Hyatt Affiliate and Kamala Bay Ventures to Open Hyatt Regency Phuket Resort in Thailand in Late 2013
July 26, 2013 11:24am
CHICAGO (July 26, 2013) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Kamala Bay Ventures Co., Ltd. for a Hyatt Regency hotel in Phuket, Thailand. The hotel will be the first Hyatt-branded resort to open in Phuket, one of Southeast Asia’s premier resort destinations. Expected to open in late 2013, Hyatt Regency Phuket Resort will join two existing Hyatt-branded hotels in Thailand, including Grand Hyatt Erawan Bangkok and Hyatt Regency Hua Hin.
“We are excited to bring the Hyatt Regency brand to one of the region’s most sought after resort destinations,” said Ratnesh Verma, senior vice president, real estate and development, Asia Pacific for Hyatt Hotels & Resorts. “Hyatt Regency Phuket Resort will follow the opening of Park Hyatt Siem Reap and Park Hyatt Changbaishan this year, and the addition of these hotels is indicative of Hyatt’s commitment to build brand loyalty through exciting leisure offerings. We are honored to further strengthen our relationship with Kamala Bay Ventures Co., Ltd., which through its affiliates is also the owner of Park Hyatt Siem Reap and Park Hyatt Maldives Hadahaa.”
Hyatt Regency Phuket Resort will be located on the west coast of Phuket along the upscale Millionaire’s Mile. Overlooking Kamala Bay and the Andaman Sea, the hotel will offer impressive connections to the bustling areas of the island. The hotel will feature 202 guestrooms, in addition to more than 4,300 square feet of meeting facilities, three food and beverage outlets, a club lounge, fitness center, outdoor swimming pool, and spa.
As of March 31, 2013, the Company’s executed contract base consisted of approximately 200 hotels across all brands and regions in which Hyatt hotels operate. For more information, please visit www.hyattdevelopment.com.
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. 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, 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; 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; changes in the competitive environment in our industry and the markets where we operate; 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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