CHICAGO (October 13, 2010) – Hyatt Hotels Corporation (NYSE: H) today announced expansion plans in China with management agreements for 11 new Hyatt-branded hotels in emerging cities and resort destinations. Including previously announced management agreements, Hyatt has 22 properties under development in China across all of its full service brands, including Andaz.
The 11 executed agreements being announced today are:
Park Hyatt Changbaishan
Hyatt Regency Changbaishan
Hyatt Regency Changchun
Grand Hyatt Dalian
Hyatt Regency Guiyang
Hyatt Regency Jinan
Hyatt Regency Qingdao
Grand Hyatt Sanya Haitang Bay
Grand Hyatt Shenyang
Hyatt Regency Tianjin East
Hyatt Regency Wenzhou
“China is an important gateway market for business and leisure travelers and our development efforts will benefit from Hyatt’s 41-year history here,” said Steve Haggerty, global head of real estate and development for Hyatt Hotels Corporation. “Our presence in gateway cities in China, along with our reputation for innovation in design and food and beverage operations has created strong appreciation for our brands among developers and owners in the region.”
The agreements being announced today complement the properties Hyatt previously announced as being under development in China in important markets and resort areas, including Chengdu, Chongqing, Guangzhou, Hangzhou, Nanjing, Ningbo, Sanya Sunny Bay, Suzhou, Wuxi, and Xuzhou.
Of the 22 properties currently under development in China, four properties – Park Hyatt Ningbo, Hyatt Regency Jinan, Hyatt Regency Guiyang, and Hyatt Regency Qingdao – are slated to open in 2011, with an additional nine properties expected to open in 2012.
The four properties slated to open in 2011 are:
- Park Hyatt Ningbo, a 253-room property, will be located on Dongqian Lake, one of the most scenic destinations in eastern China. About two hours drive from Shanghai, the hotel will feature low-rise buildings, private villas with spa and recreational facilities, meeting and banquet space and specialty restaurants.
- Hyatt Regency Jinan, a 350-room property, will be part of the Wanda Plaza development, located in Shizhong District, one of the two central urban districts in Jinan. The hotel will offer meeting facilities, a spa and fitness center, and food and beverage outlets.
- Hyatt Regency Guiyang, a 364-room property, will form part of the planned Guiyang International Conference and Exhibition Center located within the Jin-Yang New District of Guiyang, the economic and commercial hub of the Guizhou providence in Southwest China. Designed for the business traveler, the hotel will be adjacent to government offices and prime office and commercial space. Amenities will include five food and beverage options, meeting and residential style function space, ballroom, indoor pool, fitness center and spa.
- Hyatt Regency Qingdao, a 450-room property, will be part of a high-end mixed-use development located on the Western end of Old Stone Beach in the Laoshan District of Qingdao, which is in Eastern China. The hotel, tailored to both business and leisure travelers, will enjoy unique ocean views and immediate beach access and will also provide a full range of amenities, including four restaurants and bars, multi-functional meeting space, indoor swimming pool, fitness center and spa.
“Our goal is to increase customer preference for Hyatt by expanding the presence of all of our brands in emerging Chinese cities and resort destinations,” said Nong Xia, senior vice president of real estate and development for Hyatt in China. “One of the drivers of our growth in China is the creation of new urban centers and resort areas where we have the opportunity to establish Hyatt-branded hotels.”
There are currently 17 Hyatt hotels in Greater China, in key markets such as Beijing, Hong Kong, Macau, Shanghai, Shenzhen, and Taipei. There are more Hyatt hotels in China than any other country except the United States. “Our strong portfolio of hotels in China will be enhanced by the new hotels we have under development,” said Haggerty, “and this robust set of new full service hotel projects demonstrates our strategy to drive customer preference for our brands by expanding the number of hotels we have in markets in which we are not represented or are under-represented.”
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 in 45 countries 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 Summerfield Suites® brand names and have locations under development on five continents. Hyatt Vacation Ownership, Inc., a Hyatt Hotels Corporation subsidiary, develops and operates vacation ownership properties under the Hyatt Vacation Club® brand. As of June 30, 2010, the Company’s worldwide portfolio consisted of 445 properties. For more information, please visit www.hyatt.com.
Forward-Looking Statements
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To download the China Properties Fact Sheet, please visit Hyatt's Investor Relations website.
Laurie Cole
Hyatt Hotels & Resorts
312-780-5935
laurie.cole@hyatt.com
Daniella Wu
Hyatt Hotels & Resorts
852-2768-1271
daniella.wu@hyatt.com