Hyatt Hotels Corporation (NYSE:H) today announced that a Hyatt affiliate has entered into a management agreement with an affiliate of Huayuan Property Co., Ltd for a Grand Hyatt hotel in Changsha, Hunan Province in central China.
“Changsha has established itself as a major hub for global business and entertainment, and we are honored to have the opportunity to bring the Grand Hyatt brand to such a great city,” said Mark Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation at the agreement signing in Changsha earlier today. “Throughout our 40 years in China, we have showed thousands of guests how our associates can meet and exceed their needs, and we look forward to bringing Hyatt’s signature authentic hospitality to such a dynamic and historic city.”
Grand Hyatt Changsha will be centrally located in the most prestigious commercial and business areas along the Xiangjiang River in downtown Changsha. The hotel will be part of “The Central,” a mega mixed use complex that will incorporate high-end residential buildings, office spaces, and luxury shopping facilities. Situated on the upper floors of an iconic 268-meter-high skyscraper, Grand Hyatt Changsha will enjoy unobstructed views over the city and the river, and is expected to become the new landmark of Changsha. The 324-room hotel will feature an array of restaurants and bars, multi-purpose meeting and banquet facilities, a fitness center, a pool and a spa, and is expected to create over 500 new jobs.
“We are very pleased to work with Hyatt on such an exciting and significant project. We look forward to our collaboration with Hyatt in further developing the high-end hotel market in Changsha,” said Ren Zhiqiang, Chairman of Huayuan Property Co., Ltd.
For more information, please visit www.hyattdevelopment.com.
About Grand Hyatt
Grand Hyatt features large-scale, distinctive hotels in major gateway cities and resort destinations. With presence around the world and critical mass in Asia, Grand Hyatt hotels provide sophisticated global business and leisure travelers with upscale accommodations. Signature elements of the Grand Hyatt include dramatic architecture, innovative dining options, state of the art technology, spa and fitness centers and comprehensive business and meeting facilities appropriate for corporate meetings and social gatherings of all sizes.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place® and Hyatt HouseTM brand names and has locations on six continents. Hyatt House is changing its brand identity from Hyatt Summerfield Suites®. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Residence ClubTM. As of December 31, 2012, the Company's worldwide portfolio consisted of 500 properties in 46 countries. 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 actual results 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; if our third-party owners, franchisees or development partners are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital 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 SEC. We caution you not to place undue reliance on any forward-looking statements, which are made 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 laws. 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.
- Travel Accommodations
- Travel & Tourism