Egypt Remains Important to Hyatt Despite Its Exit From the Grand Hyatt Cairo
CAIRO, EGYPT (MARCH 21, 2011) – Hyatt International (Europe Africa Middle East) LLC (“Hyatt”) today announced that it will exit the Grand Hyatt Cairo due to unresolved contractual disputes with the hotel’s owner.
For several weeks Hyatt has been attempting resolution through a series of urgent communications with the hotel owner, Saudi Egyptian Touristic Development Company. Regrettably, resolution of the disputes has not been possible.
“It is unfortunate that the contractual disputes have not been resolved, forcing us to exit this property, but this does not diminish how important Egypt is and will remain to the Hyatt brand,” said Gebhard Rainer, managing director, Hyatt International (Europe Africa Middle East) LLC. “We will continue to operate two Hyatt hotels in Egypt, and are interested in pursuing new development opportunities there.”
The Saudi Egyptian Touristic Development Company has been notified of Hyatt’s exit, effective immediately, due to the contract termination. Hyatt will no longer be involved in the management of the hotel and the owner will no longer be permitted to use the Hyatt brand.
Hyatt began managing Grand Hyatt Cairo in August 2003. Hyatt currently provides management services for two Hyatt Regency hotels in the Red Sea resorts of Sharm El Sheikh and Taba Heights, both of which are owned by entities unassociated with the Grand Hyatt Cairo and are not affected by this action.
Guests who have made reservations at Grand Hyatt Cairo through hyatt.com or the Hyatt reservation center should contact the hotel directly to confirm booking. Hyatt Gold Passport members will no longer be able to receive points or redeem points for stays at the hotel. Additional information is posted at Hyatt.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 December 31, 2010, the Company’s worldwide portfolio consisted of 453 properties. For more information, please visit www.hyatt.com.
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Malene Rydahl
Director of Communications
Europe, Africa & Middle East
+33 1 53 45 28 38
malene.rydahl@hyatt.com