Hyatt Announces Plans for Hyatt Centric Escazu San Jose

CHICAGO - Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with an affiliate of Caribe Hospitality S.A. for Hyatt Centric Escazu San Jose. Expected to open in 2024, the lifestyle hotel will debut the Hyatt Centric brand in Costa Rica and will mark the third Hyatt Centric hotel in Central America, further demonstrating Hyatt’s intentional brand growth in Latin America and the Caribbean region, fueled by leisure travel demand.

Located along the Próspero Fernández Highway in Escazu, Hyatt Centric Escazu San Jose will be situated in the heart of the action within the Plaza Tempo mixed-use complex, which boasts upscale retail shops, more than 25 restaurants and public green spaces. Just 10 minutes from downtown San Jose and 10 miles from the Juan Santamaria International Airport, the hotel will be located within walking distance of the city’s top dining destinations, modern shopping plazas and lively entertainment venues. Hyatt Centric Escazu San Jose will offer 161 thoughtfully designed, modern guestrooms and suites, an all-day dining restaurant and full-service bar, a large fitness center, 4,000 square feet of event space, as well as a fully equipped coffee bar and lounge.

As Hyatt seeks further growth of its lifestyle brand portfolio in key markets that matter to our guests, World of Hyatt members, and customers, we are thrilled to team up with Caribe Hospitality to continue the expansion of the Hyatt Centric brand in Central America. Each Hyatt Centric property serves as a launchpad for guests to explore and discover the destination in which it resides, and we look forward to the hotel welcoming savvy travelers who are eager to immerse themselves in the vibrant Costa Rican culture. Camilo Bolaños, senior vice president of development, Latin America & the Caribbean, Hyatt

We are excited to work alongside Hyatt on this development and bring the first Hyatt Centric hotel to Costa Rica. With Caribe Hospitality’s expert knowledge of the market and Hyatt’s operational excellence, Hyatt Centric Escazu San Jose is sure to be a sought-after destination for locals and travelers alike, and the perfect addition to our existing and ever-growing portfolio in Costa Rica. Daniel Campos, CEO of Caribe Hospitality

The expected opening of Hyatt Centric Escazu San Jose will build on Hyatt’s intentional brand growth strategy in key leisure markets, joining Hyatt Centric Guatemala City as well as Hyatt Centric San Salvador in Central America. For more information about Hyatt Centric hotels, please visit https://www.hyatt.com/development/ourbrands/hyattcentric.

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

About Caribe Hospitality

Caribe Hospitality Company is headquartered in San José, Costa Rica with 22 years of experience becoming a leading hotel developer, carrying out projects in different regions of Central America, Mexico, and the Caribbean. Caribe Hospitality's portfolio is made up of 12 hotels in operation and 2 in development, it has also sold 3 successful projects and has about 4 new investments in planning. As for these hotels, Caribe Hospitality partners with the most prestigious hotel operator brands worldwide in business models under Management Agreement. Caribe Hospitality is a pioneer company incorporating economic models of hotel sustainability in the different countries where its projects are located.

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