Hyatt Announces Land Purchase for the Construction of Grand Hyatt Rio De Janeiro
Hotel Will Be Second Hyatt-branded Property in Brazil
Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has acquired a majority interest in a 46,000 square meter ocean-front property in Barra da Tijuca, an upscale residential and commercial district of Rio de Janeiro, Brazil, for the purpose of developing a 408-room Grand Hyatt hotel on the site.
Grand Hyatt Rio de Janeiro will be located directly across from the beach in Barra da Tijuca and will feature two full service restaurants, a lounge/bar, pool bar, patisserie, fitness center and spa, and a 900 square meter grand ballroom, along with 1,300 square meters of additional meeting and function space.
"Grand Hyatt Rio de Janeiro will be a terrific addition to the collection of 36 spectacular Grand Hyatt hotels around the world today, and will be a strong complement to the 470-room Grand Hyatt in Sao Paulo," said Myles McGourty, senior vice president, Latin America for Hyatt Hotels & Resorts.
"Rio de Janeiro is the second largest city in Brazil and a strong international destination, making it an important market for both business and leisure travelers," said Pat McCudden, senior vice president, real estate and development – Latin America, Caribbean, and Mexico for Hyatt Hotels & Resorts. "Expanding our presence in Brazil is a critical component in our international expansion strategy and the development of Grand Hyatt Rio de Janeiro represents a significant opportunity to further Hyatt's goal of becoming the most preferred brand in all the segments we serve by expanding in locations where Hyatt brands are not represented or are under-represented."
Grand Hyatt hotels feature spectacular, distinctive properties in major gateway cities and resort locales around the world. Signature elements include stand alone buildings in large city centers or mixed-use developments with a dramatic lobbies, innovative dining options, state of the art technology, distinctive spa and fitness centers, and comprehensive business and meeting facilities. In addition to Grand Hyatt Rio de Janeiro, ten other Grand Hyatt properties are currently under development around the world.
Hyatt's current portfolio in Latin America includes hotels in Argentina, Brazil, Chile, and Mexico. As of September 30, 2010, Hyatt has opened 25 properties worldwide this year among all its hotel brands.
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 June 30, 2024, the Company's portfolio included more than 1,350 hotels and all-inclusive properties in 78 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Vacation 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®, Mr & Mrs Smith™, 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. 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 when made, are inherently uncertain, and are subject to numerous assumptions and uncertainties, many of which are outside of Kiraku, Inc. or Hyatt's control, which could cause actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Forward-looking statements made in this press release are made only as of the date of their initial publication and neither party undertakes an obligation to publicly update any of these forward-looking statements as actual events unfold, except to the extent required by applicable law. If one or more forward-looking statements is updated, no inference should be drawn that any additional updates will be made with respect to those or other forward-looking statements.