News Releases

Hyatt and Sun Hung Kai Properties Limited Announce Plans for a New Andaz Hotel in Shanghai
Planned to be part of the new mega commercial complex ITC Shanghai, Andaz Shanghai ITC is set to bring new energy to Xujiahui

SHANGHAI / HONG KONG (September 24, 2020) Hyatt and Sun Hung Kai Properties Limited (HKSE: 0016.HK) today announced plans for a new Andaz hotel – Andaz Shanghai ITC – to be located in Xujiahui, Shanghai. The new luxury lifestyle hotel, expected to open in 2024, will offer global travelers inspiring and unique experiences in the vibrant city of Shanghai.

Andaz Shanghai ITC will feature the brand’s thoughtful and unscripted service with 265 guestrooms and suites, one signature restaurant and an Andaz Lounge, as well as a state-of-the-art fitness center, an indoor pool and unique event spaces. Located atop the area’s transportation hub, the hotel’s prime location will offer excellent accessibility for inquisitive travelers who wish to enjoy Shanghai and fully immerse themselves in the city through the brand’s distinct expressions of local culture and focus on authentic experiences.

Xujiahui is a well-established residential, commercial and cultural area in Central Shanghai, known for its diverse shopping and entertainment options. Due to its location as a key transportation hub, the Shanghai government plans to rejuvenate and upgrade Xujiahui, into an important sub-CBD. ITC, a mega mixed-use complex, situated in the heart of Xujiahui, is set to become one of the most sought-after landmarks in Shanghai. The new Andaz hotel, as part of the prestigious ITC development, will bring the brand’s focus on local perspectives to life and offer elevated sensory experiences to global travelers, enlivening the area by creating additional leisure and commercial activities.

“At Hyatt, we are committed to collaborating with owners who support our strategy to grow our brands with intent and with those who share our focus on delivering high-end experiences and operational excellence. We are delighted to further expand our relationship with Sun Hung Kai Properties (SHKP) to develop Andaz Shanghai ITC, following a successful collaboration on Park Hyatt Hangzhou and the recently opened Hyatt Centric Victoria Harbour Hong Kong,” said Stephen Ho, president of Growth and Operations, Asia Pacific, Hyatt. “Driven by our shared vision, we look forward to working alongside SHKP to expand the Andaz brand’s presence in Shanghai and China, and provide guests with immersive experiences through distinct expressions of local culture.”

Set to be the second Andaz hotel in Shanghai, Andaz Shanghai ITC will further drive meaningful growth of the Andaz brand’s footprint in Greater China and join other Andaz hotels in key destinations including Shenzhen, Nanjing, Macau, Taipei and the recently opened Andaz Xiamen.

“It is our great pleasure to be working with Hyatt on the second hotel in Shanghai, further expanding on our years of successful collaboration. The new Andaz hotel will be a perfect fit for our mega 7.6-million-square-foot ITC project, a landmark transit-oriented development comprising premium grade-A offices, including a 370-metre skyscraper, likely to be the tallest in Puxi, and 2.5-million square-foot upmarket shopping space with direct access to the Xujiahui metro station. ITC will surely be one of the most coveted addresses in Shanghai, and the addition of Andaz Shanghai ITC will further enhance the stylish and spirited atmosphere of ITC, strengthening Xujiahui as one of the core business districts in the city and creating enormous benefits for the local economy and guests from around the world,” said Eric Tung, Executive Director of SHKP.

