Denver-Area Hotel to Be Converted to a Hyatt Place Hotel
Award-winning Hyatt Place brand expands its footprint in Denver area to Cherry Creek
CHICAGO--(BUSINESS WIRE)-- Hyatt Hotels Corporation (NYS: H) today announced that a Hyatt affiliate has entered into a franchise agreement with affiliates of DiNapoli Capital Partners and Rockwood Capital for a hotel in the Cherry Creek-Glendale neighborhood of Denver. Following nearly $10 million in property-wide capital improvements, the hotel is expected to reopen this fall as Hyatt Place Denver/Cherry Creek.
Hyatt Place Denver/Cherry Creek will offer:
194 well-appointed guestrooms, all of which will feature a 42-inch HDTV, the plush Hyatt Grand Bed®, a sectional sofa
King guestrooms will feature walk-in showers
Complimentary Wi-Fi access throughout the hotel
A state-of-the-art StayFit@Hyatt fitness center
Complimentary a.m. Kitchen SkilletTM, featuring freshly prepared breakfast sandwiches, a variety of fresh fruits, hot and cold cereal, yogurt, breads, premium coffee and an assortment of juices
3,000 square feet of flexible, high-tech meeting/function space
24/7 Gallery Menu serving made-to-order entrees and appetizers around the clock
Intimate Bakery Café featuring specialty coffees, premium beers, wines and cocktails
Hyatt Place Denver/Cherry Creek will be the third hotel in the Denver area for the Hyatt Place brand, which was ranked the No. 1 Select Service Brand by Business Travel News in the 2012 Hotel Chain Survey. The newest location will offer easy access to downtown Denver, as well as the upscale Cherry Creek area including the popular Cherry Creek Mall and Cherry Creek North retail district. The hotel will also be within walking distance to the Infinity Park and will be less than five miles from the University of Denver and the Denver Botanic Gardens.
"Thanks to the unmatched guest research put into the Hyatt Place brand, guests are responding positively, and we are actively expanding the brand throughout the United States," said Jason Gregorek, vice president, real estate and development, Hyatt Hotels & Resorts. "We are excited to be working with DiNapoli and Rockwood to grow Hyatt Place in this major urban market."
"We are enthusiastic about working with Hyatt on this project and bringing a new, innovative Hyatt Place to the Cherry Creek area," said Matt DiNapoli, president and chief executive officer, DiNapoli Capital Partners. "We look forward to welcoming guests to the hotel this fall and showcasing the Hyatt Place brand's contemporary style and purposeful service."
ABOUT HYATT PLACE
Launched in 2006, Hyatt Place brings to the upscale select service hotel category the authentic hospitality for which Hyatt is known. Inspired by multitasking travelers' 24/7 lifestyle, Hyatt Place combines stylish design and practical amenities with forward-thinking technology and purposeful service. Spacious guestrooms feature multiple areas to work and relax, and include the Cozy Corner; plush Hyatt Grand Bed; and ergonomic work center. Every guestroom is also equipped with a state-of-the-art media center that allows electronic devices to plug directly into the 42-inch, high-definition television, giving guests instant access to the technological amenities they're accustomed to accessing at home or in the office. Hyatt Place hotels also feature complimentary Wi-Fi access, a StayFit@Hyatt fitness center, a coffee and wine bar serving specialty coffees and premium wine and beer, and a Grab 'n Go case stocked with freshly made sandwiches and salads. The 24/7 Gallery Menu offers made-to-order breakfast, lunch and dinner entrées around the clock, in addition to the a.m. Kitchen SkilletTM, a complimentary hot breakfast served daily. Specially trained Hosts are on hand to offer assistance with everything from directions to check-in to a freshly made meal.
Hyatt Place, a brand of Hyatt Hotels Corporation, offers more than 170 locations in the United States, Costa Rica and India. For Hyatt Place information or to make a reservation, call 1-888-HYATT-HP (888-492-8847) or visit www.HyattPlace.com.
About DiNapoli Capital Partners
DiNapoli Capital Partners is a privately held real estate investment firm engaged in the acquisition, development and management of hotels and commercial real estate assets. The firm was established by F. Matthew DiNapoli, a founding principal of the successful Maritz-Wolff Hotel Equity Funds, who has been actively involved in real estate development, investment, and finance for nearly 20 years, with an extensive track record of successful hotel and commercial real estate investments. DiNapoli Capital Partners real estate holdings include Hotels, Apartments, Office buildings and Senior Housing facilities. For more on the firm, visit www.dinapolicapital.com.
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 North America Colorado Illinois
The article Denver-Area Hotel to Be Converted to a Hyatt Place Hotel 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.