CHICAGO (March 16, 2015) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Rustaveli Property Ltd for a Hyatt Regency hotel in Tbilisi, Republic of Georgia, which is expected to open in 2017.
“We are thrilled to add this landmark property to our portfolio and further expand the number of Hyatt-branded hotels throughout Europe. This project is particularly exciting as it is a conversion of the former Ministry of Justice building, a national architectural heritage monument, into a Hyatt Regency hotel in downtown Tbilisi,” said Peter Norman, senior vice president of development for Hyatt – Europe, Africa and Middle East. “We look forward to bringing the Hyatt Regency brand to the Georgian capital, and to welcoming guests to Hyatt Regency Tbilisi, a hotel that will be designed to cultivate connections and offer memorable dining experiences, stimulating recreational facilities and inspirational meeting services.”
Situated on one of the most prominent streets in the vibrant capital, Rustaveli Avenue, Hyatt Regency Tbilisi will feature 170 guestrooms and suites and more than 8,100 square feet (758 square meters) of meeting space, including a ballroom, as well as four food and beverage outlets and a spa and fitness center.
“We are delighted to be working with Hyatt on this exciting development,” said Roman Pipia of Rustavelli Property Ltd. “It is a great honor to be responsible for the redevelopment of such an iconic building in our capital city, and we look forward to unveiling the hotel upon completion.”
Hyatt Regency Tbilisi will join more than 150 Hyatt Regency hotels around the world, including 29 existing Hyatt Regency hotels throughout Europe, Africa, Middle East, and Southwest Asia, in locations such as Berlin, Delhi, Dubai, London, and Paris.
About Hyatt Regency
The Hyatt Regency brand is an energizing hotel brand that connects travellers to whom and what matters most to them. More than 150 conveniently located Hyatt Regency urban and resort locations in over 30 countries around the world serve as the go-to gathering space for every occasion – from efficient business meetings to memorable family vacations. The brand offers a one-stop experience that puts everything guests need right at their fingertips. Hyatt Regency hotels and resorts offer a full range of services and amenities, including notable culinary experiences; technology-enabled ways to collaborate; the space to work, engage or relax; and expert planners who take care of every detail. For more information visit www.hyattregency.com.
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
About the Owner
Rustaveli Property Ltd. is a special purpose company established for the development of the Hotel, and is part of the Loyal Capital Group, founded by Mr. Roman Pipia, a Georgian businessman. Mr. Pipia’s business interests include Rustavi Azot Limited, the only fertilizer production plant in the South Caucuses region and one of Georgia’s biggest exporters; and FC Dinamo Tbilisi, the premier football club in the country. Rustaveli Property Ltd. has engaged Reardon Smith Architects (UK) as the project architect, AECOM as the project manager, and has selected Lynne Hunt London as the interior designer for the Hotel.
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 develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences and vacation ownership properties, including under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Centric™, Hyatt Regency®, Hyatt Place®, Hyatt House®, Hyatt Zilara™, Hyatt Ziva™, Hyatt Residences® and Hyatt Residence Club® brand names and have locations on six continents. As of December 31, 2014, the Company's worldwide portfolio consisted of 587 properties in 50 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.
For further information:
+1 312 780 5797
Hyatt – Europe, Africa and Middle East
+33 1 53 45 28 38