CHICAGO
(November 13, 2012) – Hyatt Hotels Corporation (NYSE: H)
announced today that a Hyatt affiliate has entered into a management
agreement with Grande Asset Hotels and Property Public Company Limited,
a Bangkok-based real estate development company, for Hyatt Regency
Bangkok, Sukhumvit. Expected to open in 2017, the hotel will be the
first Hyatt Regency-branded hotel in Bangkok, and will join the already
open Grand Hyatt Erawan Bangkok.
The plans for Hyatt Regency Bangkok, Sukhumvit represents an integral
step towards the brand’s distribution in one of Asia’s key markets.
Located in the heart of the rapidly expanding commercial city center,
the hotel will be part of a mixed-use development that includes a
boutique shopping experience and an upscale residential tower.
“Bangkok is a key gateway city in Asia and we are delighted at the
opportunity to have a Hyatt Regency in this market. The hotel perfectly
complements the currently operating Grand Hyatt Erawan Bangkok and the
under-construction Park Hyatt Bangkok and will offer Hyatt guests a
choice of high quality hotels,” said Ratnesh Verma, senior vice
president, real estate and development, Asia Pacific, Hyatt Hotels and
Resorts. “The addition of the hotel reflects Hyatt’s commitment to the
region and to expanding its distribution in markets where guests are
increasingly traveling,” added Verma.
Hyatt Regency Bangkok, Sukhumvit will feature 300 guestrooms, including
26 suites. Designed by renowned Thai architecture firm Bangkok
Architects, the hotel will feature a three meal multi-cuisine
restaurant, a specialty restaurant and a bar. Designed to offer a full
range of services and facilities tailored to serve the needs of meeting
planners, the hotel will have more than 10,700 sq ft (1,000 sq m) of
contemporary meeting space, including a ballroom. Additional hotel
amenities will include a six treatment- room spa, a fitness center, a
swimming pool, and a club lounge.
“We are thrilled by plans for Hyatt Regency Bangkok, Sukhumvit,” said
Watcharakiti Watcharothai, Grande Asset Hotels and Property Public
Company Limited. “Bangkok continues to experience strong growth in
visitor numbers and this solidifies its position as a major leisure and
business destination in the South East Asia region. We believe the
hotel’s locations, amenities and overall urban sophistication will be
well suited to upscale corporate, leisure and business travelers’
needs.”
Centrally situated at Sukhumvit Road Soi 13 in close proximity to the
Asoke station of the Bangkok Transit System, the hotel will offer
efficient access and visibility, connecting guests with ease to key
points of interest in the city and the airport. Given its central
business district location, Hyatt Regency Bangkok, Sukhumvit will be
surrounded by premium residences, the offices of major international
companies and high-end retail stores.
For more information, please visit www.hyattdevelopment.com.
About Hyatt Regency
Hyatt Regency hotels are conveniently located in urban, suburban,
airport, convention and resort destinations around the world.
Properties range in size up to 2,000 rooms, feature intimate and large
meeting spaces, and offer a full range of services and dining options
tailored to serve the needs of conventions, business travelers or
resort vacationers. Hyatt Regency enables all guests – whether they are
traveling to work, unwind or gather in celebration – to feel productive
and revitalized. www.hyattregency.com
About Grand Asset Hotels and
Property Public Company Limited
Grande Asset Hotels and Property Public Company Limited is a listed
company in the tourism and leisure category. The company has clear
business goals and investment plans for the short-term and long-term:
in the hotel and hospitality business, the company focuses on
investment in luxury and upper-upscale hotels under world class hotel
chains and in real estate development business, the company focuses on
projects that provide short-term returns in prime locations such as the
inner city business area near mass transit system both in the Bangkok
metropolitan as well as major cities throughout the kingdom.
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 have
locations on six continents. Hyatt Residential Group, Inc., a Hyatt
Hotels Corporation subsidiary, develops, operates, markets or
licenses Hyatt ResidencesTM and Hyatt
Residence ClubTM. As of September 30, 2012, the
Company's worldwide portfolio consisted of 496 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 and interest expense estimates,
financial performance, prospects or future events and involve known and
unknown risks that are difficult to predict. As a result, our actual
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similar expressions, or the negative of these terms or similar
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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; limited
visibility with respect to short and medium-term group bookings; the
impact of hotel renovations; 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
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unions and changes in labor law; the financial condition of, and our
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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
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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
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other forward-looking statements.