CHICAGO (June 7, 2023) — Hyatt Hotels Corporation (NYSE: H) announces the first phase of opening for Hyatt Regency Kotor Bay Resort, which will offer guests a premium experience in Montenegro’s stunning Kotor Bay, a UNESCO World Heritage site. The property will be the first Hyatt hotel in Montenegro, inviting both domestic and international travelers to embark on an authentic immersion of the destination. Set against the backdrop of majestic cliffs and the Adriatic Sea, the contemporary property is ideally located on the outskirts of Kotor, one of the country’s most charming cities celebrated for its preserved old town. Seamlessly blending urban convenience with breathtaking vistas along the Montenegrin coastline, guests will be surrounded by a picturesque fjord-like landscape of unparalleled beauty. With this new addition to the Hyatt Regency portfolio, the brand’s intentional growth further showcases Hyatt’s commitment to offering travel experiences in places that matter most to guests and World of Hyatt members.
“The Balkan region serves as a driving force for the rapid growth of the hospitality industry, and our Hyatt Regency brand is strategically positioned to enter emerging markets,” said Takuya Aoyama, vice president development for Hyatt. “We are honored to work with Krolbay d.o.o. Podgorica to bring our resort experience to one of Europe’s most rapidly developing destinations.”
“We are thrilled to announce the grand opening of the newly transformed Hyatt Regency Kotor Bay Resort following extensive refurbishments and expansions,” said Saša Saveljić, executive director of the hotel’s ownership group and operator, Krolbay d.o.o Podgorica. “The property draws inspiration from the surrounding area to offer guests, locals and World of Hyatt members a stay centered around relaxation and tranquility, creating the ultimate stress-free experience.”
Embracing a contemporary eco-design approach, Hyatt Regency Kotor Bay Resort places significant emphasis on the seamless blend of indoor and outdoor spaces. True to the spirit of the Hyatt Regency brand, the hotel is poised to be a go-to gathering space for every occasion – from inspiring business meetings to relaxing family vacations.
After finishing touches are completed, Hyatt Regency Kotor Bay Resort will be comprised of 205 guest rooms, offering an upscale experience inspired by the sophisticated allure of its coastal surroundings. Embracing natural hues and incorporating tastefully subdued blue design accents, the resort creates an inviting contemporary atmosphere for its guests. The property will also feature two outdoor pools, an indoor pool, and private waterfront access.
For enhanced wellbeing, guests of the resort will have access to a state-of-the-art fitness center, a dedicated space for yoga and pilates, and expansive spa facilities. These amenities provide the perfect environment for relaxation, allowing guests to find serenity while enjoying panoramic views of the bay and mountain scenery.
Hyatt Regency Kotor Bay Resort is also expected to feature six dining venues, including:
With memorable event spaces, the property sets the stage for impactful meetings and celebrations, accommodating approximately 10 to 160 guests.
For more information or to book a reservation, please visit https://www.hyatt.com/en-US/hotel/montenegro/hyatt-regency-kotor-bay-resort/tivrk or follow the hotel on Instagram @hyattregencykotorbayresort.
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 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 Impression by Secrets, 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 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. As a result, 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 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.
Hyatt – Central and Eastern Europe