Hyatt Montevideo will be the first Hyatt-Branded Hotel in Uruguay
CHICAGO - October 3, 2012 - (BUSINESS WIRE) - Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Dilony S.A. for a new Hyatt hotel in Montevideo, Uruguay. Hyatt Montevideo will mark the first Hyatt-branded hotel in Uruguay, bringing the total number of announced Hyatt-branded hotels under development in Latin America to 14.
?We are excited to work with Dilony S.A. on the first Hyatt-branded hotel in Uruguay,? said Pat McCudden, Senior Vice President, Real Estate and Development, Hyatt Hotels & Resorts. ?This project is an important step in our broader plans to establish Hyatt properties in all of the major gateway and capital cities in Latin America, and we believe that the Hyatt brand and the excellent location of the hotel in Montevideo will have strong appeal to business and leisure travelers visiting the region.?
Expected to open in 2015, Hyatt Montevideo will be situated along the Rambla Republica del Peru, a major thoroughfare along the coastline of Montevideo. Located in the city?s Pocitos neighborhood, the hotel will be in close proximity to many of area?s business and leisure districts, including Ciudad Vieja, the World Trade Center and the Montevideo Shopping Center. Additionally, Carrasco International Airport is easily accessible from the hotel.
Hyatt Montevideo will offer 167 guestrooms, including 14 suites, which will range in size from 484 sq ft (45 sq m) to 861 sq ft (80 sq m). The hotel will also offer an all-day dining restaurant, a lobby lounge, a fitness center, an indoor pool, and more than 6,200 sq ft (585 sq m) of meeting and event space.
?We are pleased to work with Hyatt on the first Hyatt-branded hotel in Uruguay,? said Arq. Daniel Weiss, President of Dilony S.A. and Director of Weiss Sztryk Weiss, the developer group. ?We appreciate Hyatt?s commitment to providing authentic hospitality to its guests, and we believe Hyatt Montevideo?s excellent location along the Rambla and the sea coast will deliver an exceptional hospitality experience to guests visiting Montevideo.?
For more information, please visit www.hyattdevelopment.com.
About Hyatt
Hyatt hotels are smaller-sized properties conveniently located in proximity to diverse business and leisure areas. With hotels typically ranging from 150 to 350 rooms, Hyatt hotels offer guests the opportunity to experience our hospitality in a vibrant environment. Customers include individual business and leisure travelers, and Hyatt hotels can accommodate smaller scale business meetings and social gatherings.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt?, Park Hyatt?, Andaz?, Grand Hyatt?, Hyatt Regency?, Hyatt Place? and Hyatt HouseTM brand names and has locations on six continents. Hyatt House is changing its brand identity from Hyatt Summerfield Suites?. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Residence ClubTM. As of June 30, 2012, the Company's worldwide portfolio consisted of 492 properties in 45 countries. 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. These statements include statements about our plans, strategies, occupancy and ADR trends, market share, the number of properties we expect to open in the future, our expected adjusted SG&A expense, capital expenditures, depreciation and amortization expense, interest expense and effective tax rate, estimates, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. 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 actual results to differ materially from current expectations include, among others, general economic uncertainty in key global markets, the rate and 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; our ability to successfully execute and implement our organizational realignment and the costs associated with such organizational realignment; our ability to successfully execute and implement our common stock repurchase program; loss of key personnel, including as a result of our organizational realignment; hostilities, including future terrorist attacks, or fear of hostilities that affect travel; travel-related accidents; changes in the tastes and preferences of our customers; relationships with associates and labor unions and changes in labor law; the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners; if our third-party owners, franchisees or development partners are unable to access the capital necessary to fund current operations or implement our plans for growth; risk associated with potential acquisitions and dispositions and the introduction of new brand concepts; changes in the competitive environment in our industry and the markets where we operate; outcomes of legal proceedings; changes in federal, state, local or foreign tax law; foreign exchange rate fluctuations or currency restructurings; general volatility of the capital markets; our ability to access the capital markets; 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 SEC. We caution you not to place undue reliance on any forward-looking statements, which are made 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 laws. 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.
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Contacts:
Hyatt Hotels Corporation
Si?n Martin
+1 312 780 5797
sian.martin@hyatt.com
Karina Faber
+55 11 2838 1232
karina.faber@hyatt.com
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