In May 2019, Hyatt and SHKP announced plans for a Hyatt Centric hotel in Minhang, Shanghai, as part of SHKP’s four-million-square-foot transit-oriented development TODTOWN. Andaz Nanjing is another collaboration between Hyatt and SHKP, which will be located in the Nanjing IFC in Nanjing Hexi CBD.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

For further information:

About Andaz

Global in scale while local in perspective, the Andaz brand of luxury lifestyle hotels weaves the sights, sounds, and tastes of each property’s surroundings for a distinctively local experience. Through thoughtful, unscripted service tailored for travelers, Andaz hotels enable guests to go beyond the familiar and satiate their curiosity while immersing them in the spirit of the eclectic culture around them. Twenty-three Andaz hotels are currently open: Andaz 5th Avenue and Andaz Wall Street in New York, Andaz San Diego, Andaz West Hollywood, Andaz Napa, Andaz Scottsdale Resort & Bungalows, Andaz Savannah, Andaz Maui at Wailea Resort, Andaz Ottawa ByWard Market, Andaz Mayakoba Resort Riviera Maya, Andaz Costa Rica Resort at Peninsula Papagayo, Andaz London Liverpool Street, Andaz Amsterdam Prinsengracht, Andaz Munich Schwabinger Tor, Andaz Vienna Am Belvedere, Andaz Singapore, Andaz Delhi, Andaz Xintiandi in Shanghai, Andaz Xiamen, Andaz Tokyo Toranomon Hills, Andaz Seoul Gangnam, Andaz Capital Gate Abu Dhabi, and Andaz Dubai The Palm. For more information, please visit Follow @Andaz on FacebookTwitter and Instagram, and tag photos with #WhenInAndaz.

About Sun Hung Kai Properties Limited

Sun Hung Kai Properties Limited is committed to “Building Homes with Heart”, through developing premium quality projects for residential, office and retail purposes as well as offering first-class customer-focused service over the years. Since its listing in Hong Kong in 1972, SHKP has built many distinctive projects that become landmarks reflecting the growth of Hong Kong and define the city as a major international metropolis. The Group is now one of Hong Kong’s leading property developers. Its International Commerce Centre, the tallest building in Hong Kong, forms the stunning Victoria Harbour Gateway with Two IFC on the Central waterfront.  The Group’s Hotel Division now has 15 properties in operation, consisting of its own Royal brand series as well as those run by international chains, with three on the Mainland.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company offering 21 premier brands. As of June 30, 2020, the Company's portfolio included more than 900 hotel, all-inclusive, and wellness resort properties in 65 countries across six continents. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top employees, build relationships with guests and create value for shareholders. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences, vacation ownership properties, and fitness and spa locations, including under the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination®Hyatt Regency®, Hyatt®, Hyatt Ziva, Hyatt Zilara, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, Joie de Vivre®Hyatt House®, Hyatt Place®, tommie™UrCove, Hyatt Residence Club® and Exhale® brand names, and operates the World of Hyatt® loyalty program that provides distinct benefits and exclusive experiences to its valued members. For more information, please visit

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, the short- and longer-term effects of the COVID-19 pandemic, including on the demand for travel, transient and group business, and levels of consumer confidence; actions that governments, businesses, and individuals take in response to the COVID-19 pandemic or any future resurgence, including limiting or banning travel; the impact of the COVID-19 pandemic, and actions taken in response to the COVID-19 pandemic or any future resurgence, on global and regional economies, travel, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretionary spending; the ability of third-party owners, franchisees or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic; the pace of recovery following the COVID-19 pandemic or any future resurgence; 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; levels of spending in business and leisure 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 such as earthquakes, tsunamis, tornadoes, hurricanes, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases or fear of such outbreaks, such as the COVID-19 pandemic; 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 and common stock repurchase program and quarterly dividend, including a reduction in or elimination 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 capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and the introduction of new brand concepts; the timing of acquisitions and dispositions, and our ability to successfully integrate completed acquisitions with existing operations; 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 and operating costs; foreign exchange rate fluctuations or currency restructurings; 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 industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; violations of regulations or laws related to our franchising business; 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 Report on Form 10-Q filed on May 7, 2020, 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.

Jean Miu
Hyatt – Greater China
+86 21 6081 1234

Connie Law
Sun Hung Kai Properties 
+852 2828 8675