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Hyatt Announces Plans for Hyatt Regency Almaty, Rahat Palace

Exterior view of Hyatt Regency Almaty, Rahat Palace (Photo: Business Wire) Multimedia Gallery URL

CHICAGO--(BUSINESS WIRE)--

Hyatt Hotels Corporation (NYSE:H) announced today a management agreement between JSC Kazakh-Austrian Joint Venture (“Rahat JSC”) and a Hyatt affiliate for the development of Hyatt Regency Almaty, Rahat Palace. Slated to open in 2019, the 292-room hotel will be managed as Hyatt Regency Almaty, Rahat Palace. The former Hyatt Regency Almaty operated in the same building between 1995 and 2011.

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“We are delighted to announce the return of the Hyatt Regency brand to Almaty and bring a globally recognized brand to the city that will resonate well with the growing base of business travelers,” said Takuya Aoyama, vice president, development for Eastern Europe, Russia & CIS at Hyatt. “We look forward to collaborating with Rahat JSC, and believe the hotel will be an exciting development as we build on the strength of the Hyatt Regency brand throughout Central Asia.”

Located on Satpaev Avenue in the center of Kazakhstan’s commercial and financial capital, the former Hyatt Regency hotel was a popular hub that brought together guests and locals alike. Hyatt Regency Almaty, Rahat Palace will continue to foster connections and will be designed to link business and leisure travelers to all the city has to offer. The building will undergo renovations that will offer a one-stop experience, designed with everything under one roof. Featuring smartly configured guestrooms, imaginative culinary experiences, and a multi-functional lobby, the hotel will offer a variety of places to work, connect, eat and drink. The hotel will also feature the signature Hyatt StayFit gym and an indoor swimming pool.

The Hyatt Regency brand has a long history of creating effortless experiences for groups and the hotel will be a stress-free choice for special occasions and events with its fully modernized meeting and event facilities including a 2,368 square foot ballroom.

“The Hyatt Regency brand has a special place in the history of Rahat Palace, and we look forward to this new relationship with Hyatt,” said Alexery Kravtsov, acting general director, Rahat JSC. With the combination of the strong Hyatt Regency brand experience and the excellent location, we believe Hyatt Regency Almaty, Rahat Palace will provide a vibrant stay and one-stop convenience to business and leisure travelers. The hotel will set the stage for dynamic interactions and it’ll feature multiple community gathering places – areas to relax, meet, engage, and recharge.”

For more information on the Hyatt Regency brand, please visit hyattregency.com.

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 Regency

The Hyatt Regency brand prides itself on connecting travelers to who and what matters most to them. More than 180 conveniently located Hyatt Regency urban and resort locations in over 30 countries around the world serve as the go-to gathering space for every occasion – from efficient business meetings to memorable family vacations. The brand offers a one-stop experience that puts everything guests need right at their fingertips. Hyatt Regency hotels and resorts offer a full range of services and amenities, including the space to work, engage or relax; notable culinary experiences; technology-enabled ways to collaborate; and expert event planners who can take care of every detail. For more information, please visit hyattregency.com. Follow @HyattRegency on Facebook, Twitter and Instagram, and tag photos with #AtHyattRegency.

About Rahat JSC

Rahat JSC is part of Almaly, a holding company which comprises 30 entities in the field of natural gas extraction, petrochemical, food processing, trading, retail and hospitality, including Rahat Palace Hotel, Essentai Mall and Almaly Shopping Center. One of Almaly’s group companies, Food Solutions KZ, develops, owns and operates McDonald’s restaurants in Kazakhstan. Almaly also sponsors Kairat Football Club, and supports a NGO dedicated to the development and education of children and adolescents with disabilities from age 1 to 16.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 14 premier brands. As of March 31, 2018, the Company's portfolio included more than 700 properties in more than 50 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®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound Collection by Hyatt®, Hyatt Place®, Hyatt House®, Hyatt Ziva, Hyatt Zilara, Hyatt Residence Club® and exhale® brand names. 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. 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 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 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 the introduction of new brand concepts; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; general volatility of the capital markets and our ability to access such 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 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.

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