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HHM, Formerly Hersha Hospitality Management, and Hyatt Hotels Prepare to Open
the Newly Built, 178-room Hyatt Union Square New York


NEW YORK (February 5, 2013) – Hyatt Hotels Corporation (NYSE: H) and HHM announced today that Hyatt Union Square New York is now taking reservations for stays beginning April 2013.  The newly built, 178-room hotel will feature urban style guestrooms and new dining and bar concepts by local, highly rated restaurateurs. Guests will be able to enjoy unprecedented services and experiences in the heart of Union Square, one of Manhattan’s most beloved neighborhoods.
 
Located at 13th Street and Fourth Avenue, Hyatt Union Square will blend modern design with classic style. The building’s historic façade and expansive 23-foot high entryway ceiling will provide a grand entrance for guests’ arrival, while the lobby, designed by acclaimed interior designer Paul Vega, will feature custom made contemporary pieces that bring New York’s downtown vibe to life.
 
“Union Square is a must see, cultural destination in downtown Manhattan, and visitors in town for both business and leisure want to stay in this neighborhood, but did not previously have the hotel options. Hyatt Union Square New York will answer this demand with an offering unlike anything nearby,” says Chris Holbrook, General Manager, Hyatt Union Square New York. “Every detail of Hyatt Union Square New York is focused on enticing today’s edgy, yet sophisticated, urban traveler, and guests are granted the benefit of staying in the perfect location for a true New York experience.”
 
The sleek guestrooms will offer something for everyone, ranging from loft-style studios with and without outdoor terraces to two distinct presidential suites. The Sanctuary, located on the second floor, will boast a 954 square foot landscaped terrace overlooking the corner of 13th Street and Fourth Avenue. Inside, the spacious one-bedroom suite will evoke a sense of peace and tranquility, and will feature a shower made for two and separate living area. The Empyreal suite on the 11th floor will offer chic neighborhood views through floor-to-ceiling windows in the living room and bedroom. Additional guestroom accommodation categories include: Urbane Studio, Urbane Sky Room, Urbane Terrace, Courtyard Studio, and Alcove Loft.
 
Hyatt Union Square New York will offer new restaurants by One Five Hospitality Group, led by well-respected restaurateurs Jo-Ann Makovitzky and Marco A. Moreira. The hotel’s signature restaurant, The Fourth, is an all-day American Brasserie that will serve traditional brasserie fare with a modern American interpretation. Singl Lounge will serve as an exciting place for guests to gather during the day and evening, featuring an extensive single malt scotch selection and single vineyard wine by the glass selection. These renowned local restaurateurs are owners of the highly acclaimed Tocqueville and 15 East restaurants.

About Hyatt Union Square New York
The new Hyatt Union Square New York will be the first new hotel in the neighborhood in more than ten years when it welcomes its first guests in April 2013. The hotel will boast 178 guestrooms and suites, as well as the newest ventures from One Five Hospitality Group, The Fourth and Singl Lounge.  One Five is led by world renowned restaurateurs Jo-Ann Makovitzky and Marco A. Moreira, who have been staples in the community for 15 years with strong connections to their local loyal clientele. Perfectly positioned in the heart of New York City’s emerging Digital District, Hyatt Union Square New York is a fresh offering for visiting professionals, while simultaneously offering homegrown culinary and nightlife venues for the local community. For more information, visit www.unionsquare.hyatt.com.
 
About HHM
HHM, formerly known as Hersha Hospitality Management, operates 115 hotels across the United States. It provides turnkey hotel management, asset management and receivership for properties with leading brand affiliations through Marriott, Hilton, Hyatt, Starwood, and Intercontinental Hotel Group. HHM also operates 14 independent hotels ranging from The Rittenhouse Hotel, a AAA Five Diamond property in Philadelphia, to the oceanfront Postcard Inn in the Florida Keys. Its highly experienced team is accustomed to serving as a fiduciary to publicly traded companies, joint ventures, institutional real estate owners and private investors. Additional information on HHM can be found at hhmhospitality.com.

 

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 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; 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 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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Contact:

Celia de la Llama | Julia Baker
Susan Magrino Agency
212.957.3005
celia.delallama@smapr.com | julia.baker@smapr.com


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Also See: Working with an Ownership Group Led by Lodging Capital Partners, HHM Adds the 238-room Sheraton Detroit Novi to its Management Portfolio / November 2012

HHM Increases Management Portfolio by 25%, Adding 23 Newly Built Hotels in Texas, Oklahoma and Arkansas Under the Marriott, Hilton and IHG Flags / September2012

HHM Names Wayne Carney as Vice President of Financial Services / August 2012

Dustin Resnick Named as Senior Director of Acquisitions and Development for HHM, Formerly Known as Hersha Hospitality Management / August 2012

HHM, Formerly Known as Hersha Hospitality Management, Completes Renovations of Four Hotels in the Northeast – in Massachusetts, New York, New Jersey and Pennsylvania / July 2012

HHM, Hersha Hospitality Management, Renovates Five of its Eight D.C. Area Managed Properties / July 2012

HHM, Hersha Hospitality Management, Completes Renovation of Three HYATT House Properties in Maryland, New Jersey and California / June 2012

HHM, Hersha Hospitality Management, Completes Renaming and First Phase of a $3.7 Million Renovation for the 152-suite Capitol Hill Hotel in Washington, D.C.; Renovations Scheduled for Completion in Early 2013 for the Former Capitol Hill Suites / June 2012

HHM, Hersha Hospitality Management, Updates Brand Identity Coinciding with the Introduction of its Full Service Division; Transformation Includes New Logo and Redesigned Website / June 2012

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Hersha Hospitality to Acquire the Bulfinch Hotel, its Eighth Hotel in the Boston Market, for $18.2 million or $228,000 per key / May 2012

Hersha Hospitality Trust Acquires Philadelphia's The Rittenhouse Hotel / March 2012

Hersha Hospitality Completes Sale of 14 Non-Core Properties Generating Net Proceeds of $40.5 Million; Part of an Ongoing Portfolio Transformation, Four More Sales to Close by End of Q1 2012 / February 2012

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Edan Ballantine Appointed as Director of Food and Beverage at the Grand Hyatt New York / August 2011

Hyatt Hotels and Extell Development to Build New 54-story, 487-room Hyatt Times Square in New York City / August 2011

Hersha Hospitality Trust to Acquire the 175-Room Hyatt Hotel in Union Square, New York City for $104.1 Million or About $595,000 per key / July 2011

American Resort Management and Hyatt Hotels Open the 100-room Hyatt Place Long Island/East End in Riverhead, New York / July 2011

Hersha Hospitality Trust to Acquire 260-room Marriott Courtyard Westside in Los Angeles, California for $47.5 Million or $182,500 Per Key / May 2011

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Hersha Hospitality Trust Acquires 112-room Holiday Inn Express Wall Street and the 81-room Hampton Inn Financial District in New York City / April 2011

Hersha Hospitality Trust Acquires Three Newly Opened Hotels in New York City for $165 million / $284,000 per Key / February 2010

Hersha Hospitality Management Adds 1,000-plus Rooms to Portfolio, Outlines Aggressive Growth Plans Via Third-Party Management/Joint Ventures / October 2009

Hersha Hospitality Trust Acquires the 45-room Duane Street Hotel in the Tribeca Area of New York City for $24.75 million / January 2008
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