GARDEN CITY, N.Y. - January 12, 2010 - Hyatt and OTO Development, LLC, today announce a major milestone for the Hyatt Place brand: the first Hyatt Place hotel on Long Island and the first newly built New York City-area Hyatt Place hotel will open on Thursday, January 14.

�We regularly hear from travelers across the country that the Hyatt Place environment is what they are looking for in a hotel and we are confident travelers to Garden City will agree.�

�Hyatt Place Garden City will be the city�s first hotel to open since 2006. Given that the city has 10 million square feet of office space and 12 million square feet of retail space, we are certain business and leisure travelers will find that Hyatt Place Garden City offers the service and amenities they need, including free Wi-Fi access, spacious guestrooms and 24/7 food availability,� said Corry Oakes, CEO and president, OTO Development, LLC.

Hyatt Place Garden City offers:

• 122 spacious guestrooms, all of which feature a 42-inch HDTV, the plush Hyatt Grand Bed� and an eight-foot sectional sofa-sleeper
• Complimentary Wi-Fi access throughout the hotel
• Complimentary continental breakfast featuring a variety of fresh fruits, hot and cold cereal, yogurt, breads, premium coffee and an assortment of juices
• 1,100 square feet of meeting space

�Hyatt Place has established significant traction since its launch and the opening of Hyatt Place Garden City, the brand�s 146th hotel, is the perfect way to kick off the brand�s growth in 2010,� said Gary Dollens, senior vice president, Hyatt Hotels Management Corporation. �We regularly hear from travelers across the country that the Hyatt Place environment is what they are looking for in a hotel and we are confident travelers to Garden City will agree.�

Hyatt Place hotels are specially designed to accommodate today�s 24/7 lifestyle, offering amenities such as complimentary Wi-Fi access, large lobby space, a StayFit@Hyatt fitness center, a coffee and wine bar serving Starbucks® specialty coffees and premium wine and beer, and the Grab �n Go case stocked with freshly made sandwiches and salads. The Guest Kitchen offers made to order breakfast, lunch and dinner entrées around the clock, in addition to the complimentary continental breakfast served daily. Specially trained Hosts are on hand to offer assistance with everything from directions to check-in to a freshly made meal. 

Spacious guestrooms feature multiple areas to work and relax and include the Cozy Corner�, an eight-foot couch; plush Hyatt Grand Bed�; and ergonomic work center. Every guestroom is also equipped with a state-of-the-art media center that allows electronic devices to plug directly into the 42-inch high definition television, giving guests instant access to the technological amenities they�re accustomed to accessing at home or in the office.

Hyatt Place Garden City is located on Long Island just a short drive from Hofstra University and Nassau Coliseum. For additional convenience, the hotel is also within walking distance to Roosevelt Field Mall, the fifth largest mall in the country.

About OTO Development, LLC

OTO Development, LLC is the latest hospitality company launched by H. Wayne Huizenga and George D. Johnson Jr. The company was established to build premier select-service and extended-stay hotels in certain high-barrier-to-entry U.S. markets. OTO develops the strongest brands offered by Hilton Hotels Corporation, Marriott International, Starwood Hotels and Hyatt Hotels Corporation. The brands of choice for OTO Development include Hampton Inn, Hampton Inn and Suites, Hilton Garden Inn, Homewood Suites, Residence Inn, Courtyard, and Springhill Suites. OTO is pursuing locations in the most attractive hotel investment markets across the country.

Although in business only since summer 2004, OTO has already received an "Outstanding Achievement" award from Hilton for its 2004 development efforts as well as "Developer of the Year" award from Hampton in 2005. Since inception, OTO has been awarded 33 license agreements representing hotel development investments in excess of $500 million.

Background
The professionals who comprise OTO Development are key members of the group that created the Extended Stay America hotel chain and rapidly built its portfolio to a total of 475 hotels. This hotel development team has significant experience in market feasibility, site selection, deal negotiation, entitlement, permitting, construction and operations.

To execute the rapid growth plan of its portfolio, OTO has employed 21 development professionals who are former real estate and construction experts from Extended Stay America and the lodging industry. George Dean Johnson Jr. is the managing member of OTO Development. Mr. Johnson is the founder and former Chief Executive Officer of Extended Stay America. Corry W. Oakes III is the Chief Executive Officer and President of OTO Development, and was formerly the President and Chief Operating Officer of Extended Stay America. Charles T. King joined OTO Development, LLC as Chief Financial Officer, Secretary, and Treasurer in August 2007. Before joining OTO, Charlie held various positions with Bassett Furniture Industries, Inc including Controller and Vice President of Sales. Todd R. Turner is Vice President of Real Estate for OTO Development. He was formerly the Vice President of Real Estate for Extended Stay America.

Funding
The development of new hotel projects will be funded through Palmetto Hospitality Fund I. The Fund has common ownership with OTO Development Company and currently has capital commitments from a select group of equity investors, including George Dean Johnson Jr., H. Wayne Huizenga and Dean L. Buntrock. Bank financing has been approved by Bank of America, as well as other regional banks throughout the country. OTO anticipates developing approximately $1 billion worth of hotel projects from 2005 to 2008. www.otodevelopment.com.

About Hyatt Place
Hyatt Place brings the authentic hospitality for which Hyatt is known to the upscale select-service category. Inspired by multitasking travelers� 24/7 lifestyle, Hyatt Place combines stylish design, practical amenities, forward-thinking technology and purposeful service so guests can remain connected and productive while traveling. Hyatt Place is a brand of Hyatt Hotels Corporation that currently offers more than 130 locations throughout the United States. For Hyatt Place information or to make a reservation, call 1-888-HYATT-HP (888-492-8847) or visit www.HyattPlace.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 in 45 countries 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 Summerfield Suites� brand names and have locations under development on five continents. Hyatt Vacation Ownership, Inc., a Hyatt Hotels Corporation subsidiary, develops and operates vacation ownership properties under the Hyatt Vacation Club® brand. As of December 31, 2009, the company�s worldwide portfolio consisted of more than 415 properties. For more information, please visit www.hyatt.com.

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.