Hyatt Plans to Expand Global Luxury Portfolio With More Than 20 New Hotels and Resorts by the End of 2020
Five new Park Hyatt hotels expected to open as the brand celebrates its 40th anniversary; The Unbound Collection by Hyatt continues to see strong growth in Europe
CHICAGO - Hyatt Hotels Corporation (NYSE: H) announced today that more than 20 new luxury hotels and resorts are expected to open worldwide by the end of 2020, boosting Hyatt's luxury portfolio. The additions include new properties under the Park Hyatt, Andaz, Alila, Grand Hyatt, Miraval and The Unbound Collection by Hyatt brands.
"With our growth acceleration in the luxury segment, we will have the opportunity to care for more travelers around the globe through a range of differentiated high-end experiences," said Mark Vondrasek, chief commercial officer, Hyatt. "We're excited to expand into new markets and enhance the global footprint of our brands, giving our guests and members additional ways to connect with our luxury offerings in places where they want to be."
Celebrating its 40th anniversary in 2020, the Park Hyatt brand is also a key contributor to Hyatt's luxury portfolio growth, with five Park Hyatt hotels expected to open by 2020 in Doha, Qatar; Jakarta, Indonesia; Niseko Japan; Suzhou, China; and Auckland, New Zealand. With its world-renowned artwork, sophisticated design, and sought-after dining experiences - with several Michelin-starred restaurants, now totaling three in Europe - the brand caters to discerning travelers who appreciate understated luxury and an intimate, residential stay. Throughout the decades, Park Hyatt hotels have delivered immersive experiences, creating a refined home away from home for guests.
"Across Europe, Africa, the Middle East, as well as Southwest Asia, luxury properties account for over a third (35 percent) of our portfolio," said Peter Fulton, group president - EAME SWA, Hyatt. "Europe in particular, with its unique and historic architecture, represents a natural home for The Unbound Collection by Hyatt brand, and as we expand with our lifestyle and independent brands, we are confident our new offerings will cater to high-end travelers who are seeking an unprecedented stay."
Other announcements include the expansion of the Alila brand, which delivers world-class service and crafts rare and intimate experiences for its guests, with three luxury resorts expected to open in Switzerland, Malaysia and Oman. In addition, six Andaz branded luxury lifestyle properties are due to open in Dubai, UAE; Prague, Czech Republic; Bali, Indonesia; Shenzhen and Xiamen in China, and Palm Springs, California, offering distinctively local experiences and creative design within open, barrier-free spaces.
The Grand Hyatt brand is also set to continue to steadily grow with new openings in Hefei and the Shenzhou Peninsula in China, Kuwait, Gurgaon in India, Jeju in South Korea, and Nashville, Tennessee, along with the first Grand Hyatt hotel in Al Khobar, Saudi Arabia. Known for its bold and vibrant architecture and welcoming service, Hyatt's largest luxury brand, Grand Hyatt, celebrates the iconic in small details and magnificent moments.
Planned Alila openings
- Alila Dalit Bay in Malaysia (2020)
- Alila Hinu Bay in Oman (2020)
- Alila La Gruyère in Switzerland (2023)
Planned/Recent Andaz openings
- Andaz Dubai The Palm (2019)-will mark the brand's entry into Dubai
- Andaz Bali (2020)-will mark the brand's entry into Indonesia
- Andaz Shenzhen in China (2020)
- Andaz Xiamen in China (2020)
- Andaz Palm Springs in the U.S. (2020)
- Andaz Prague (2022)-will mark first Hyatt hotel in the Czech Republic
- Andaz Seoul Gangnam in South Korea (opened 2019)
Planned/Recent Grand Hyatt openings
- Grand Hyatt Hefei in China (2019)
- Grand Hyatt Al Khobar (2020)-will mark the brand's entry into the Kingdom of Saudi Arabia
- Grand Hyatt Kuwait (2020)-will mark the brand's entry into Kuwait
- Grand Hyatt Gurgaon in India (2020)
- Grand Hyatt Jeju in South Korea (2020)-will mark largest Grand Hyatt hotel in Asia Pacific
- Grand Hyatt Nashville in the US (2020)-will mark the brand's entry into Tennessee
- Grand Hyatt Shenzhou Peninsula in China (2020)
- Grand Hyatt at SFO-only on-airport hotel at SFO (opened 2019)
Planned/Recent Park Hyatt openings
- Park Hyatt Doha (2019)-will mark the brand's entry into Qatar
- Park Hyatt Auckland (2020)-will mark the brand's entry into New Zealand
- Park Hyatt Jakarta (2020)-will mark the brand's entry into Indonesia
- Park Hyatt Niseko Hanazono in Japan (2020)
- Park Hyatt Suzhou in China (2020)
- Park Hyatt Kyoto in Japan (opened 2019)
Planned The Unbound Collection by Hyatt openings
- Great Scotland Yard (2019)-will mark the brand's entry into the UK
- Hotel du Palais Biarritz in France (2020)
Planned Miraval openings
- Miraval Berkshires Resort and Spa in the US (2020)—will mark the brand's entry into Massachusetts
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 the planned expansion of our global luxury hotels and resorts portfolio, including anticipated timelines for property 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 offering 20 premier brands. As of March 31, 2021, the Company's portfolio included more than 1,000 hotel, all-inclusive, and wellness resort properties in 68 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 employees, build relationships with guests and create value for shareholders. The Company's subsidiaries operate, manage, franchise, own, lease, develop, license, or provide services to hotels, resorts, branded residences, and vacation ownership properties, including under the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination by Hyatt™, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, JdV by Hyatt™, Hyatt House®, Hyatt Place®, tommie™, UrCove, and Hyatt Residence Club® 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.