinares, S. A., a subsidiary of Strategic Hospitality Investments Corporation, helped bring Hyatt's authentic hospitality to a market in which the Hyatt brands were not represented. Hotelera Pinares is also developing Andaz Papagayo, which is expected to open in 2014.
- Hyatt Regency New Orleans - The reopening of Hyatt Regency New Orleans was a significant milestone in New Orleans' post-Katrina revitalization efforts, and the hotel continues to play an important role in the community. Hyatt Regency New Orleans is owned by Poydras Properties Hotel Holdings, a hospitality venture that includes AREA Property Partners, Poydras Hotel Members LLC, and a subsidiary of Hyatt Hotels Corporation.
The Best Conversion award recognizes a company for reconfiguring and transforming an existing property and converting it to a Hyatt-branded hotel.
- Hyatt French Quarter and Hyatt Place New Orleans/Convention Center - HRI Lodging Inc. helped bring the Hyatt and Hyatt Place brands to New Orleans. With its excellent location in the heart of the French Quarter, Hyatt French Quarter underwent an $18 million renovation, which included upgrades to the hotel's 254 guestrooms, as well as the hotel exterior, lobby, landscaping and pool and deck décor. Hyatt Place New Orleans/Convention Center is located across the street from the Ernest N. Morial New Orleans Convention Center, and underwent extensive renovations to meet Hyatt Place's brand standards, which include the Hyatt Grand Bed, a 42" high definition television and an ergonomic work center, among others.
The Renovation Excellence award recognizes a company for reconfiguring and transforming a Hyatt-branded hotel.
- Hyatt Regency Minneapolis - Haberhill is responsible for the hotel's $25 million renovation, which included updates to the guestrooms, suites, public areas, restaurants, meeting space, and building systems.
"Hyatt works with some of the most respected hotel owners and developers in the world," said Jim Chu, senior vice president, franchise and owner relations for Hyatt. "We look forward to continuing the momentum with our owners and developers to strengthen our representation in the full service, select service and extended stay segments in the United States and around the world."
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.
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