CHICAGO (October 29, 2012) – Hyatt Hotels Corporation (NYSE: H) announces that a Hyatt affiliate has entered into an agreement for a Hyatt House hotel in San Juan, Puerto Rico with an affiliate of Island Hospitality Partners, LLC, a joint venture of PRISA Group and McConnell Valdes Consulting. Puerto Rico Tourism Company Executive Director Luis Rivera Marín, PRISA Group President Federico Stubbe Jr. and other government officials attended a groundbreaking ceremony today, marking the construction commencement on Hyatt House San Juan, which is expected to open in fall 2014. Island Hospitality affiliates are also the owners of Hyatt Place Bayamón Hotel & El Tropical Casino and Hyatt Place Manatí & Casino, which are both currently under construction and expected to open in early 2014.
“We are glad to work with Island Hospitality on Hyatt House San Juan, our third Hyatt-branded hotel project with Island Hospitality in Puerto Rico,” said Pat McCudden, senior vice president, real estate and development Hyatt Hotels & Resorts. “We believe that the Hyatt House brand and the location of the hotel in San Juan’s convention center district will have strong appeal to business and leisure travelers visiting the city.”
Hyatt House San Juan will offer 126 studio, one and two bedroom kitchen suites, and will feature Atlantic ocean and San Juan Bay views. The hotel will be part of a 113-acre master planned project, which currently includes the 580,000 sq. ft. state-of-the-art Puerto Rico Convention Center. Located in Isla Grande, the hotel will be in close proximity to the Financial District in Hato Rey, Isla Grande Airport and the Port of San Juan. Additionally, Hyatt House San Juan will be located near local points of interest, including Old San Juan, the Condado district, San Juan Central Park, and Plaza Las Américas. The hotel will be conveniently located in front of a water taxi pier, which will provide an alternative transportation option to surrounding areas of San Juan, including the new Bahía Urbana waterfront development. Hyatt House San Juan will also be adjacent to the proposed San Antonio Light Rail Station, which, upon completion, will provide easy access and connection to the greater San Juan metro area.
“We believe in the Hyatt House brand and think the hotel will have strong appeal in San Juan due to its close proximity to the Puerto Rico Convention Center and convenient access to the airport and cruise ship terminal,” said Federico Stubbe, Jr., president of PRISA Group. “Hyatt House San Juan is the first upscale extended stay hotel to be built in Puerto Rico, which is a testament to the Island’s evolving and maturing tourism market. We are excited to introduce the Hyatt House brand to San Juan, and furthermore, to bring Hyatt’s world-class hospitality to Puerto Rico with both the Hyatt Place and Hyatt House brands.”
Launched in 2012, Hyatt House was designed to welcome residents rather than guests. Inspired by extensive research of guest experiences, Hyatt House is designed to surprise and delight with services, amenities, upscale spaces and a casual, comfortable environment that will remind guests of home. Residentially inspired studios, one- and two-bedroom suites feature contemporary full kitchens, living space with flat panel HDTVs and bedrooms with a plush bed. Complimentary Wi-Fi is available throughout the hotel. A complimentary full hot breakfast is served daily as well as a complimentary Evening Social with savory bites, beer and wine. In lieu of the Evening Social, some locations have an H BAR featuring the Sip+Savor menu and full bar. Public spaces include a 24-hour workout room, Guest Market and laundry facilities. A friendly House Host is available to check-in guests, provide directions or help with other needs so guests feel right at home. The brand is committed to helping guests keep their real-life routines rolling while on the road.
For more information, please visit www.hyattdevelopment.com.
About Island Hospitality Partners
Island Hospitality Partners is a joint venture of PRISA Group and McConnell Valdes Consulting (McVC). PRISA and McVC have combined their expertise and resources in the planning, development, construction and operation of hospitality, residential and mixed used projects to form Island Hospitality Partners, LLC, creating a strong team capable of executing all necessary tasks for the successful development projects from conception to operation.
PRISA Group (PRISA) is a family-owned developer and builder of green residential communities and resort hospitality projects in Puerto Rico and Florida with over 6,000 units under planning and construction, representing a value of over $3 billion. The firm has delivered over 3,000 units in the last 20 years and is currently developing projects in Dorado, Vega Alta, Gurabo, San Lorenzo, and Humacao, Puerto Rico, as well as in Tampa, Florida. PRISA Group has received numerous awards, including Builder Member of the Decade and three Master Planned Community of the Year Awards by the National Association of Home Builders’ Puerto Rico Chapter.
PRISA Group is currently developing a $340 million hotel in Dorado Beach, which is expected to open in December 2012, in addition to Hyatt Place Bayamon & El Tropical Casino and Hyatt Place Manati & Casino. More information is available at www.prisagroup.com.
McConnell Valdes Consulting, Inc. (McVC) is a Puerto Rico corporation specializing in the planning, financing, development and marketing of hospitality and mixed-use real estate projects in Puerto Rico. McVC personnel have over 30 years of experience in the hospitality and real estate industries and have advised local and international clients in designing and executing complex hospitality and real estate projects in Puerto Rico, the Caribbean and Spain.
McVC is an affiliate of McConnell Valdés LLC. This affiliation provides the continuity and support of one of the nation’s most respected Hispanic-owned law firms combined with the hospitality and real estate expertise and transactional track record of the professionals at McVC.
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 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 HouseTM brand names and has locations on six continents. Hyatt House is changing its brand identity from Hyatt Summerfield Suites®. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Residence ClubTM. As of June 30, 2012, the Company's worldwide portfolio consisted of 492 properties in 45 countries. For more information, please visit www.hyatt.com.
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