CHICAGO -- Hyatt Hotels Corporation (NYSE: H) today announced that a wholly owned subsidiary has entered into an agreement to purchase the 119-room Royal Palms Resort and Spa. The transaction is expected to close in July 2016. The hotel will continue to be operated as the Royal Palms Resort and Spa and will become affiliated with The Unbound Collection by Hyatt, offering a rich history and sense of place that fits the brand's promise of creating story-worthy and shareable experiences for guests.

"The acquisition of the Royal Palms Resort and Spa shows our commitment to growing this brand, as well as our commitment to guests as we aim to create an increased presence in markets where we know they are traveling," said Steve Haggerty, global head, real estate and capital strategy for Hyatt. "The Royal Palms Resort and Spa is an ideal fit for The Unbound Collection by Hyatt given the hotel's prominent positioning in the market and its ability to create experiences for our guests. We look forward to continuing to grow this brand globally in a strategic and meaningful way."

The Royal Palms Resort and Spa borders Scottsdale and Paradise Valley in Arizona. It was opened in 1929 as the home of wealthy New York financier, Delos Willard Cooke. Known as "El Vernadero" or the family's winter haven, the property drew immediate attention and became a beloved local landmark known for its Mediterranean, Spanish colonial architecture and luxurious landscaped grounds, using the famous Camelback Mountain as a design focal point.

The Royal Palms Resort and Spa offers 119 oversized guestrooms, suites, casitas and villas, as well as more than 21,000 square feet of estate-like indoor and outdoor meeting space. Its world-class amenities include the award-winning Alvadora Spa and the highly acclaimed T.Cook's restaurant, which features seasonal menus in an elegant and intimate setting. The Alvadora Spa is designed with tranquil stone interiors, and the outdoor treatment areas are set within lush, private courtyards. The resort's luxurious Desert Palm Pool includes cabanas, an outdoor lounge and spa, and The Mix Up Bar and Desert Pool Side Café, which offers creative cocktails and al fresco poolside dining. A two-story fitness center overlooks the estate that includes an orange grove and Tuscan-style gardens with stone fireplaces throughout.

The Unbound Collection by Hyatt launched in February 2016 and has since grown to six properties offering story-worthy experiences, including the newest addition of the Royal Palms Resort and Spa. Other properties in the collection include The Confidante in Miami Beach, Miami; The Driskill Hotel in Austin, Texas; the Hôtel du Louvre in Paris, France; the Carmelo Resort & Spa in Carmelo, Uruguay; and the Coco Palms Resort in Kauai, Hawaii, which is expected to undergo a revitalization and re-open in spring 2018.

Each property in The Unbound Collection by Hyatt will maintain its distinct character and the freedom to be extraordinary while providing guests and owners Hyatt's award-winning customer loyalty program, robust operational and marketing resources and trusted, quality brand.

For more information about The Unbound Collection by Hyatt, click here.

The term "Hyatt" is used in the release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

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.

Jamie Rothfeld
Hyatt
312-780-6070
Hyatt