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Adjacent to Convention Center, Hotel will be Third Hyatt in San Antonio Area

SAN ANTONIO, TX -June 10, 2005 – A groundbreaking ceremony held today signaled the beginning of construction on the 1,000-room Grand Hyatt hotel that will be adjacent to the convention center in downtown San Antonio along the Riverwalk.

The financial transaction for the construction of the hotel was completed earlier this week between a private hotel ownership group and the City of San Antonio. Construction on the Grand Hyatt is scheduled for completion in early 2008.

The hotel is co-owned by Austin-based FaulknerUSA and Marathon Real Estate of New York. FaulknerUSA is also the hotel developer and design-builder. Hyatt will serve as the management company.

This will be the first Grand Hyatt in San Antonio and the third Hyatt in the area joining Hyatt Regency San Antonio and Hyatt Regency Hill Country Resort & Spa. It will be the 12th Hyatt in Texas when it opens.

Grand Hyatt hotels serve culturally rich destinations that attract leisure and business travelers as well as large-scale meetings and conventions. The hotels, reflecting a grand scale and refinement, include features such as state-of-the-art technology, sophisticated business and leisure facilities, banquet and conference facilities of world-class standard and specialized programs that cater to discriminating business and vacation guests.

“We are thrilled to bring the Grand Hyatt name to San Antonio,” said Chuck Floyd, executive vice president, Hyatt Hotels Corporation. “Hyatt has an excellent track record with convention center hotels, and this Grand Hyatt will be no exception. We look forward to welcoming guests from all over the world to this first-class hotel.”

Participating in the groundbreaking event was outgoing San Antonio Mayor Ed Garza; Mark Schultz, president of FaulknerUSA; John Halpern, Managing Director of Marathon Real Estate; Laura Roe, vice president of finance at FaulknerUSA; Chuck Floyd, executive vice president of operations at Hyatt Hotels; District 1 Councilman Roger Flores; District 2 Councilwoman Sheila McNeil; Rolando Bono, interim city manager; Chris Brady, assistant city manager; Mike Sawaya, Convention Center director;

“Today’s ground breaking is the beginning of a tremendous economic development opportunity for San Antonio,” said Mark Schultz, president of FaulknerUSA. “The new Grand Hyatt will not only enhance the city’s tourism industry but also raise the city’s profile as a tier one convention destination.”

Former Mayor Lila Cockrell was the special guest of event organizer FaulknerUSA and presided over the groundbreaking ceremony. Ms. Cockrell is a long-time supporter of a hotel dedicated to serving the convention center; and this new property will be built adjacent to the theater that bears her name. Father John Magdalene Suenram, pastor of the Basilica of the National Shrine of the Little Flower, provided a blessing of the area prior to the ceremony.

About Hyatt

There are 211 hotels and resorts (over 90,000 rooms) in 43 countries around the world, operating under the Hyatt®, Hyatt Regency®, Grand Hyatt® and Park Hyatt® brands. Currently, there are an additional 31 Hyatt hotels and resorts under development, including 10 new hotels in China. Hyatt Corporation (domestic U.S., Canada and Caribbean hotels) and Hyatt International Corporation (international properties) are subsidiaries of Chicago-based Global Hyatt Corporation. Global Hyatt Corporation is also the owner of Hyatt Vacation Ownership, Inc. (timeshare), Hyatt Equities, L.L.C. (hotel ownership), and U.S. Franchise Systems, Inc. (which franchises Hawthorn Suites, Microtel and America’s Best Inns).

In January 2005, Global Hyatt Corporation also added an additional 143 U.S. properties to its growing portfolio with the acquisition of the upscale, limited service AmeriSuites hotel chain. These properties will be repositioned and renamed under a new Hyatt brand by early 2006.

From the U.S. and Canada, reservations for any Hyatt hotels worldwide may be obtained by calling 800-233-1234 or logging on to www.hyatt.com

About FaulknerUSA

Headquartered in Austin, Texas, FaulknerUSA is a national development and design-build company with a 40-plus-year record of excellence. From convention hotels, mulit-use developments and retail projects to military housing, hospitals and correctional facilities, FaulknerUSA delivers innovative development and construction solutions for a broad range of clients nationwide.

For further information:

Lori Armon
Hyatt Hotels & Resorts