CHICAGO (December 17, 2019) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a franchise agreement with Primehotels Oy for the first Hyatt property in Finland. Expected to open in 2022, the 224-room Grand Hansa Hotel will become the first The Unbound Collection by Hyatt property in the Nordics as the brand enjoys continued momentum across Europe.
Incorporating references to Finnish folklore and mythology, Grand Hansa Hotel’s historical façade will represent the city’s fascinating past. Combined with Helsinki’s vibrant atmosphere, the hotel will provide independently minded guests with one-of-a-kind experiences reflecting The Unbound Collection by Hyatt brand ethos. Prior to its opening, the hotel will undergo a renovation leading to the development of 224 upscale guestrooms and a newly built entrance. The large ground floor space will allow for significant food and beverage offerings, as well as extensive conference and meeting facilities.
The Grand Hansa Hotel will benefit from the strong demand of both business and leisure travelers to Helsinki with forecasts predicting 30 million passengers by 2030. Strategically located opposite of the Central Railway Station and only a 30-minute train or taxi ride from the award-winning Helsinki Airport, business travelers will be in the immediate vicinity of key industries and Government entities, including the University of Helsinki’s central campus. Leisure guests will also benefit from being within a five-minute walk from nearby shopping outlets and tourist attractions such as the Helsinki Market Square and Finnish National Theater.
“We are thrilled to see the development of Grand Hansa Hotel in the Nordics as Finland is an important market for us,” said Guido Fredrich, Hyatt's regional vice president of development for Europe. “We are excited by the growth we have seen in Helsinki’s tourism sector in recent years. The region’s rich history and distinct culture make The Unbound Collection by Hyatt brand a natural fit for Grand Hansa Hotel, as we grow our brand presence in the European luxury market.”
“We are thrilled to be working with Hyatt for their first hotel in Finland,” said Tomi Peitsalo, CEO of Primehotels Oy. “As an internationally trusted brand, we believe Hyatt represents the perfect fit with Primehotel’s growth strategy. Together with our expertise and great reputation, we will successfully bring this historic building to life.”
“We are committed to building a sustainable Helsinki today, for tomorrow,” said Antti Kerppola, CEO of Ylva, the owning company of Grand Hansa Hotel. “Together with Hyatt and Primehotels Oy we will be able to deliver a prestigious development with high-quality services that our city deserves.”
Grand Hansa Hotel will become the eighth addition to the expanding The Unbound Collection by Hyatt portfolio in Europe. It will join the Hôtel du Louvre in Paris, Párisi Udvar Hotel in Budapest, Hôtel Martinez in Cannes, Nish Palas in Istanbul, Sofia Barcelona in Spain, Hôtel du Palais, Biarritz and the recently opened Great Scotland Yard Hotel in London.
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 Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 20 premier brands. As of September 30, 2019, the Company's portfolio included more than 875 properties in over 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®, Caption by Hyatt, Joie de Vivre®, Hyatt House®, Hyatt Place®, 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.
The Unbound Collection by Hyatt
The Unbound Collection by Hyatt brand is a portfolio of independent, premium hotel properties, ranging from historic urban gems to contemporary trend-setters and boutique properties to resorts. Whether it is a fascinating past, an exclusive location, famous architecture and design, or an award-winning dining experience, each of the brand’s 19 hotels has its own distinct narrative and creates novel, story-worthy experiences for guests. In markets from Barcelona to Budapest, guests can be inspired by hidden gems around the world. For a full list of hotels in the collection, visit unboundcollection.hyatt.com. Follow @UnboundxHyatt on Facebook and Instagram and tag your photos with #TellYourTale.
About Primehotels Oy
Primehotels Oy is a private Finnish company that owns, builds and operates premium hotels in multiple locations across Finland. Primehotels appears to be more of a collection than a chain of hotels because of the unique personality and atmosphere each of these hotels have.
Primehotels will strongly invest in growth during the coming years. In addition to Grand Hansa Hotel, a unique modern luxury hotel in Helsinki’s city center, the company's growth strategy over the next few years will include several new and interesting hotel units.
Ylva’s goal is to contribute to the construction of an international, sustainable city of tomorrow. Our business activities focus on real estate and financial investments along with the hotel and restaurant sector. Our owner is the Student Union of the University of Helsinki and our profits are used to promote student activities. We have been part of Helsinki’s cityscape for 150 years and our business operations focus on long-term planning. For us, profitability means sustainable decisions that will keep us integrated with the city and the society for the next 150 years as well.
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. These statements include statements about our plans, strategies, outlook, occupancy, ADR and growth trends, market share, the number of properties we expect to open in the future, our expected adjusted SG&A expense, our estimated comparable system-wide RevPAR growth, our estimated Adjusted EBITDA growth, our expected net rooms growth, maintenance and enhancement to existing properties capital expenditures, investments in new properties capital expenditures, depreciation and amortization expense and interest expense estimates, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. 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All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. 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 do not undertake or assume any 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.
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Hyatt – Europe, Africa and Middle East and Southwest Asia
+41 44 279 1226