CHICAGO (September 9, 2011) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into management agreements with OJSC Nash Dom-Primorye for two new Hyatt hotels in Russia. Hyatt Regency Vladivostok, Golden Horn and Hyatt Vladivostok, Burny, which will be the third and fourth Hyatt-branded hotels in Russia, are under construction and expected to open in advance of the Asia-Pacific Economic Cooperation (APEC) Summit in the fall 2012.
Hyatt Regency Vladivostok, Golden Horn will feature 217 guest rooms and suites, food and beverage outlets, a spa and health club and banqueting and meeting facilities. Located at the Korabelnaya Embankment in the city’s central business district, the property will be situated along Svetlanskaya Street – the city’s “High Street” – with the back of the hotel directly facing the Golden Horn Bay. Guests will be within walking distance of the city’s main government and business buildings as well as its exclusive shore line. Visitors attending the 2012 APEC Summit will have easy accessibility to Russky Island, the event’s main venue.
Hyatt Vladivostok, Burny will boast 218 guest rooms and suites, as well as food and beverage outlets, banquet and meeting facilities, and a spa and fitness annex. The property, which will have a direct view of the Amursky Gulf, will be situated at Cape Burny on the western side of the city and will have quick access to the city’s main thoroughfares.
“Hyatt is thrilled to be a part of the incredible growth of Vladivostok in advance of the 2012 APEC Summit, when government leaders will join together here to discuss economic growth, cooperation, trade and investment in the Asia-Pacific region,” said Peter Norman, Senior Vice President - Acquisitions and Development for Hyatt International (Europe, Africa, Middle East) LLC. “We are delighted to add to our growing portfolio in Russia by becoming the first international hotel brand in Vladivostok.”
Prior to 1992, Vladivostok, home to the Russian Pacific Fleet, was only accessible to Russian nationals. The city, which serves as the political, economic and cultural center of the Primorye Territory, is emerging as a pivotal player in Russia’s deepening economic ties with Asia Pacific counties – with many national and international companies in or nearby the city. Surrounded by the Sea of Japan, Vladivostok is one of the main harbors and trading getaways of Russia’s Far East, and serves as the start and end point on the Trans-Siberian Railway.
“A year from now, APEC Summit 2012 delegations will be staying in world class hotels in Vladivostok,” said OJSC Nash Dom – Primorye General Director, Mrs. M.A. Lomakina. “The decision to build these world-class hotels was made in 2009 and OJSC Nash Dom – Primorye has responsibility for this important project. The Hyatt Regency Vladivostok, Golden Horn complex will become a business centre and Hyatt Vladivostok, Burny will become a destination for leisure and relaxation. The Hotels will provide about 700 new jobs for Primorye citizens.”
The two properties in Vladivostok represent the ongoing expansion of Hyatt-branded hotels around the world. Hyatt Regency is an upscale brand of full-service hotels specializing in large meetings and conventions and Hyatt hotels are full-service, upscale hotels designed with the individual traveler in mind. Currently, there are more than 140 Hyatt Regency hotels in operation globally, with more than 25 hotels under development in the China, India, Latin America, the United States, Saudi Arabia, and Vietnam.
Hyatt-branded hotels in Russia include Ararat Park Hyatt Moscow and Hyatt Regency Ekaterinburg, with Hyatt Regency Sochi under development and slated to open in 2013.
About OJSC Nash Dom-Primorye
OJSC Nash Dom – Primorye, a state-owned company, was established in 2002. In 2009, the company was appointed to manage the construction of 5-star hotel complexes in Vladivostok in preparation for the 2012 APEC Summit. The company also provides mortgage services and is a mortgage lender in Primorsky Region.
For further information:
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 June 30, 2011, the Company’s worldwide portfolio consisted of 456 properties in 44 countries. For more information, please visit www.hyatt.com.
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. These statements include statements about our plans, strategies, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, 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 the recent economic downturn; levels of spending in business and leisure segments as well as consumer confidence; declines in occupancy and average daily rate; hostilities, including future terrorist attacks, or fear of hostilities that affect travel; travel-related accidents; changes in the tastes and preferences of our customers; relationships with associates and labor unions and changes in labor law; the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners; risk associated with potential acquisitions and dispositions and the introduction of new brand concepts; changes in the competitive environment in our industry and the markets where we operate; outcomes of legal proceedings; changes in federal, state, local or foreign tax law; fluctuations in currency exchange rates; general volatility of the capital markets and our ability to access the capital markets. A more complete description of these risks and uncertainties can be found in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K. 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.
# # #
Hyatt Hotels Corporation
Hyatt Hotels & Resorts
Litvinova Elizaveta Georgievna
OJSC Nash Dom – Primorye manager
+8 (423) 2 607-254