CHICAGO (June 7, 2010) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt subsidiary and Juniper Hotels Private Limited signed management agreements for Andaz Delhi, a 323-room hotel with an additional 118 Andaz-branded apartments. Slated to open in 2013, the new Andaz property will be located within the burgeoning hospitality district near Indira Gandhi International Airport in Delhi, India. This project, the first Andaz property planned in India, comes two months after Hyatt announced plans to expand its presence in Delhi, Goa, Kolkata and Mumbai, as well as expand into 15 new Indian markets over the next five years.
Personal and uncomplicated, Andaz is a new hotel experience that is a fresh, stylish blend of engaging hospitality delivered in vibrant settings, and created with simplicity and locality in mind. Andaz Delhi will join the existing Andaz portfolio which includes Andaz Liverpool Street, London (2007), Andaz West Hollywood (2009), Andaz Wall Street (2010) and Andaz San Diego (2010). Andaz 5th Avenue in New York is scheduled to open in summer 2010. Additional Andaz hotels in development include Andaz Austin, Texas; Andaz Amsterdam, Andaz Papagayo, Costa Rica; Andaz Sanya Sunny Bay, China; and Andaz Turks and Caicos.
Located in India’s second largest metropolis and one of its leading economic centers, Andaz Delhi will command a premier site in the city’s strategically located hospitality district, which is near Delhi’s emerging Central Business District and the commercial hubs of Gurgaon and South Delhi. Combined, these cities form the heart of India’s bustling National Capital Region. International business travel into Delhi has steadily risen in recent years, attracted by such industries as information technology, telecommunications, banking and media as well as tourism.
Andaz Delhi will feature a variety of amenities including a lounge, theme bar, two restaurants, spa and fitness center. Additionally, the property will offer a 7,000-square-foot ballroom and seven meeting rooms. The hotel will be easily accessible by air, rail, and highway transportation.
“We are excited about the opportunity to introduce the Andaz brand to India as part of our plan to grow in one of the world’s leading emerging markets,” said Ratnesh Verma, senior vice president of real estate and development for Hyatt Hotels & Resorts in South Asia. “Andaz Delhi will appeal to the discerning international leisure and business traveler seeking a new and unique experience. This exciting project is consistent with our development strategy of expanding the presence of our preferred brands in key markets with strong and experienced developers and owners.”
“We believe in Hyatt’s strong commitment to the success of the Andaz brand and are delighted to be able to strengthen our relationship with the company to bring Andaz to this key market in India,” said Arun Saraf, managing director, Juniper Hotels Private Limited, a co-owner of Grand Hyatt Mumbai, which opened in 2004.
Global in scale while local in perspective, Andaz delivers an innovative hospitality experience and attentive, uncomplicated service designed to accommodate guests’ personal preferences. Hotels in this unique collection reflect the spirit of their locale, and are dedicated to creating natural and vibrant living spaces where travelers can indulge in their own personal sense of comfort and style. For more information and reservations, visit www.andaz.com.
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 in 45 countries 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 Summerfield Suites™ brand names and have locations under development on five continents. Hyatt Vacation Ownership, Inc., a Hyatt Hotels Corporation subsidiary, develops and operates vacation ownership properties under the Hyatt Vacation Club® brand. As of March 31, 2010, the company’s worldwide portfolio consisted of 434 properties. For more information, please visit www.hyatt.com.
About Juniper Hotels Private Limited
Juniper Hotels Private Limited (JHPL) is a hotel investment company co-owned by Two Seas Holdings Limited, and Saraf Holdings Limited. JHPL owns Grand Hyatt Mumbai and Hyatt Regency Ahmedabad in Western India, scheduled to open in 2013. Saraf Holdings, a developer of Hyatt hotels in India through its affiliates also own hotels under the Hyatt Regency brand in Kolkata (Eastern India), which opened in 2002; Chennai in Southern India, scheduled to open in 2010; and Kathmandu, a luxury five-star resort in Kathmandu, Nepal, which opened in 2000.
Forward Looking Statements
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, 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, the depth and duration of the current economic downturn; levels of spending in the business, travel and leisure industries as well as consumer confidence; declines in occupancy and average daily rate; 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; 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; fluctuations in currency exchange rates; general volatility of the capital markets and our ability to access the capital markets. A more complete description of these risks and uncertainties can be found in our filings with the Securities and Exchange Commission. 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.
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For further information:
Hyatt Hotels & Resorts
+1 312 780 5506