CHICAGO (September 5, 2014) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with an affiliate of Boutique Group of Companies for a Hyatt Place hotel in Phuket, Thailand. Expected to open in 2016, Hyatt Place Phuket, Patong will mark the first Hyatt Place hotel in Phuket, Thailand.
“Thailand continues to be an important market for Hyatt, both from a leisure and business travel perspective. Phuket in particular is one of Southeast Asia’s premier leisure destinations, and Hyatt’s expanding resort portfolio is key to creating preference among our guests,” said Ratnesh Verma, senior vice president, real estate and development, Asia Pacific, Hyatt. “Hyatt Place Phuket, Patong will be the company’s first Hyatt Place resort hotel in Southeast Asia, and it is a privilege to work with such an experienced and dynamic owner as the Boutique Group.”
"We are pleased to work with Hyatt on our latest hotel development. Hyatt Place Phuket, Patong will be Boutique’s twelfth real estate development, the ninth hotel development and the company’s first hotel project in Phuket,” said Group Chief Executive Officer Prab Thakral of Boutique Group of Companies.
“We have further plans to expand over the next twelve months by adding another three hotel developments in Phuket to the Boutique portfolio. From Hyatt and Boutique’s combined strength and expertise in hotel development and management, we are confident that Hyatt Place Phuket, Patong will excel and gain loyal guests in the region and will further enhance our real estate portfolio. Furthermore, we look forward to the opportunity to work with Hyatt on other hotel projects in the future."
Hyatt Place Phuket, Patong will feature 161 guestrooms with balconies, a swimming pool, a fitness center, a restaurant and bar, a business center, and more than 2,400 square feet (225 square meters) of flexible, high-tech meeting/function space.
Located in the heart of Phuket, Hyatt Place Phuket, Patong will be nestled on an elevated piece of land on Patong beach. The hotel will be a short walk from the seafront, and will offer panoramic views across the bay. Tucked away from the city center, the hotel will provide guests with a sense of tranquility and also offer easy access to Patong’s entertainment, markets, dining, and shopping.
Hyatt Place Phuket, Patong will join three Hyatt-branded hotels already in operation in Thailand, including Grand Hyatt Erawan Bangkok, Hyatt Regency Hua Hin and Hyatt Regency Phuket Resort. There are also three previously announced hotels under development, including Park Hyatt Bangkok, Hyatt Regency Bangkok, Sukhumvit and Hyatt Place Bangkok, Sukhumvit.
About Hyatt Place
Launched in 2006, the Hyatt Place brand 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 hotels combine style with casual hospitality. Featuring spacious guestrooms with the Cozy Corner, free Wi-Fi, the 24/7 Gallery Menu, Coffee to Cocktails Bar, and free hot breakfast for guests. The Odds & Ends program also has guests covered with items they may have forgot and can buy, borrow or enjoy for free. Specially trained Gallery 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 200 locations in the United States, Armenia, China, Costa Rica, India, Mexico, Puerto Rico, Netherlands, and United Arab Emirates. For Hyatt Place information or to make a reservation, call 1-888-HYATT-HP (888-492-8847) or visit www.HyattPlace.com.
About Boutique Group of Companies
Boutique Group of Companies is a leading property developer in Thailand, focusing on high quality mid-market serviced residences and hotels. The group currently owns multiple hospitality assets under the brands Citadines, Oakwood and Ozo in major Thai cities such as Bangkok and Pattaya. The group intends to further expand its hospitality development platform across Thailand and particularly Phuket. Additionally, Boutique Group of Companies has diversified into the retail development and condominium development sectors with Rain Hill on Sukhumvit 47, an award winning community mall and the development of the 252-unit Treetops Condominium in Pattaya to be completed in 2015. Furthermore, Boutique Group of Companies has recently diversified to quick service restaurant business by partnering with one of Japan’s largest food group to expand Marugame Seimen udon restaurants in Thailand.
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®, Hyatt House®, Hyatt Zilara™ and Hyatt Ziva™ brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt Residences® and Hyatt Residence Club®. As of June 30, 2014, the Company's worldwide portfolio consisted of 563 properties in 48 countries. For more information, please visit www.hyatt.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.
Forward-Looking Statements
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.
CONTACT:
Siân Martin
Hyatt Hotels & Resorts
+1 312 780 5797
sian.martin@hyatt.com
Karen Chung
Hyatt Hotels & Resorts – Asia Pacific
+852 2768 1234
karen.chung@hyatt.com