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Hotel Mar Monte Becomes Hyatt Santa Barbara; Embarks on
$9 Million Renovation of Oceanfront Landmark Hotel

SANTA BARBARA, Calif. (July 20, 2011) – As of today, Hotel Mar Monte, Santa Barbara’s much-loved, 80-year old oceanfront property, will proudly raise the Hyatt flag as it becomes Hyatt Santa Barbara. This landmark hotel, a community and visitor’s destination for generations, has been undergoing extensive renovations to all guest rooms, meeting rooms and public spaces since February.

The first phase of renovations, including 92 guest rooms, as well as the hotel lobby, landscaping and décor around the pool and deck area, has been completed for the summer. In October, the renovation will resume on the remaining 79 guest rooms and all function space. Renovations are expected to be completed in 2012 when the property will be fully refurbished to a classic fusion of Spanish Colonial architecture, casual elegance and modern conveniences.

Ensuring a seamless transition, Hyatt Santa Barbara will retain the Hotel Mar Monte’s traditional charm and hospitality. Offering a wide range of amenities and services, the new Hyatt Santa Barbara will be home to 171 stylish guestrooms, each graced with ocean or mountain views, the Hyatt Grand Bed®, a flat screen HDTV and iHome Stereo with iPod® docking stations. Hotel amenities and services include a heated outdoor pool and whirlpool, fitness center, spa,business center and Bistro 1111 restaurant. In addition, bicycle rentals, winery tours, beach activities, day trips and much more can be coordinated with the hotel concierge.

Santa Barbara is well known as a destination for weddings and conferences. Hyatt Santa Barbara’s ten thousand square feet of indoor/outdoor unique and flexible meeting space with state-of-the-art technology ensure business and private functions are seamlessly executed. With postcard-perfect ocean views, bougainvillea draped patios and fine cuisine, weddings are dreams come true.

For casual upscale dining, Bistro 1111 offers a stylish Santa Barbara experience for hotel guests and locals alike. With an ocean view setting, the restaurant serves contemporary American cuisine with California flair. At the restaurant’s center is a cozy lounge where guests may enjoy cocktails, light fare and a daily happy hour.

Hyatt Santa Barbara is the newest addition to a collection of 23 Hyatt brand properties offering restful and contemporary rooms and the expertise of enthusiastic insiders to help guests make the most of their stay.

Santa Barbara, also known as the American Riviera, is one of the nation’s most renowned destinations. With a reputation for showcasing the quintessential California coastal life, world-class cuisine and subdued glamour, Santa Barbara attracts visitors ranging from presidents, royalty and movie stars to surfers, beach combers and families. And as a classic wedding destination, Santa Barbara offers romance, breath taking views and superior service.

About Hyatt Santa Barbara
Hyatt Santa Barbara has 171 guest rooms offering ocean and mountain views. Nearly half of guest rooms have been fully updated, with the remainder going under renovation this year. All rooms are equipped with iHome stereo with iPod® docking station and pampering products. Amenities of the hotel include heated outdoor pool and whirlpool, bicycle rentals, fitness center, high speed internet, 24-hour business center, valet parking, concierge services, FastBoardTM and 10,000 square feet of meeting space. Bistro 1111 is open daily for breakfast lunch and dinner. Hyatt Santa Barbara is located at 1111 East Cabrillo Boulevard, Santa Barbara, CA 93103. Reservations can be made by calling 805-882-1234. www.santabarbara.hyatt.com.

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 rate and pace of economic recovery following the economic downturn; levels of spending in business and leisure segments 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 uncertaintiecan be found in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K. 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.

For further information:

David McCarthy
Hyatt Santa Barbara

Jennifer Barry
The Barry Group PR