CHICAGO (October 15, 2012) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into an agreement with Ginekar Limited Liability Company for a Hyatt Place hotel in Yerevan, the capital of Armenia. Hyatt Place Yerevan is the third Hyatt Place hotel under development in Europe, joining Hyatt Place Amsterdam Airport and Hyatt Place Zurich Airport.
Slated to open in the spring of 2013, Hyatt Place Yerevan will offer 96 guestrooms, in addition to more than 1,300 sq ft (120.7 sq m) of meeting space, an open market with made-to-order meals and snacks around the clock, a restaurant offering breakfast, lunch and dinner; a bar; a four-station e-room, and a well-equipped fitness center. The hotel will be located next to Republic Square, the heart of Yerevan’s city center, and is in close proximity to the Government House, the Ministry of Foreign Affairs, the National Gallery, and Abovyan Street, the city’s main thoroughfare with many boutiques, cafes and gift shops.
“We are pleased to introduce the Hyatt Place brand to a city that is undergoing major commercial and development enhancements and transformations,” said Peter Norman, Senior Vice President – Acquisitions and Development for Hyatt International – Europe, Africa, Middle East) LLC. “The opening of Hyatt Place Yerevan will mark a significant milestone for Hyatt as we begin to introduce the brand worldwide.” In addition to Hyatt Place Yerevan, two Hyatt Place hotels are slated to open outside of the United States in 2012 in Hampi, India and San Jose, Costa Rica.
“We are proud to develop the first Hyatt Place hotel in Armenia,” said Samvel Sargsyan, Chairman of the Board, Ginekar Limited Liability Company. “The Hyatt Place brand is a unique and refreshing concept, and we believe that this will be a very successful hotel serving business and tourist visitors to the Armenian capital.”
Launched in 2006, Hyatt Place brings to the upscale select-service hotel category the authentic hospitality for which Hyatt is known. Inspired by multitasking travelers’ 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 and remote printing, a 24-hour StayFit@Hyatt fitness center, a coffee and wine bar serving specialty coffees and premium wine, beer, and spirits, complimentary a.m. Kitchen Skillet™, featuring freshly prepared breakfast sandwiches and a Grab ’n Go case stocked with sandwiches and hand tossed salads. The Guest Kitchen offers lunch and dinner entrées 24/7. Specially trained Gallery Hosts offer assistance with everything from directions to check-in to a freshly made meal. Spacious guestrooms are designed to help guests perfectly blend their lifestyle of work and play, featuring the Hyatt Grand Bed™, Cozy Corner sofa sleeper, work center, 42 inch HDTV’s and the Hyatt Plug Panel media center.
About Ginekar Limited Liability Company
Ginekar Limited Liability Company is an Armenian limited liability company engaged in the production and sale of wine. The company’s Chairman of the Board, Mr. Samvel Sargsyan, is also the Chairman of the Board of Directors of Restorations & Construction Concern, “Lucine,” a Moscow-based construction company whose projects include Ararat Park Hyatt.
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 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 Residence ClubTM. As of June 30, 2012, the Company's worldwide portfolio consisted of 492 properties in 45 countries. For more information, please visit www.hyatt.com.
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, occupancy and ADR trends, market share, the number of properties we expect to open in the future, our expected adjusted SG&A expense, capital expenditures, depreciation and amortization expense, interest expense and effective tax rate, estimates, 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, 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; our ability to successfully execute and implement our common stock repurchase program; 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.
# # #
+1 312 780 5797
+33 1 53 45 28 38