Hyatt Hotels Enters Agreement for the 223-key Park Hyatt Shenzhen, Futian to Open in China in 2018
September 16, 2013 5:08pm
CHICAGO - September 16, 2013 - Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a management agreement with Shenzhen Ping’An Financial Centre Construction and Development Co., Ltd. for a Park Hyatt hotel in Futian district, Shenzhen, China. Park Hyatt Shenzhen, Futian will join Grand Hyatt Shenzhen, which opened in 2009.
“Shenzhen is a key city for multiple industries in China and is becoming a gateway city in its own right. We are pleased to offer travelers another opportunity to stay at a Hyatt-branded property in Shenzhen and thanks to Park Hyatt’s reputation for outstanding service, as well as world-class dining, the hotel will be a natural addition to the city’s central business and financial district,” said Larry Tchou, group president, Asia Pacific for Hyatt. “This is our first project with Ping’An Group, and we believe that our shared values and vision for serving the best to Shenzhen will position Park Hyatt Shenzhen, Futian to provide guests with an unprecedented level of luxury and unrivalled hospitality.”
Park Hyatt Shenzhen, Futian will be situated in the center of Futian central business district in Shenzhen, adjacent to the Convention and Exhibition Center, a prime location in the city. It will be an important part of the mixed use development project comprised of the hotel, luxury shopping mall and upscale offices. Expected to open in 2018, Park Hyatt Shenzhen, Futian will offer the brand’s signature personalized services with 223 luxury rooms and suites, an array of restaurants and bars, a spa and fitness center, and intimate multi-functional event facilities. The hotel will be located on top of the 1,148-foot (350-meter) south tower, and will be adjacent to the 2,021-foot (616-meter) north tower of the Ping’An Financial Centre, which is expected to be the tallest building in Shenzhen.
“Park Hyatt Shenzhen, Futian is our first hotel project,” said Mr. Ren Huichuan, general manager of Ping’An Group. “We are very pleased to work with Hyatt on such an exciting and significant collaboration. We believe the strength of Hyatt’s service culture and the depth of its operational expertise will bring great value to the new hotel.”
As of June 30, 2013, Hyatt’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.
Tags: hyatt hotels,
park hyatt shenzhen, futian
Contact: Amy Patti
+1 312 780 5620
Contact: Lillian Zhang
+86 10 5928 1234
Lotte Tour Development and Hyatt Hotels Enter Agreement for New Build Grand Hyatt Hotel in Jeju City, South Korea
Hyatt Hotels Reports Q1 2017 Net Income Increased 104.8% to $70 Million; Comparable Systemwide RevPAR Increased 4.7%
Hospitality Management Chantilly and Hyatt Enter Agreement for Management of New Hyatt Regency Chantilly
Hyatt Acquires Wellness Leader Miraval Group for $215 Million
Hyatt Reports Net Income of $63 million for Q3 2016, an Increase of 148% Over Q3 2015
Hyatt Hotels Reports Q2 2016 Net Income of $67 million Compared to $40 million in the Year Ago Quarter
Hyatt Reports First Quarter 2016 Net Income of $34 million Compared to $22 in the Year Ago Quarter; Adjusted EBITDA Increased to $194 million
Hyatt Selects Lara Migliassi as Vice President – Global Brands
Hyatt in Talks to Acquire Starwood?
Hyatt to Power Meetings at 100 International Properties with This Technology
Hyatt Appoints Atish Shah as Interim Chief Financial Officer
Hyatt to Offer Free Wi-Fi to All Guests Independent of Booking Methods or Loyalty Programs
General Manager Nicholas Lacey Opens the 207-room Park Hyatt Sanya Sunny Bay Resort in China
Hyatt Honors Excellence Among Americas Owners and Developers with 2014 Awards
Hyatt Hotels and PRISA Group Open the 126-room Hyatt House San Juan in Puerto Rico
Hyatt Hotels Reaches Settlement with Fired Boston Area Housekeepers; To Pay $1 million
Grand Hyatt Melbourne Collaborates with McLaren Technologies Utilizing Leading SaaS Technology
Hyatt Reports Q2 2014 Net Income of $72 million: Systemwide RevPAR up 5.5%
Hyatt Makes Organizational Changes Naming Chuck Floyd as Global President of Operations
Hyatt Hotels Reports First Quarter Net Income of $56M, Systemwide RevPAR Increased 6.5%
Please login or register to post a comment.