CHICAGO (June 6, 2023) – Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into management and related agreements with LFG Property Pty Ltd for a Caption by Hyatt hotel in Sydney, Australia. Slated to be completed in early 2025, this development will mark the debut of the Caption by Hyatt brand in the country, which offers a hotel experience grounded in the local community where the people make the place.
The Caption by Hyatt brand strives to remix hospitality by combining the design and comfort of an upscale, lifestyle-forward hotel with the flexibility and self-guided options of a select-service property. Centered in urban and downtown locations and mixed-use developments, each property is designed to enable people to make the hotel their own through spaces for connection and community. A seamless, efficient guest experience is assured through tech-forward features such as digital check-in, digital keys, and mobile-order food service, alongside lively social and food-and-beverage concepts.
“We are excited to work with LFG Property Pty Ltd to bring the Caption by Hyatt brand to Australia for the first time. As a brand centered on enabling authentic connections and experiences for today’s tech-savvy traveler, this new development will create an environment where guests and locals alike can feel at home, in a space that reflects the character of the community,” said David Udell, group president, Asia Pacific, Hyatt. “The continued growth of the Caption by Hyatt brand in Asia Pacific also represents the Hyatt’s commitment to growing its lifestyle and leisure portfolio, engaging travelers who seek to get closer to the people who make a place what it is.”
The hotel will be centrally located in Haymarket, a vibrant multicultural neighborhood at the southern end of the Sydney Central Business District, home to the city’s Chinatown, bustling markets, lively dining scene, and the Capitol Theatre. Its location will also be in an ideal position with convenient proximity to Darling Harbor, Sydney International Convention Centre, several universities and the new Tech Central innovation and technology precinct.
Construction has begun on a purpose-built 174-guestroom hotel building design developed by GCCV architects featuring eclectic interior design courtesy of Mitchell & Eades, being constructed by Hickory Group. Anchored by a contemporary-meets-urban industrial style, the property will feature a playful layering of colors, textures, and thoughtful hand-drawn graphic art decorating vibrant social and dining spaces. A signature marquee sign will welcome guests into the hotel, leading into Talk Shop – the Caption by Hyatt brand’s food and beverage concept, a lively welcome area and all-day lounge that serves as a workspace, coffee shop, eatery, grab-and-go artisanal market and cocktail bar. Menus will feature locally inspired all-day items and will serve as the social hub of the hotel.
“Caption by Hyatt Sydney promises to not only be a prime addition to our existing hospitality portfolio, but also a compelling destination within the Haymarket district. The brand’s emphasis on integrating with the community is closely aligned with our desire to bring a new proposition to visitors as well as to local residents,” said Mr. Lu, chairman, LFG Property Pty Ltd. “We look forward to collaborating with the Hyatt team to create an exciting development that will add meaningful value to people living in and visiting the area through fresh, authentic and local experiences.”
Caption by Hyatt brand continues growth of Hyatt’s leisure and lifestyle portfolio
The first Caption by Hyatt hotel debuted in Memphis, Tenn. in 2022 with , with further openings planned for Australia, China, Japan and Vietnam over the next two years. The brand’s growth reflects Hyatt’s broader expansion of its industry-leading lifestyle and leisure portfolio. Globally, Hyatt has doubled the number of luxury rooms, tripled the number of resorts and quadrupled the number of lifestyle rooms in its portfolio in the last five years, resulting in a richly diversified range of offerings that suit the needs of both leisure and business travelers.
For more information on the Caption by Hyatt brand, visit captionbyhyatt.com.
The term “Hyatt” is used in this release to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
For further information:
MEDIA CONTACTS:
Madeleine Furley, Director of Corporate Marketing & Communications, Hyatt
Madeleine.Furley@hyatt.com
Glennie Janssen, Manager of Global Stakeholder Communications, Hyatt
Glennie.Janssen@hyatt.com
About Caption by Hyatt
The Caption by Hyatt brand redefines what hospitality looks like in the modern world. Designed to be truly of the community—not just in it—the people make the place throughout each Caption by Hyatt hotel. Caption by Hyatt hotels hire local, buy local, and vibe local. Be it an open-mic night or a pop-up art installation, each space within Caption by Hyatt hotels is programmed to reflect each destination and its community. At the heart of each Caption by Hyatt hotel is Talk Shop: an all-day spot where guests can eat, drink, get some work done, hang with friends, or just chill. Caption by Hyatt hotels offer guests a place where "you can do you and be you,” with a tech-forward mindset offering digital check-in, digital keys, mobile-order food service, Staycast streaming technology and more.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of March 31, 2023, the Company’s portfolio included more than 1,250 hotels and all-inclusive properties in 75 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Residence Club®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt®; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt®; and the Inclusive Collection, including Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.
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. These statements include statements about our plans, strategies, outlook, occupancy, the amount by which the Company intends to reduce its real estate asset base, the expected amount of gross proceeds from the sale of such assets, and the anticipated timeframe for such asset dispositions, the number of properties we expect to open in the future, booking trends, RevPAR trends, our expected Adjusted SG&A expense, our expected capital expenditures, our expected net rooms growth, our expected system-wide RevPAR, our expected one-time integration costs, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. 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Factors that may cause actual results to differ materially from current expectations include, but are not limited to: 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; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group 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, weather and climate-related events, such as earthquakes, tsunamis, tornadoes, hurricanes, droughts, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; the pace and consistency of recovery following the COVID-19 pandemic and the long-term effects of the pandemic, additional resurgence, or COVID-19 variants, including with respect to global and regional economic activity, travel limitations or bans, the demand for travel, transient and group business, and levels of consumer confidence; the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants or other pandemics, epidemics or other health crises; 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, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension 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 the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations, including with respect to our acquisition of Apple Leisure Group and Dream Hotel Group and the successful integration of each business; 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, wages, and other operating costs; foreign exchange rate fluctuations or currency restructurings; risks associated with the introduction of new brand concepts, including 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 the COVID-19 pandemic, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and Unlimited Vacation Club paid membership program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; violations of regulations or laws related to our franchising business and licensing businesses and our international operations; and other risks discussed in the Company's filings with the SEC, including our annual report on Form 10-K, which filings are available from the SEC. 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.