CHICAGO (June 22, 2012) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Bienes y Comercio, S.A. for a Grand Hyatt hotel in Bogota, Colombia. Owned and constructed by Organización Luis Carlos Sarmiento Angulo, the hotel will be an integral part of the Ciudad Empresarial mixed use project, which occupies a prime location in the area of Ciudad Salitre, close to Bogota’s El Dorado International Airport. The mixed used project occupies approximately 925,000 sq ft (86,000 sq m) and is planned to have 18 office towers with an aggregate of over 6.5 million sq ft (600,000 sq m) of leasable area and more than 226,000 sq ft (21,000 sq m) of retail space that will include high end shops, a cinema, food and beverage outlets, and meeting and conference space.
“We are delighted that Grand Hyatt will be part of Ciudad Empresarial Sarmiento Angulo, which will be one of Bogota’s premier commercial projects,” said Pat McCudden, senior vice president, real estate and development for Hyatt Hotels & Resorts in Latin America and the Caribbean. “Grand Hyatt Bogota is set to be the first Hyatt-branded hotel in Bogota and will serve as our flagship hotel in the country. We look forward to announcing more Hyatt-branded properties in Colombia in the future.”
With an investment by Bienes y Comercio, S.A. of approximately USD 130 million, Grand Hyatt Bogota will offer 297 guestrooms, including 53 suites, and is being designed by the highly regarded Chicago-based Goettsch Partners architects, who have designed numerous other Hyatt-branded hotels, including Grand Hyatt Mumbai, Park Hyatt Guangzhou and several other Hyatt-branded hotels in China. Grand Hyatt Bogota’s guestrooms and suites will range in size from 473 sq ft (44.0 sq m) to 1,051 sq ft (97.7 sq m). Expected to open in early 2015, the hotel will feature two restaurants, a lobby lounge, a patisserie, and more than 24,000 sq ft (2,270 sq m) of meeting and event space, including a 10,800 sq ft (1,000 sq m) ballroom. Additional hotel amenities include a fitness center, an indoor pool, and a spa.
Located along Calle 26 (Avenida El Dorado), the hotel will be a short distance from Simón Bolívar Park, National University, the La Gran Estacion luxury retail mall, and numerous companies and government ministries, including the Chamber of Commerce, the Federal Reserve, and the U.S. Embassy.
Ciudad Empresarial, developed by Organizacion Luis Carlos Sarmiento Angulo, through its construction subsidiary Construcciones Planificadas, is the most important corporate real estate project in the history of Colombia. It will house 18 buildings once it is completed and of which four are already open and operating, housing key Colombian corporations. With a Grand Hyatt hotel, Ciudad Empresarial will complement its corporate structure and enrich Bogota´s growing skyline, giving travelers an exclusive option in one of Latin America´s most dynamic cities.
There are currently eight full service Hyatt-branded hotels in Latin America:
Grand Hyatt Bogota is the second Hyatt-branded hotel under development in Colombia, in addition to the previously announced Hyatt Regency Cartagena, which is expected to open in late 2015. Thirteen Hyatt-branded hotels are under development in Latin America, and when these properties open, there will be a total of 21 Hyatt-branded hotels in the region.
About Ciudad Empresarial
Ciudad Empresarial is the most important corporate real estate project ever built in Colombia. With an investment of about COP 2.2 billion, this mixed use project comprised of corporate offices, complementary services and shops, occupies 6.5 million sq ft (600,000 sq m) and is planned to have 18 towers. Four of the towers are already operating housing companies such as Avianca, the Colombian Infrastructure Chamber, the National Hydrocarbons Agency and Argos.
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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 HouseTM brand names and have locations on six continents. Hyatt House is changing its brand identity from Hyatt Summerfield Suites®. 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 March 31, 2012, the Company's worldwide portfolio consisted of 488 properties in 45 countries. For more information, please visit www.hyatt.com.
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