News for the Hospitality Executive
Hyatt Hotels to Open First Andaz Hotel in Asia, the
307-room Andaz Shanghai;
Property Being Developed by Metro Land Corporation
CHICAGO (February 10, 2011) – Hyatt Hotels Corporation (NYSE: H) announced today that Andaz Shanghai, the first Andaz hotel in Asia, will open in Shanghai, China in the summer of 2011. The newly constructed 24-story hotel, featuring 307 spacious guest rooms, will be located in Xintiandi, a landmark entertainment area in the heart of downtown Shanghai. The hotel is being developed by Metro Land Corp., Ltd, (Shanghai Stock Exchange: 600683.SS) whose major business interests include real estate development.
“Shanghai has become increasingly influential as a financial and commercial center and is a critically important city for international and in-country travelers and we are excited to introduce the Andaz brand there,” said Steve Haggerty, Global Head of Real Estate and Development for Hyatt Hotels Corporation. “The addition of the Andaz brand in Shanghai, which has three Hyatt hotels today, marks an important milestone for Andaz and we expect Andaz Shanghai to become the brand’s flagship in the region. Andaz Shanghai will be a spectacular addition to the Andaz family, which has six additional properties under development in key gateway cities and resort destinations around the world.”
Andaz Shanghai will feature 262 standard rooms measuring 40 square meters, as well as 45 suites, ranging in size from 82 – 193 square meters, a restaurant, brasserie, bar, lounge, a spa and pool and 1,300 square meters of function space.
Located in Xintiandi, the internationally acclaimed restoration development featuring stylish restaurants, bars, and boutiques, Andaz Shanghai will be a short walk to the Metro and the prestigious Huai Hai Zhong Road, one of Shanghai’s main shopping areas. As demonstrated by the 73 million visitors to the World Expo in 2010, Shanghai will continue to be a popular destination for the world’s travelers.
Five Andaz hotels are currently open: Andaz 5th Avenue and Andaz Wall Street in New York City, Andaz Liverpool Street in London, Andaz San Diego, and Andaz West Hollywood. Andaz hotels are under development around the world in the following locations: Amsterdam, Netherlands; Delhi, India; Papagayo, Costa Rica; Sanya, China; Providenciales, Turks and Caicos Islands; and Wailea-Makena, Hawaii.
Global in scale while local in perspective, Andaz delivers an innovative hospitality experience and attentive, uncomplicated service designed to accommodate guests’ personal preferences. Hotels in this unique collection reflect the spirit of their locale, and are dedicated to creating natural and vibrant living spaces where travelers can indulge in their own personal sense of comfort and style. For more information and reservations, visit www.andaz.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 Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses as Hyatt ResidencesTM and Hyatt Vacation Club®, which is changing its name to Hyatt Residence ClubTM. As of September 30, 2010, the Company’s worldwide portfolio consisted of 447 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. These statements include statements about our plans, strategies, 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, the depth and duration of the current economic downturn; levels of spending in the business, travel and leisure industries as well as consumer confidence; declines in occupancy and average daily rate; 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; 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; fluctuations in currency exchange rates; general volatility of the capital markets and our ability to access the capital markets. A more complete description of these risks and uncertainties can be found in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K. 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.
Hyatt Hotels & Resorts
Hyatt Hotels & Resorts
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