CHICAGO (June 14, 2023) – Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a franchise agreement with Botteghe Oscure s.r.l., a company affiliated with AG Group s.r.l., for the first Thompson Hotels property in Italy with Thompson Rome. Expected to open by mid-2024 in the heart of the Italian capital, the 70-room luxury lifestyle hotel will be the brand’s second property in Europe, joining Thompson Madrid, which opened in 2022, and the previously announced Thompson Vienna, which is slated to join the portfolio in 2025. Hyatt’s thoughtful expansion of the Thompson Hotels brand further bolsters Hyatt’s position as a global leader in luxury, lifestyle and leisure travel, while increasing the World of Hyatt loyalty program value proposition by delivering meaningful experiences to members in more sought-after destinations.
The Thompson Hotels brand is renowned for channelling the destination’s local creative energy, combining instinctive design and culinary sophistication to curate the best of each destination’s culture within its walls. With the cultural areas of music, art, fashion, design and culinary at the heart of the Thompson Hotels brand experience, the properties serve as a dynamic home-base for tastemakers, emerging creatives and culturally astute travelers to connect with one another and with what inspires them.
“We know that there is a growing appetite amongst today’s travelers and developers for hotels that cater to culturally savvy guests and bring a modern approach to conventional hospitality. We are excited to meet this demand with one of the most exciting new hotels in Rome as we continue to scale our luxury, lifestyle and leisure brands across the region,” said Nuno Galvao Pinto, regional vice president of real estate and development at Hyatt. “We are honored to continue to work with AG Group s.r.l. to welcome the Thompson Hotels brand to one of the world’s most coveted leisure destinations.”
Visitors of Thompson Rome will experience a true sense of Roman culture through a revolutionary design restoration of one of the city’s most iconic buildings – the former headquarters of the Italian Communist Party. Converted into a luxury lifestyle hotel, the elegant 1930s-built Palazzo is located near the Capitoline Hill, Fori Imperiali and Jewish Quarter and will undergo an extensive enhancement while preserving the landmark’s key historical features. The artistic legacies of the building that will remain will represent the Thompson Hotels brand’s commitment to authentic cultural curation including the entrance hall, designed by sculptor Giò Pomodoro, complete with a five-pointed gold star set into the floor, as well as a marble bust of the party’s founding member and one-time leader, Antonio Gramsci.
The expansion of the Thompson Hotels brand with plans for Thompson Rome is reflective of Hyatt’s accelerated brand growth in the southern European country, joining five Italian properties that have been added to Hyatt’s portfolio in the past four years. Thompson Rome will mark the seventh Hyatt-branded hotel in Italy and the second in Rome, joining The Tribune Hotel, part of JdV by Hyatt brand, also operated by AG Group s.r.l.
“We are delighted to expand our relationship with Hyatt in this sought-after market with the debut of the Thompson Hotels brand in Italy,” said Andrea Girolami, president of AG Group s.r.l. “Hyatt shares our vision of delivering a refined hideaway in the heart of Rome that combines a casual sense of luxury with refined rooms and layered design throughout for an authentic experience. We look forward to welcoming guests and locals alike to this one-of-a-kind property.”
Thompson Rome will boast four dining outlets, including a rooftop restaurant and terrace with a cocktail bar featuring panoramic views of the buzzing eternal city. The property will also feature two dedicated meeting rooms and a fitness center.
For more information about the iconic international portfolio of the Thompson Hotels brand, please visit: www.thompsonhotels.com.
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
About Thompson Hotels
Thompson Hotels have transformed conventional hospitality into dynamic cultural moments inspired by the surrounding streets since the brand’s first hotel opened in downtown NYC more than 20 years ago. Today, the brand continues to channel local creative energy into its expanding international portfolio of properties, with restaurants helmed by top culinary names, lobbies that double as cultural epicenters, boundary-pushing music programs, and more. The result is a magnetic hub built for collective gathering, where distinct design is an ethos and a signature part of the guest experience. Each hotel serves as an inspiring home base for guests and creatives alike to connect with each other and what moves culture forward. The Thompson Hotels portfolio of luxury lifestyle hotels currently includes The Beekman, Gild Hall and Thompson Central Park New York in New York City; Thompson Washington D.C.; Thompson Nashville; Thompson Seattle; Thompson Chicago; The Cape in Los Cabos, Mexico; Thompson Playa del Carmen on Mexico’s Riviera Maya; Thompson Zihuatanejo on Mexico’s Pacific Coast; Thompson Dallas, Thompson San Antonio, and Thompson Austin in Texas; Thompson Savannah; Thompson Hollywood; Thompson Buckhead; Thompson Denver; and Thompson Madrid in Spain. Follow @ThompsonHotels on Facebook, Twitter, and Instagram for news and updates. For more information, please visit www.thompsonhotels.com.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of March 31, 2023, the Company’s portfolio included more than 1,250 hotels and all-inclusive properties in 75 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Residence Club®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt®; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt®; and the Inclusive Collection, including Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.
ABOUT AG Group
AG Group, founded by entrepreneur Andrea Girolami (AG) is Italy’s first Italian-owned hospitality group capable of providing all aspects of demand for tourism in-house with boutique hotels, DMC/ tour operator & event management, hotel consultancy and culinary outlets. The motto “Your Gateway to Italy” embraces their position as a doorway to the best of Italy. AG Group is comprised of the following core divisions, including:
AG Hotels: Collection of four- and five-star luxury hotels in Rome and Florence
AG Boutique Journey: DMC, tour operator and special events company specializing in group travel, FIT travel, corporate and events, luxury travel and weddings
AG Hotel Consulting: AG’s hotel consulting services, an important element to the AG Group portfolio, creates new opportunities for business development, including identifying investment opportunities from select private funds, and offers professional experience with a holistic approach to the hospitality sector.
For more information on AG Group Italy including AG Hotels, AG Boutique Journey, AG Hotel Consulting and AG Foodies, please visit https://www.aggroupitaly.it/ and follow us on Instagram and Facebook.
Forward-Looking Statements
Forward-Looking 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. 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, but are not limited to, general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and the pace of economic recovery following economic downturns; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group segments, as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geo-political conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters, weather and climate-related events, such as earthquakes, tsunamis, tornadoes, hurricanes, droughts, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; the pace and consistency of recovery following the COVID-19 pandemic and the long-term effects of the pandemic, additional resurgence, or COVID-19 variants, including with respect to global and regional economic activity, travel limitations or bans, the demand for travel, transient and group business, and levels of consumer confidence; the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants or other pandemics, epidemics or other health crises; our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party property owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations, including with respect to our acquisition of Apple Leisure Group and Dream Hotel Group and the successful integration of each business; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; declines in the value of our real estate assets; unforeseen terminations of our management or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates, wages, and other operating costs; foreign exchange rate fluctuations or currency restructurings; risks associated with the introduction of new brand concepts, including lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, including as a result of the COVID-19 pandemic, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and Unlimited Vacation Club paid membership program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; and violations of regulations or laws related to our franchising business and licensing businesses and our international operations;; and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including our annual report on Form 10-K and our Quarterly Reports on Form 10-Q, which filings are available from the SEC. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements. We caution you not to place undue reliance on any forward-looking statements, which are made only 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 law. 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.
# # #
MEDIA CONTACTS:
Hannah Acsinia
Hyatt – Central and Eastern Europe
hannah.acsinia@hyatt.com
Dana Fioravanti
Hyatt
dana.fioravanti@hyatt.com