U.S. markets open in 7 hours 51 minutes

Hyatt Announces Plans for a Grand Hyatt Branded Hotel in Makkah

The 756-room property will mark the first hotel under the Grand Hyatt brand in the Holy City of Makkah

Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Umm Alqura for development and construction of a Grand Hyatt branded hotel in the Holy City of Makkah in the Kingdom of Saudi Arabia. Located in close proximity to the Grand Mosque, the hotel will be an integral component of the King Abdul Aziz Road (KAAR) mixed-use urban development project, designed to support one of the fastest-growing religious tourism markets in the world.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200229005002/en/

Guestroom at Grand Hyatt Makkah (Photo: Business Wire)

"The Kingdom of Saudi Arabia is one of Hyatt’s prime focus areas within the Middle East," said Ludwig Bouldoukian, regional vice president of development, Middle East and North Africa for Hyatt. "The country’s significant strides to boost tourism complements our own commitment to creating a pipeline in markets that matter most to guests and World of Hyatt members. Consequently, the opening of Grand Hyatt Makkah will strengthen the Kingdom’s vision to attract more tourists and offer guests an elevated, luxury experience with plans to open further properties in the Holy City in the near future."

Slated to open in January 2025, Grand Hyatt Makkah will be the first Grand Hyatt hotel in Makkah and the second Grand Hyatt hotel in the Kingdom of Saudi Arabia, joining Grand Hyatt Al Khobar which is slated to open in 2020. The hotel is uniquely designed to celebrate iconic cultural facets and evoke a welcoming service to create exceptional moments for its guests. Grand Hyatt Makkah will feature interiors that integrate materials and artwork representing Islamic tradition, whilst maintaining the detailed design and luxurious services synonymous with the Grand Hyatt brand.

"Grand Hyatt Makkah represents a prestigious addition to the King Abdul Aziz Road project, which will contribute to our goal of better serving the needs of visitors and residents in Makkah," said Yasser Abuateek, CEO of Umm Alqura for Development and Construction. "One of our key ambitions is also to add value to the local real estate market, and by introducing globally renowned brands we are making significant strides towards achieving this objective. We look forward to further exciting announcements as our project continues to move forward with enhancing Makkah’s transport and tourism infrastructure in support of Vision 2030, the Kingdom’s inspiring roadmap for the future."

"We are delighted to work with Umm Alqura to open the first Grand Hyatt hotel in the Holy City of Makkah," said Peter Fulton, group president – Europe, Africa, Middle East and Southwest Asia, Hyatt. "The Kingdom’s plan is to attract more than 30 million tourists by 2030 and we are proud to be able to contribute to this vision. Grand Hyatt Makkah is set to become a captivating destination of its own, welcoming both visitors and pilgrims to this important cultural and religious destination."

For more information on the Grand Hyatt brand and its range of properties worldwide, visit grandhyatt.com and connect with the Grand Hyatt brand on Facebook and Instagram.

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 Grand Hyatt

Around the world, Grand Hyatt hotels bring travel dreams to life by celebrating the iconic in small details and magnificent moments. Located at the crossroads of local culture and global business within major gateway cities and resort destinations, each Grand Hyatt hotel is uniquely designed to be a captivating destination within a destination. Grand Hyatt hotels deliver welcoming and elevated service, first-class accommodations and an abundance of options within a multicultural backdrop of dramatic architecture and bold and vibrant design. Grand Hyatt properties boast inventive restaurants, luxury spas, fitness centers, and business and meeting facilities. For additional information or to make a reservation, please visit grandhyatt.com. Follow @GrandHyatt on Facebook and Instagram, and tag photos with #GrandHyatt.

About Umm Alqura for Development and Construction (UAQ)

Umm Alqura was established as a closed joint-stock company through an important national partnership between the private and public sectors to effectively participate in achieving national objectives to increase the number of Makkah visitors and pilgrims in line with the Kingdom’s Vision 2030.

The King Abdulaziz Road Project in Makkah will become the main artery for a group of development projects, particularly in the area surrounding the Haram Al Sharif. The project is one of the most important developmental and urban projects as it is based on an integrated infrastructure that will transform transportation and development in Makkah and fulfill the aspirations of the Kingdom’s leadership to upgrade Makkah on an urban, environmental and social scale, and make it a leading global destination by providing easy and diverse options for transport, shopping and accommodation.

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 December 31, 2019, the Company's portfolio included more than 900 hotel, all-inclusive, and wellness resort properties in 65 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 employees, 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.

Forward-Looking Statement

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 the 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 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; 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 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; the timing of acquisitions and dispositions, and our ability to successfully integrate completed acquisitions with existing operations; 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; changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program; cyber incidents and information technology failures; 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200229005002/en/

Contacts

MEDIA CONTACTS:
Gloria Kennett
Hyatt
312-780-5506
gloria.kennett@hyatt.com

Noha Belhaj
Corporate Communications Manager, Middle East and North Africa – Hyatt
+971 56 818 50 26
Noha.belhaj@hyatt.com