News Releases

Hyatt and Hui Xian Reit Announce Plans for a Hyatt Hotel in Chongqing

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.

For further information:

About Hyatt Hotels Corporation

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.

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.  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 our actual results, performance or achievements to differ materially from current expectations include, among others, 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; the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners; the possible inability of third-party owners, franchisees or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and the introduction of new brand concepts; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; general volatility of the capital markets and our ability to access such 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 U.S. Securities and Exchange Commission. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements.  We caution you not to place undue reliance on any forward-looking statements, which are made only 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 law. 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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MEDIA CONTACTS:

Gloria Kennett

Hyatt

gloria.kennett@hyatt.com

312-780-5506

 

Lillian Zhang

Hyatt – China

lillian.zhang@hyatt.com

+86 10 5928 1234


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