CHICAGO (October 24, 2017) – Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a franchise agreement with HR Group for a Hyatt House hotel in Frankfurt, Germany. Expected to open in late 2019, the hotel will be owned by benchmark. REAL Estate Development GmbH and will be leased and managed by HR Group. Hyatt House Frankfurt/Eschborn will mark the second Hyatt House and third select service hotel for Hyatt in Germany, an important step towards increasing Hyatt’s portfolio throughout the country.
The Hyatt House brand is rooted in extensive consumer insights indicating that guests seek stylish, comfortable, seamless experiences that accommodate their lifestyles and familiar routines. To embody this, the brand offers casual hospitality and purposeful service in a smartly designed, high-tech and contemporary environment.
“We are delighted to announce plans for the second Hyatt House hotel in Germany,” said Guido Fredrich, Hyatt’s regional vice president acquisitions and development for Europe. “We continue to grow the Hyatt House brand thoughtfully in key markets around the world, and we believe Hyatt House Frankfurt/Eschborn will provide an exciting new hotel experience for guests visiting Frankfurt, one of Germany’s most important hotel markets.”
Rusan Husry, managing director of HR Group, added, “We strongly believe in the further development potential of the hotel market in the greater Frankfurt area. Entering into our first franchise agreement with Hyatt displays a further milestone in the growth path of our group.”
The new Hyatt House hotel will be located in Frankfurt Eschborn, a well-established business area on Frankfurt’s Ring Road, known to be the city’s international financial and economic center. The hotel’s immediate surrounding area is currently home to numerous high-profile corporations. Eschborn benefits from a great infrastructure with easy access to the main highways, convenient connections into Frankfurt city center and Frankfurt airport. It also offers a range of local amenities such as shopping facilities, restaurants, and recreation areas.
“The combination of the hotel’s extended stay offering and ideal location will be very attractive for business travelers and we are excited to introduce the Hyatt House brand to Frankfurt, Europe’s financial hub,” said Götz U. Hufenbach, managing partner of benchmark. REAL Estate Development GmbH. “We believe that Hyatt House Frankfurt/Eschborn will cater to a growing extended stay market in Germany and we look forward to welcoming guests and making them feel at home.”
Hyatt House Frankfurt/Eschborn will offer:
There are five Hyatt-branded hotels currently open in Germany, namely Park Hyatt Hamburg, Grand Hyatt Berlin, Hyatt Regency Cologne, Hyatt Regency Düsseldorf, and Hyatt Regency Mainz. In addition to Hyatt House Frankfurt/Eschborn, there are three Hyatt-branded hotels currently under development: Hyatt House Düsseldorf/Andreas Quarter (expected to open in October 2017), Hyatt Place Frankfurt Airport (expected to openin January 2018) and Andaz Munich (expected to openin Q3 2018).
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 Hyatt House
Hyatt House, a brand of Hyatt Hotels Corporation, launched in 2012 and offers more than 75 locations throughout the United States, China and Puerto Rico. Inspired by extensive research into guest experiences, Hyatt House hotels offer services, amenities, upscale spaces and a casual, comfortable environment that reminds guests of home. For more information, please visit hyatthouse.com. Join the conversation on Facebook, and tag photos with #HyattHouse and #WhySettle.
About benchmark. REAL Estate Development GmbH
benchmark. REAL Estate Development GmbH designs, plans, realizes and markets real estate projects in high-potential German regions. With a focus on office, hotel and residential properties, the company offers services along the entire real estate development value chain from its offices in Frankfurt/Main and Duisburg. It autonomously develops sustainable projects with a high standard of construction for turnkey handover to institutional investors or family offices. Together, the management team can boast more than 40 years of proven expertise in the project development sector.
About HR Group
HR Group is one of the fastest growing hotel groups in Europe. As of today the group operates more than 30 hotels in Germany, The Netherlands and Spain. Most of the properties are owned. HR Group mainly cooperates with leading franchise partners and plans to further expand on the basis of acquisitions and lease contracts.
For further information:
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 13 premier brands. As of June 30, 2017 the Company's portfolio included 731 properties in 56 countries. 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 create value for shareholders, build relationships with guests and attract the best colleagues in the industry. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences and vacation ownership properties, including under the Park Hyatt®, Miraval®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound Collection by Hyatt™, Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™ and Hyatt Residence Club® brand names and have locations on six continents. For more information, please visit www.hyatt.com.
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 our actual results, performance or achievements to differ materially from current expectations include, among others, the rate and 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; 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 the introduction of new brand concepts; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; general volatility of the capital markets and our ability to access such markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the U.S. Securities and Exchange Commission. 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.
# # #
+1 312 780 5797
Hyatt – Europe, Africa and Middle East
+41 44 279 1226