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Hyatt Regency McCormick Place in Chicago, Illinois Completes
its $110 Million Expansion and Renovation Project

Hotel Now Totals 1260 Rooms


CHICAGO (June 5, 2013) - Hyatt Regency McCormick Place announced today that its multi-million dollar expansion and renovation is now complete. The hotel’s owner, Metropolitan Pier and Exposition Authority (MPEA), has invested $110 million in the total renovation of the hotel, now Hyatt’s fourth largest hotel in the world and the fourth largest hotel in Chicago, providing a new guestroom tower, renovated outlets, meetings and public space. In partnership with McCormick Place Convention Center, Hyatt Regency McCormick Place can confirm short-term in-house meetings into the largest collection of first class meeting space in the Western Hemisphere.


(From Left to Right): Illinois State Rep. Ken Dunkin (5th District), Senior Vice President of Field Operations for Hyatt Hotels David Phillips, MPEA Chairman Jack Greenberg, Hyatt Regency McCormick Place General Manager Paul Daly, Chicago Mayor Rahm Emanuel, Alderman Pat Dowell (3rd Ward), Illinois State Rep. Christian Mitchell (26th District),  Illinois State Senator Mattie Hunter (3rd District). Not pictured MPEA CEO Jim Reilly.
Photo credit Nick Murway.


The project began in December of 2011 with the construction of a new 460-guestroom tower, which includes 12 suites and two premium suites. The hotel’s lobby was expanded and fully renovated and the existing 800-guestroom tower received a complete renovation.  Keeping consistent with the decor of the new 460-guestroom tower, all 800 current guestrooms received new soft and hard goods, designed in a modern yet residential style including the same furniture, fixtures, design and inclusions of the new tower.

Hyatt Regency McCormick Place’s outlets were also renovated, including Shor restaurant and M/X lounge, which underwent a seating and buffet expansion and added a second private dining room. The hotel’s coffee shop, Daily Grind has been expanded and now features a new “Fresh Market” concept, which offers homemade breakfast and lunch menus, using ingredients that are sourced locally. Daily Grind continues to serve a variety of coffee drinks, along with specialty snacks, both healthy and indulgent.

Larger in-house groups are now easily accommodated due to Hyatt’s expanded guestroom inventory and seamless connection with McCormick Place Convention Center and access to over 2 million square feet of state-of-the-art meeting space. For smaller meetings and events, Hyatt Regency McCormick Place offers 50,000 square feet of in-house function space including the newly redesigned 4,000-square-foot Prairie Room offering natural light, fine wood finishes and designer lighting. Prairie Room is available now for groups and events. The 25,000-square-foot Hyatt Conference Center also underwent a complete renovation, and the hotel added three new boardrooms along with a new business center.

“We are excited to showcase our new transformation,” said Paul Daly, general manager, Hyatt Regency McCormick Place. “Our state of the art services and amenities combined with even more guestroom availability directly connected to the nation’s largest convention center allows Hyatt Regency McCormick Place to play an even larger role in both attracting and hosting Chicago’s top meetings and conventions.”

“With a livelier neighborhood created by the McCormick Place Entertainment District and hundreds of new hotel rooms to serve convention-goers as a result of the Hyatt expansion and future development, there will be no contesting Chicago’s leadership,” said Jim Reilly, MPEA Chief Executive Officer.  “We have been eagerly awaiting this day, and I want to thank the leadership of Hyatt along with the men and women who work at the hotel and also those who built this terrific new property.”

For more information and reservations visit: www.mccormickplace.hyatt.com or call 312-567-1234.

About Hyatt Regency McCormick Place

Hyatt Regency McCormick Place, 2233 S. Martin Luther King Drive, Chicago, holds the prestigious honor of AAA Four Diamond status. AAA describes Four Diamond properties as accommodations that are “progressively more refined and stylish,” and maintain a “high degree of attention to detail.” Hyatt Regency McCormick Place currently has 1258 guestrooms featuring the ultra-comfortable Hyatt Grand Bed™ and iHome® stereo with iPod dock, 50,000 square feet of function space, newly redesigned 4,000-square-foot Prairie Room, and a 12,000-square-foot Regency Ballroom. It will be renovating the 25,000-square-foot Hyatt Conference Center and adding three new boardrooms and a new business center in the next few months. The hotel features the Daily Grind coffee shop, three restaurants – Forno, an Italian Trattoria, Shor, a Chicago grille, and M/X, a sleek, high-energy lounge, a full service Business Center with Wireless High Speed Internet, Hertz car rental, 24-hour StayFit™ fitness center and an indoor pool. The hotel is situated next to McCormick Place Convention Center, minutes from U.S. Cellular Field, and near downtown Chicago’s many attractions including Lake Michigan, the Field Museum and the Magnificent Mile. Hyatt Regency McCormick Place is only 10 miles from Midway Airport. For reservations or more information, call 312.567.1234 or visit www.hyatt.com. Diners will receive parking validation for the Hyatt Regency McCormick Place parking garage.

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, maintenance and enhancement to existing properties capital expenditures, investments in new properties 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
.
Contact:

Noreen Heron & Associates
Lianne Wiker
Katharine Nichols
773-969-5200
lwiker@heronpr.com
knichols@heronpr.com




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Also See: Hyatt Regency McCormick Place in Chicago, Illinois on Track for Summer 2013 Completion of its $110 Million Expansion and Renovation Project / February 2013

Hyatt Regency McCormick Place in Chicago, Illinois to Begin Phase Two of Multi-Million Expansion and Renovation Project; Owner, Metropolitan Pier and Exposition Authority (MPEA), is Investing Nearly $110 Million in the Project which Includes a New 460-room Tower on Track for Spring 2013 Completion / November 2012

Hyatt Regency McCormick Place in Chicago, Illinois Launches Multi-Million Expansion and Renovation Project; Owners, Metropolitan Pier and Exposition Authority, to Invest $110 Million in the Project to be Completed in 3 Phases / January 2012
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