Hyatt to Expand Luxury Portfolio in Asia Pacific with 21 New Hotels by 2020
The new Park Hyatt, Grand Hyatt, Andaz and Alila branded properties will boost Hyatt's luxury brand footprint in the region by over 25%
CHICAGO - Hyatt Hotels Corporation (NYSE: H) announced today that 21 new luxury hotels and resorts are planned to open in Asia Pacific by the end of 2020, fueling Hyatt's brand expansion in the region. This expansion is comprised of seven Park Hyatt branded properties, six hotels each under the Grand Hyatt and Andaz brands and two Alila branded resorts, boosting Hyatt's luxury portfolio in the region by more than 25%.
With this expansion, a record number of seven Park Hyatt hotels are expected to open in under two years - a significant milestone for Hyatt, which adds an average of one Park Hyatt property per year. The Andaz brand, known to offer immersive cultural experiences, is set to double its footprint in Asia Pacific with new openings in major cities such as Seoul, Dubai and Shenzhen, alongside resort destinations such as Bali, as well as Sanya and Xiamen in China.
Set to join the World of Hyatt loyalty program later this year following its integration into the Hyatt portfolio in 2018, the Alila brand will add two resorts in Malaysia and Oman next year. Together these two resorts will bring the brand's contemporary expressions of century-old traditions, authentic experiences and sustainable mindset closer to more travelers. Additionally, the Grand Hyatt brand continues its steady growth momentum with new openings in emerging cities in China, India, South Korea, Saudi Arabia and Kuwait.
"We see enormous potential to grow our luxury portfolio in Asia Pacific, which currently accounts for 40% of Hyatt's overall portfolio in the region," said Patrick Finn, senior vice president, real estate and development, Asia Pacific, Hyatt. "Hyatt has a distinct and differentiated strategy with each of our brands positioned at the high end of every segment in which we operate, and we are committed to expanding our brand footprint in major business cities, cultural destinations and leisure hot spots that resonate with developers, owners and guests."
Planned openings in 2019
- Andaz Dubai The Palm in the United Arab Emirates
- Andaz Gangnam Seoul in South Korea
- Grand Hyatt Al Khobar in Saudi Arabia
- Grand Hyatt Gurgaon in India
- Grand Hyatt Hefei in China
- Park Hyatt Auckland in New Zealand
- Park Hyatt Doha in Qatar
- Park Hyatt Jakarta in Indonesia
- Park Hyatt Kyoto in Japan
- Park Hyatt Shenzhen in China
Planned openings in 2020
- Alila Dalit Bay in Malaysia
- Alila Hinu Bay in Oman
- Andaz Bali in Indonesia
- Andaz Sanya Sunny Bay in China
- Andaz Shenzhen in China
- Andaz Xiamen in China
- Grand Hyatt Jeju in Korea
- Grand Hyatt Kuwait in Kuwait
- Grand Hyatt Shenzhou Peninsula in China
- Park Hyatt Niseko, Hanazono in Japan
- Park Hyatt Suzhou in China
The term "Hyatt" is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
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. These statements include statements about Hyatt's planned expansion in the Asia Pacific region and the timing of certain new hotel openings and involve known and unknown risks that are difficult to predict. 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 the 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 seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; 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 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; the timing of acquisitions and dispositions, and our ability to successfully integrate completed acquisitions with existing operations; our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program; cyber incidents and information technology failures; 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.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 20 premier brands. As of June 30, 2019, the Company's portfolio included more than 875 properties in over 60 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®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination®, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, Joie de Vivre®, Hyatt House®, Hyatt Place®, tommie™, Hyatt Residence Club® and Exhale® brand names, and operates the World of Hyatt® loyalty program that provides distinct benefits and exclusive experiences to its valued members. For more information, please visit www.hyatt.com.