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Hyatt and Oceanwide Holdings Announce First Park Hyatt Residences on West Coast
Billion-dollar Oceanwide Plaza development in Los Angeles takes an unparalleled “hospitality-first” approach to residential living

LOS ANGELES (June 11, 2017) – Hyatt and Oceanwide Plaza, the first North American development by prominent international developer Oceanwide Holdings, debuted plans this week for the highly anticipated Park Hyatt Los Angeles Residences at Oceanwide Plaza, which will be the first Park Hyatt-branded residences on the West Coast. With sales set to launch early 2018, the 164 exquisitely crafted residences will sit atop the new five-star Park Hyatt Los Angeles, rising 53 stories high and expanding on the highly personalized service for which the Park Hyatt brand is known.

Accompanying the premium residential offering will be an array of lifestyle amenities, providing various options for gatherings, entertainment, fitness and relaxation. All residents of Oceanwide Plaza will enjoy convenient access to the 184-room Park Hyatt Los Angeles, as well as The Collection at Oceanwide Plaza, a 166,000-square-foot open-air galleria of curated retail shops and restaurants that will revolutionize the urban lifestyle of downtown Los Angeles.

“We’re setting a new tone for what it means to live well in downtown Los Angeles by redefining urban living with an amenity and service offering never before seen on the West Coast,” said Thomas Feng, CEO of Oceanwide Plaza LLC. “The Park Hyatt Los Angeles Residences will offer quiet sophistication and personalized service at every turn. Every detail of the residential offering at Oceanwide Plaza is a result of years of planning and surveying our future owners to deliver a luxury living experience.”

Located at the pinnacle of art and culture in Los Angeles and only a short distance from the Broad Museum, Hauser & Wirth gallery, Geffen Contemporary at MOCA and Walt Disney Concert Hall, the Park Hyatt Los Angeles Residences will include one to three bedrooms ranging from 1,065 to 2,720 square feet. Starting on the 50th floor, the penthouse collection will include half-floor and duplex residences ranging from 5,500 to 8,775 square feet. All residences are custom-designed to combine sophistication with a distinctive Southern California character courtesy of interior design firm Studio Munge.

Upon arrival, homeowners will be welcomed by an inviting art-infused lobby, a 24-hour concierge, and several services curated by Park Hyatt Los Angeles. The residences will revolve around the private 23rd level amenity floor, encircled by a 360-degree all-glass view of the awe-inspiring Los Angeles landscape. The approximately 19,000 square foot private amenity floor will include a state-of-the-art fitness facility, a tranquil natural-light filled yoga studio, steam rooms and saunas for relaxation, an exhibition kitchen and private dining space, a theatre and entertainment lounge for hosting guests, lush landscaped gardens, and a resort-style pool and outdoor cabanas that will pay homage to the quintessential California lifestyle. Beyond core hotel services including housekeeping, in-room dining and pantry-stocking, additional offerings will include services such as dog-walking and grooming, floral arrangement and delivery, tailored transportation arrangement and in-residence personal training. Privacy and security will be of the utmost importance, offering residents 24/7 valet parking with the option to self-park in a designated parking space, controlled access, and a private and secure residential lobby with access from the garage.

“We are excited to bring our Park Hyatt branded residences to the West Coast and offer a sophisticated and luxurious product in the significant market of Los Angeles,” said David Tarr, senior vice president of real estate and development for the Americas for Hyatt. “We’ve been looking to build our presence in this city, and with the addition of both the Park Hyatt hotel and residences, we look forward to the positive momentum that we’ll experience.”

In addition to concierge services, residents will also be able to take advantage of a full suite of amenities located on the eighth floor, including a lush two-acre private amenity park with an event lawn overlooking the dynamic LA entertainment district, a 1/5 mile jogging track and basketball court, a resort swimming pool and spa, children's outdoor playground, two designated dog parks (one for large dogs and one for small dogs), designated dog grooming spaces and an outdoor kitchen area with lounge seating and BBQ’s. Indoor amenities include an exhibition kitchen for dining and entertaining, a game room for families, private screening rooms, a world-class fitness center and yoga room, a children’s center and an at-home workspace and library.

Sales and marketing for the Park Hyatt Los Angeles Residences and The Residences at Oceanwide Plaza will be led by The Mark Company. For more information, please visit www.oceanwideplaza.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 Oceanwide Plaza

Oceanwide Plaza is the first North American development by prominent international developer Oceanwide Holdings. Oceanwide Plaza will encompass a variety of lifestyle offerings including a five-star Park Hyatt hotel, a collection of curated retailers and restaurants and a refined residential offering bringing a new level of sophistication to L.A.’s sports and entertainment district. Immediately adjacent to the Staples Center and L.A. Live, Oceanwide Plaza will comprise three residential and hotel towers along with a lifestyle podium anchored by an approximately 166,000-square-foot open-air galleria known as The Collection at Oceanwide Plaza.  Over 700 feet of ribbon-shaped LED signage along Figueroa Street will wrap the lifestyle center as the character-defining hallmark of Oceanwide Plaza, greeting local guests and travelers from all over the world. Scheduled for completion in 2019, Oceanwide Plaza will create approximately 9,000 jobs over the duration of the project. www.oceanwideplaza.com. Follow @OceanwidePlaza on Facebook, Twitter and Instagram.

About Park Hyatt

Park Hyatt hotels provide discerning, affluent business and leisure guests with elegant and luxurious accommodations. Guests of Park Hyatt hotels receive highly attentive personal service in an intimate environment. Located in several of the world's premier destinations, each Park Hyatt hotel is custom designed to combine sophistication with a distinctive regional character. Park Hyatt hotels feature well-appointed guestrooms, meeting and special event spaces for groups, critically acclaimed art, food and beverage program, and signature restaurants featuring award-winning chefs. There are currently 39 Park Hyatt hotels in the following locations: Abu Dhabi, Bangkok, Beaver Creek, Beijing, Buenos Aires, Busan, Canberra, Changbaishan, Carlsbad, Chennai, Chicago, Dubai, Goa, Guangzhou, Hamburg, Hangzhou, Hyderabad, Istanbul, Jeddah, Maldives, Mallorca, Melbourne, Mendoza, Milan, Moscow, New York, Ningbo, Paris, Saigon, Sanya, Seoul, Shanghai, Siem Reap, Sydney, Tokyo, Toronto, Vienna, Washington, D.C., Zanzibar, Zurich. For more information, please visit parkhyatt.com. Follow @ParkHyatt on Facebook, Twitter and Instagram.

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. 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 when made, are inherently uncertain, and are subject to numerous assumptions and uncertainties, many of which are outside of Oceanwide Plaza’s or Hyatt’s control, which could cause actual results, performance or achievements to differ materially from those expressed in or implied by such statements.  Forward-looking statements made in this press release are made only as of the date of their initial publication and neither party undertakes an obligation to publicly update any of these forward looking statements as actual events unfold, except to the extent required by applicable law.  If one or more forward-looking statements is updated, no inference should be drawn that any additional updates will be made with respect to those or other forward-looking statements.

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Jorian Weiner