First Hyatt Place Hotel Opens in NYC

Hyatt Hotels Corporation (NYSE: H), Chesapeake Lodging Trust (NYSE: CHSP) and Real Hospitality Group today announce the opening of Hyatt Place New York/Midtown-South, marking the first Hyatt Place property to debut in New York City. The new Midtown Manhattan location represents a move into downtown urban locations for the upscale select service brand, which has grown by nearly 18 percent in the past three years.

"New York is a significant and exciting market that represents so many opportunities for us as we look for meaningful growth across our portfolio of brands," said Rakesh Sarna, group president – Americas, Hyatt Hotels Corporation. "The opening of the city's first Hyatt Place is a significant step forward in our goal to become the most preferred brand for our guests, and we can't wait to show New Yorkers and its many visitors from around the world what Hyatt Place is all about."

Earlier this month, a Hyatt Place hotel opened in downtown Austin, Texas, and other downtown locations are expected to open this year in Chicago's River North neighborhood; Minneapolis, Minn.; Charlotte, N.C.; Omaha, Neb.; Nashville, Tenn; Panama City, Panama; and Santiago, Chile. In 2014, the company anticipates additional urban, downtown openings for the brand in New York City's Times Square and Flushing; Washington D.C.'s NoMa neighborhood, and Lincoln, Neb.; among others.

"Hyatt Place guests may be accustomed to seeing our brand in suburban and airport locations, but we feel there is also demand in downtown locations for the accessibility, convenience and overall experience the brand provides. Hyatt Place delivers a seamless experience to meet the needs of our guests' multi-tasking 24/7 lifestyles, so what better place to showcase that experience than The City that Never Sleeps," said Chris Walker, vice president of brands, Hyatt Place and Hyatt House. "We look forward to introducing a new group of customers to the Hyatt Place brand."

About Hyatt Place New York/Midtown-South

Hyatt Place New York/Midtown-South is ideally located on W 36th Street, between 5th and 6th Avenues, in the heart of Manhattan. The hotel offers close proximity to many of the city's most famous sights and attractions, including Times Square, the Empire State Building, Madison Square Garden, Radio City Music Hall and the theaters of Broadway. In addition to its location in central Manhattan, the single busiest commercial district in the United States, the hotel also provides convenient access to Herald Square, Rockefeller Center and Penn Station.

"We are thrilled to announce our second hotel in the highly desired midtown area of Manhattan. This acquisition furthers our strategic relationship with Hyatt Hotels through ownership of the first Hyatt Place property in Manhattan, said James L. Francis, president and chief executive officer, Chesapeake Lodging Trust. "This brand is the perfect fit for New York and the blended lifestyle of work and play."

Hyatt Place New York/Midtown-South offers:

• 185 well-appointed guestrooms, all of which feature a 42-inch HDTV, the plush Hyatt Grand Bed® and a seven-foot sofa
• Complimentary Wi-Fi access throughout the hotel
• Complimentary a.m. Kitchen Skillet ^TM, featuring freshly prepared breakfast sandwiches, a variety of fresh fruits, hot and cold cereal, yogurt, breads, premium coffee and an assortment of juices
• 250 square feet of flexible, high-tech meeting/function space
• 24/7 Gallery Menu serving made-to-order entrees and appetizers
• Intimate Bakery Café featuring specialty coffees, premium beers, wines and cocktails

"New York is filled with some of the world's finest dining and shopping, entertainment venues, businesses, historic landmarks and attractions, art galleries and museums – there is so much to see and so much to do for both business travelers and tourists," said Jason Crotto, general manager, Hyatt Place New York/Midtown-South. "I believe the Hyatt Place brand will thrive in this city with its open, intuitive design, casual atmosphere, and practical amenities. We look forward to serving the needs of New York City's diverse and savvy travelers."

"We are proud to operate New York City's very first Hyatt Place, and we believe the brand's unique design and style will appeal to domestic and international travelers visiting the city," said Rick Day, chief operating officer, Real Hospitality Group. "We are enthusiastic about bringing the Hyatt Place name to Manhattan and adding this property to our growing portfolio of hotels."

HYATT PLACE NEW YORK/MIDTOWN-SOUTH LEADERSHIP

Hyatt Place New York/Midtown-South is under the leadership of General Manager Jason Crotto and Director of Sales Patricia Troy. In his role, Crotto is directly responsible for managing the day-to-day operations of the hotel, including overseeing the hotel's 50 associates and ensuring guests encounter the purposeful service for which Hyatt Place is known. Troy is responsible for providing sales service and support to travelers and meeting planners frequenting the New York City area.

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 September 30, 2023, the Company's portfolio included more than 1,300 hotels and all-inclusive properties in 76 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

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