CHICAGO (May 2, 2011) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate formed a joint venture with White Lodging Services Corporation to construct and own a Hyatt Place hotel in Austin, Texas. A Hyatt affiliate and a White Lodging affiliate will each own 50% of the joint venture and White Lodging will operate the property under a franchise agreement with a Hyatt affiliate.
“We are thrilled to be working with White Lodging on this property,” said Chris Ivy, senior vice president, real estate and development for Hyatt Hotels & Resorts, “This is a great opportunity to expand our relationship with White Lodging.” The number of Hyatt Place locations continues to grow, with more than 160 hotels open in the U.S. and more than 30 under development throughout the U.S., India, the Netherlands, Panama and Costa Rica.
Construction of Hyatt Place Austin Downtown is expected to start in third quarter 2011 and the hotel is anticipated to open in 2013. The stand-alone 14-story building will have 296 hotel rooms and will be located within steps of the Austin Convention center.
There are currently five Hyatt hotels in the Austin area, including Hyatt Regency Austin, Hyatt Regency Lost Pines, Hyatt Place Austin – North Central, Hyatt Place Austin/Arboretum and Hyatt Summerfield Suites Austin/Arboretum, which is operated by White Lodging, as are Hyatt Summerfield Suites Houston/Galleria, and Hyatt Summerfield Suites Colorado Springs. “We are committed to doubling our current managed revenue to $1.5 billion by 2015 and anticipate this expanded relationship with Hyatt to be a major factor in reaching our goal,” said Deno Yiankes, president & CEO, investments and development for White Lodging.
Launched in 2006, Hyatt Place brings to the upscale select-service hotel category the authentic hospitality for which Hyatt is known. Inspired by multitasking travellers’ 24/7 lifestyle, Hyatt Place combines stylish design and practical amenities with forward-thinking technology and purposeful service. Hyatt Place hotels feature complimentary Wi-Fi access, complimentary continental breakfast, 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. Guest Kitchens offer made-to-order breakfast, lunch and dinner entrées around the clock. Specially trained gallery hosts offer assistance with everything from directions to check-in to a freshly made meal.
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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 Summerfield Suites® 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 Vacation Club®, which is changing its name to Hyatt Residence ClubTM. As of December 31, 2010, the company’s worldwide portfolio consisted of 453 properties in 45 countries. For more information, please visit www.hyattdevelopment.com.
About White Lodging Services Corporation
White Lodging Services Corporation was established in 1985 and is headquartered in Merrillville, Indiana. White Lodging is a fully integrated hotel ownership, development, and operations company – a recognized leader that has defined and cultivated the ability to achieve consistent, sustainable growth among mid- to large-scale hotels across the country. Their current portfolio consists of over 155 hotels in 18 states and encompasses representation of the following leading brands: Hyatt Hotels, Marriott International, Inc., Starwood Hotels and Resorts, Hilton Worldwide, InterContinental Hotel Group, and Carlson Hotels Worldwide. For more information about White Lodging, please visit www.whitelodging.com.
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Hyatt Hotels Corporation