News Releases

CHICAGO- December 28th, 2005—Victor Lopez has been promoted to senior vice
president of development for Hyatt Corporation. In his new role, Mr. Lopez will focus on
international acquisition and development primarily in Latin America and Caribbean. He will report
to Michael Shindler, senior vice president, development for Hyatt International

    Most recently, Mr. Lopez as senior vice President, field operations for Hyatt Hotels
Corporation. In this capacity, he directed the operations of 23 properties in the high volume
leisure and business destinations of Mexico, Latin America, Florida, and the Caribbean.

    A 30-year veteran of the hotel industry, Mr. Lopez’s career spans a variety of positions
that have provided his keen understanding of hotel operations and customer service. He began at
Hyatt as the restaurant manager at Hyatt Los Angeles Airport and went on to positions at Hyatt
Islandia in San Diego, California and Hyatt Regency O’Hare in Rosemont, Illinois, before
becoming general manager of Hyatt Wilshire in Los Angeles. In 1985, with the acquisition of two
major resorts in Puerto Rico, Mr. Lopez became general manager of Hyatt Regency Cerromar.
After regional positions in the Caribbean and Florida, in 1993 he was promoted to divisional vice
president and became senior vice president of field operations in January 2004.

    Mr. Lopez’s accomplishments include his contribution to the development and
management of Hyatt’s popular and innovative programs that include: Camp Hyatt, Spa Hyatt,
Golf Hyatt and learning vacation programs, as well as the gaming operations attached to Hyatt
Resorts. His recent major innovation is the development of the new Hotel Victor in Miami,
Florida, a uniquely new venture for Hyatt Hotels. This sleek, hip and sexy exclusive boutique
property, located on famed Ocean Drive in Miami’s South Beach, has been designed to appeal to
a new generation of high-end hotel consumers.

    As the highest-ranking Hispanic within the Hyatt Corporation, Mr. Lopez is committed to
the mentoring of minorities working within the Hyatt Hotels and Resorts Division. A native of
Costa Rica, Mr. Lopez moved to the United States with his family when he was10-years-old and
spent his teenage years in Evansville, Indiana. He graduated with a B.S. degree from Western
Kentucky University and now calls Miami, Florida and Dorado, Puerto Rico home with his
family.

    In addition to his work with Hyatt, Mr. Lopez was the founding chairman of the Great
Places in the Caribbean Trust, a public/private sector organization formed to promote the region.
Currently, he is a member of the Board of Directors of Caribbean Development and Investments
N.V., the Board of Directors of WATSCO Corporation, the Board of Trustees of the Miami
Children’s Hospital, the Board of Directors of the Miami New World Symphony and the Board of
Directors of Miami’s Camillus House. Mr. Lopez also is a member of several trade organizations,
including the Caribbean Hotel Association and a resort committee member of the American Hotel
and Lodging Association. Mr. Lopez and his wife, Edda, volunteer their time working with
various organizations that support the needs of children.

    In 2003, Mr. Lopez was honored by the Hispanic Association on Corporate
Responsibility (HACR), a coalition of the nation’s most prominent Hispanic organizations, as one
of the most influential Hispanics in Corporate America. Presented with the HACR Governance
Award, this honor recognized Mr. Lopez’s continuing commitment to the HACR mission of
ensuring equitable participation of the Hispanic community within corporate America.

###