CHICAGO (March 14, 2018) – Hyatt and Hui Xian Real Estate Investment Trust (“Hui Xian REIT”) jointly announced today an agreement for Hyatt to manage a hotel owned by Hui Xian REIT. Located in Jiefangbei, Chongqing’s Central Business District in western China, the hotel is currently under renovation and is expected to be rebranded as a Hyatt hotel in the first quarter of 2019.
Acquired by Hui Xian REIT in 2017, the hotel is currently being redesigned and integrated into the adjacent Chongqing Metropolitan Oriental Plaza, which is also under Hui Xian REIT’s ownership. With renovations expected to be complete in early 2019, the whole complex will be branded as “Chongqing Oriental Plaza,” and modeled after Beijing Oriental Plaza, encompassing the renovated hotel, a one-stop shopping center, a Grade A office tower, and serviced apartments.
As one of the four direct-controlled municipalities in China, Chongqing is one of the busiest transportation hubs and main economic centers. It led economic growth across 19 provincial-level regions in 2017. The number of domestic and foreign tourists in Chongqing has increased more than 20 percent year-over-year. To be branded as a Hyatt hotel in 2019, the hotel will be well positioned to accommodate the city’s growing meetings, incentive, conference and event demand, creating an energizing space for travelers and corporate guests to convene and connect.
“We are excited to further expand Hyatt’s brand footprint in Chongqing, a city with abundant tourism and economic growth,” said Mr. Christopher Koehler, Hyatt’s vice president of operations and managing director for China. “The hotel is expected to join the World of Hyatt loyalty program on July 1, 2018 and participate in our extensive network of hotels in more than 50 countries. We are very pleased to collaborate with Hui Xian REIT again, and we look forward to welcoming guests in the heart of Chongqing.”
“We have witnessed the role of Grand Hyatt Beijing in the success of Hui Xian REIT’s Beijing Oriental Plaza for the past 18 years,” said Mr. H L Kam, chairman, Hui Xian Asset Management Limited. “I am very pleased to collaborate with Hyatt again in Chongqing and look forward to the launch of a Hyatt hotel in 2019 as an integral part of Chongqing Oriental Plaza serving tourists and business communities in support of the rapidly growing development in Chongqing.”
As part of the hotel’s renovations, the lobby, guestrooms, and food and beverage offerings are all being updated to bring a modern look and elevate the overall guest experience.
The term “Hyatt” is used for convenience in this release to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
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Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 14 premier brands. As of December 31, 2017, the Company's portfolio included more than 700 properties in more than 50 countries across six continents. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top colleagues, build relationships with guests and create value for shareholders. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences, vacation ownership properties, and fitness and spa locations, including under the Park Hyatt®, Miraval®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound Collection by Hyatt®, Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™, Hyatt Residence Club® and exhale® brand names. For more information about Hyatt Hotels Corporation, please visit www.hyatt.com.
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