CHICAGO (March 22, 2019) – Hyatt Hotels Corporation (NYSE: H) announced today strong U.S. growth for its Hyatt Centric brand portfolio, including development plans to build Hyatt Centric hotels in downtown Memphis, Tenn., downtown Nashville, Tenn., and downtown Austin, Texas. Designed for a growing segment of savvy explorers seeking shareable moments to inspire others, the Hyatt Centric brand currently has 26 properties across 11 countries, including Chile, France, India, Japan, Spain and more.
“We couldn’t be more pleased to see the Hyatt Centric brand grow and offer millennial-minded guests an opportunity to explore dynamic domestic destinations,” said Vice President, Global Brands, Heather Geisler. “Within the walls of each new property, guests will find a social space to connect with others and a launch pad to go out and explore all that the community has to offer.”
The 227-room Hyatt Centric Beale Street will be developed through a joint venture between affiliates of Hyatt and Carlisle Hotels, Inc. The hotel will be developed within Carlisle’s One Beale Street mixed-use project, to be located at the intersection of Beale Street and Front Street, just one block east of the Mississippi River and Riverside Drive. In addition to 227 guestrooms, Hyatt Centric Beale Street Memphis will feature a rooftop lounge, offering breathtaking views of the city’s skyline and Mississippi River, as well as a ground floor lobby containing the hotel restaurant, bar and fitness center. Just off the lobby, guests will also enjoy an open-air courtyard with an outdoor swimming pool and fire pit, plus more than 14,000 square feet of meeting and event space located on the other side of the courtyard within the historic Wm. C. Ellis & Sons Ironworks and Machine Shop. Hotel construction is slated to begin in the second quarter of 2019, with an anticipated opening date by the end of 2020. Local Memphis design house, HBG Design, has been engaged for the hotel project.
Hyatt also announced a joint venture with C. B. Ragland of Nashville to develop Hyatt Centric Downtown Nashville, a 252-room new build with a restaurant, bar, amenity deck with a rooftop pool, 4,500 square feet of meeting and event space and 4,000 square feet of leasable retail space. Expected to open in Q2 2021, the hotel will be managed by Hyatt. Hyatt Centric Downtown Nashville will be located within the entertainment district of Music City, one block from Ascend Amphitheater, three blocks south of the city’s famed lower Broadway and four blocks from Bridgestone Arena and Nissan Stadium. Adventurous guests will be within walking distance of the Schermerhorn Symphony Center, Tennessee Performing Arts Center and the Ryman Auditorium.
The 233-room Hyatt Centric hotel in downtown Austin will be a new build, wholly owned by Hyatt. Centrally located on Congress Street, the hotel is expected to open in mid-2020 and will be near the State of Texas capitol building. A passionate team with local expertise will recommend to guests shareworthy experiences all along Congress Street, a must-stroll for visitors and locals alike.
“We are excited to introduce the ‘in-the-now’ Hyatt Centric brand to the iconic southern cities of Memphis, Nashville and Austin, connecting guests to the heart of the action so they never miss a moment of adventure,” said Stephen Kallaher, vice president, corporate development, Hyatt. “Hyatt looks for locations that are consistent with its objective to grow in strategically diverse destinations where our guests want us to be. These dynamic, historic cities certainly accomplish that goal, and great developers like Carlisle and C.B. Ragland will help make our Memphis and Nashville projects even more special. With the three new Hyatt Centric hotels, we look forward to offering new and distinct lifestyle hotel experiences to the residents and visitors of these cities, World of Hyatt members and Hyatt’s loyal group of meeting and event planners.”
These developments are in addition to recently announced Hyatt Centric hotels in Los Angeles’ Koreatown neighborhood, near Rittenhouse Square in Philadelphia and near downtown Portland, Ore. Further expanding the Hyatt Centric brand’s global footprint, these developments will join newly open hotels in Midtown Atlanta; Bangalore, India; Goa, India; Lima, Peru; Brickell, Miami; and Santiago, Chile.
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 Centric
Hyatt Centric is a brand of full-service lifestyle hotels located in prime destinations. Created to connect guests to the heart of the action, Hyatt Centric hotels are thoughtfully designed to enable exploration and discovery so they never miss a moment of adventure. Each hotel offers social spaces to connect with others in the lobby, meanwhile the bar and restaurant are local hot spots where great conversations, locally inspired food and signature cocktails can be enjoyed. Streamlined modern rooms focus on delivering everything guests want and nothing they don’t. A passionately engaged team is there to provide local expertise on the best food, nightlife and activities the destination has to offer. For more information please visit hyattcentric.com. Follow @HyattCentric on Facebook and Instagram, and tag photos with #HyattCentric.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 19 premier brands. As of December 31, 2018, the Company's portfolio included more than 850 properties in 60 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 colleagues, 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®, Hyatt House®, Hyatt Place®, Joie de Vivre®, tommie™, 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 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; 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.