News for the Hospitality Executive
CHICAGO--April 20, 2010--Hyatt Hotels Corporation announced today that Broadreach Capital Partners and Maritz, Wolff & Co. have selected Hyatt to brand and manage Aviara Resort as part of its luxury Park Hyatt portfolio. The company expects to assume management of the hotel on June 21, 2010, when Park Hyatt Aviara Resort will become the 25th property operating under the Park Hyatt brand. The long-term agreement is subject to third party lender approval.
“Hyatt is delighted to be invited to manage this beautiful Southern California resort,” said Steve Haggerty, global head of real estate and development for Hyatt Hotels Corporation. “We look forward to a long and successful relationship with the property’s owners and expect a very smooth transition for Aviara guests as we introduce the personalized service and authentic hospitality for which Park Hyatt is known around the world.”
Park Hyatt Aviara Resort joins a growing list of Park Hyatt hotels slated to open in key urban centers and resort locations around the world over the next several years.
About Park Hyatt
Intimate and residential in style, Park Hyatt promises elegant and gracious service on a personal scale and is further distinguished by prime locations and exceptional interior design. Hyatt Hotels Corporation and its subsidiaries provide management services for 24 Park Hyatt hotels. Current locations include Baku, Beaver Creek, Beijing, Buenos Aires, Canberra, Chicago, Dubai, Goa, Hamburg, Istanbul, Jeddah, Melbourne, Mendoza, Milan, Moscow, Paris, Saigon, Seoul, Shanghai, Sydney, Tokyo, Toronto, Washington DC, and Zurich.
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 424 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.
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