Hyatt Plans a Hyatt Regency Hotel in Tashkent, Uzbekistan
Hyatt Regency Tashkent enhances brand's presence in the Commonwealth of Independent States
CHICAGO--(BUSINESS WIRE)-- Hyatt Hotels Corporation (NYS: H) announced today that a Hyatt affiliate has entered into a management agreement with State Unitary Enterprise (Poytaht Qurilish va Xizmat) for a Hyatt Regency hotel in Tashkent, Uzbekistan. Scheduled to open in January 2015, Hyatt Regency Tashkent will be a significant addition to the brand's presence in the Commonwealth of Independent States (CIS), where Hyatt Regency-branded hotels are currently open in Yekaterinburg, Kiev, Baku, Bishkek, and Dushanbe. In addition to Hyatt Regency Tashkent, there are currently five Hyatt-branded hotels under development in the CIS, including Hyatt Regency Sochi, Hyatt Regency Vladivostok Golden Horn, Hyatt Burny Vladivostok, Hyatt Regency Moscow Petrovsky Park, and Hyatt Regency Rostov on Don.
"We are delighted by the plans for the first Hyatt-branded hotel in Uzbekistan," said Peter Norman, senior vice president, real estate and development, EAME for Hyatt Hotels & Resorts. "The CIS is establishing itself as both an international business hub and an attractive tourist destination, and we believe the Hyatt Regency brand and the enviable cosmopolitan location will attract international travelers visiting Tashkent. Today's announcement demonstrates our commitment to growing our brand presence in new markets."
Designed to reflect the rich cultural tradition of Uzbekistan, Hyatt Regency Tashkent will offer 300 spacious guestrooms, including 44 suites, two restaurants, a bar and lounge, more than 1,200 square meters of meeting facilities including a ballroom, and a spa and fitness club. The hotel will be designed to become the preferred venue for the international conferences and festivals for which Tashkent has long become a popular destination. Prominently located next to the National Library on the city's main street, Navoi Street, Hyatt Regency Tashkent will be close to Tashkent's many landmarks, retail outlets and government offices. The hotel will provide an ideal base for business and leisure travelers visiting the city, as well as for those who wish to travel onwards to many of Uzbekistan's famous cultural gems including Samarkand, Bukhara and Khiva.
Hyatt's hotel pipeline is larger than it has ever been, and as of December 31, 2012, it included executed management or franchise contracts for approximately 200 hotels across all brands in all of the regions in which Hyatt hotels operate. For more information, please visit www.hyattdevelopment.com.
About Hyatt Regency
Hyatt Regency offers a full range of services and facilities tailored to serve the needs of meeting planners, business travelers and leisure guests. Properties range in size from 180 to over 2,000 rooms and are conveniently located in urban, suburban, airport, convention and resort destinations around the world. Hyatt Regency convention hotels feature spacious meeting and conference facilities designed to provide a productive environment allowing guests to convene and connect. Hyatt Regency hotels in resort locations cater to couples seeking a getaway, families enjoying a vacation together and corporate groups seeking a functional and relaxed atmosphere in which to conduct business and meetings. www.hyattregency.com
About the State Unitary Enterprise (Poytaht Qurilish va Xizmat)
State Unitary Enterprise ''Poytaht qurilish va xizmat,'' was established under the auspices of the City of Tashkent as a developer and owner of the Hyatt Regency Tashkent project.
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 House®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 March 31, 2013, the Company's worldwide portfolio consisted of 508 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 Uzbekistan Asia Pacific North America Illinois
The article Hyatt Plans a Hyatt Regency Hotel in Tashkent, Uzbekistan originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.