Hyatt Place

Hyatt Hotels

Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a contract with Jersan LLC to develop a Hyatt Place hotel in Jermuk, Armenia. Expected to open in 2015, Hyatt Place Jermuk will mark the second Hyatt-branded hotel in Armenia, joining the recently opened Hyatt Place Yerevan.

"We are delighted to announce the development of a second Hyatt Place hotel in

Armenia and further expand Hyatt's brand presence across the region"

"We are delighted to announce the development of a second Hyatt Place hotel in

Armenia and further expand Hyatt's brand presence across the region," said Peter Norman, senior vice president, acquisitions and development for Hyatt – Europe, Africa, and Middle East. "We look forward to welcoming guests to Hyatt Place Jermuk, where they will experience the authentic hospitality and purposeful service for which the Hyatt Place brand is known."

"We are honored to work with Hyatt as the company continues to expand its brand

presence in Armenia," said Samvel Sargsyan, director, Jersan LLC. "We have worked with Hyatt on several previous developments and feel privileged to work alongside the company once again. Given Hyatt's strong brand name and the new hotel's convenient location, we believe that Hyatt Place Jermuk will attract both business and leisure travelers from across the region."

The 88-room, new-build hotel will be situated in the center of Jermuk Resort, a resort

currently being redeveloped by the Armenian government that is known for its hot springs and providing bottled water in the area. Hyatt Place Jermuk will offer more than 1,800 square feet (170 square meters) of meeting space, an open market with made- to-order meals and snacks around the clock, a restaurant offering breakfast, lunch and dinner, a fitness center, and an indoor and outdoor swimming pool.

Guests staying at Hyatt Place Jermuk will be able to discover the discreet charm of

Jermuk, a mountain resort town known for its thermal water spas. The hotel will also be an ideal base for guests to explore the natural beauty and cultural heritage sites of Armenia, including the mountains of Vayots Dzor and the 1,000-year old Gndevank Monastery. Less than three hours away from the Armenian capital Yerevan, Jermuk regularly hosts international chess events, including the World Chess Federation Grand Prix tournaments.

About Hyatt Place

Launched in 2006, the Hyatt Place brand brings to the upscale select service hotel

category the authentic hospitality for which Hyatt is known. Inspired by multitasking travelers' 24/7 lifestyle, Hyatt Place hotels combine style with casual hospitality. Featuring spacious guestrooms with the Cozy Corner, free Wi-Fi, the 24/7 Gallery Menu, Coffee to Cocktails Bar, and free hot breakfast with your stay. The Odds & Ends program also has guests covered with items they may have forgot and can buy, borrow or enjoy for free. Specially trained Gallery Hosts are on hand to offer assistance with everything from directions to check-in to a freshly made meal.

Hyatt Place, a brand of Hyatt Hotels Corporation, offers more than 190 locations in the

United States, Armenia, Costa Rica, India, Mexico, Puerto Rico and the Netherlands. For Hyatt Place information or to make a reservation, call 1-888-HYATT-HP (888-492-8847) or visit www.HyattPlace.com.

The term "Hyatt" is used in this release for convenience to refer to Hyatt Hotels

Corporation or one or more of its affiliates.

About Jersan LLC

Jersan LLC is an Armenian limited liability company established in 2007 to develop and

own hotels and engage in tourism activities.

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

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.