CHICAGO (July 12, 2012) - Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has signed a management agreement with Range Developments for a Park Hyatt hotel in St. Kitts. Slated to open in 2015, Park Hyatt St. Kitts will be located on the southeast peninsula of St. Kitts in Christophe Harbour, a 2,500-acre master planned community that is currently under development. The Christophe Harbour development project will offer a Tom Fazio-designed 18-hole championship golf course, a beach club and a 300-acre super yacht marina and marina village.
Park Hyatt St. Kitts will feature 200 guestrooms and 50 Park Hyatt-branded residential condominiums, and the hotel will be constructed in two phases. The first phase will include the completion of the hotel’s 125 guestrooms, two food and beverage outlets, a fitness center, a 12-treatment room spa, and more than 7,000 sq ft of meeting and banquet space. The second phase will include the completion of the remaining 75 guestrooms and a third food and beverage outlet. Dewan Architects is responsible for the hotel’s architecture.
“Park Hyatt St. Kitts will continue our company’s tradition of delivering an unprecedented level of luxury and unrivalled hospitality experience,” said Pat McCudden, senior vice president of real estate and development, Hyatt Hotels & Resorts. “Park Hyatt St Kitts will be designed to provide an intimate, contemporary resort environment, with touches of the local culture – a perfect sanctuary for our discerning guests.”
“We are pleased to launch this major development project on the beautiful island of St. Kitts, one of the most tranquil locations in the Caribbean,” said Munaf Ali, chief executive officer, Range Developments. “We believe Park Hyatt St. Kitts will deliver a new hospitality experience to guests visiting the Caribbean.”
Park Hyatt St. Kitts will be located in Banana Bay, a secluded area offering white sand beaches and crystal clear water, as well as views of The Narrows, a strait separating St. Kitts and the volcanic island of Nevis. The hotel will be less than 15 miles from Robert L. Bradshaw International Airport, Port Zante cruise terminal and Basseterre, the capital of St. Kitts and Nevis, which is headquarters to a number of tax and financial firms, including Caribbean Central Bank and Caribbean Securities Exchange. St. Kitts is an established resort and beach destination, offering activities such as diving, snorkeling, fishing, yachting, and golfing.
There are currently three Hyatt-branded hotels in the Caribbean, including Hyatt Regency Trinidad, Hyatt Regency Aruba Resort and Casino and Hyatt Regency Curacao Golf Resort, Spa and Marina. There are currently four Hyatt-branded hotels under development in the Caribbean, including Park Hyatt Bermuda, Andaz Turks and Caicos, Grand Hyatt Baha Mar, and Hyatt Place Bayamón and El Tropical Casino. For more information, please visit hyattdevelopment.com.
About Park Hyatt
Park Hyatt provides discerning, affluent individual business and leisure guests with elegant and luxurious accommodations. Guests of Park Hyatt receive highly attentive personal service in an intimate environment. Located in many of the world's premier destinations, each Park Hyatt is custom designed to combine sophistication with distinctive regional character. Park Hyatt features well-appointed guestrooms, meeting and special event spaces for smaller groups, critically acclaimed art programs and signature restaurants featuring award-winning chefs.
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.
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. These statements include statements about our plans, strategies, the number of properties we expect to open in the future and when we expect these properties to open, our expected capital expenditures, and other 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, general economic uncertainty in key global markets, 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; our ability to successfully execute and implement our organizational realignment and the costs associated with such organizational realignment; loss of key personnel, including as a result of our organizational realignment; 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; 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; 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; foreign exchange rate fluctuations or currency restructurings; general volatility of the capital markets; 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.
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Laurie Cole
+1 312 780 5935
laurie.cole@hyatt.com