“Hyatt Regency Sochi represents a key opportunity to increase preference for Hyatt’s brands in one of Russia’s top tourist destinations,” said Peter Norman, senior vice president, real estate and development for Hyatt Hotels & Resorts for Europe, Africa, and Middle East. “While the 2014 Games have heightened Sochi’s profile, it has long been a popular destination for travelers in the region. Hyatt’s Regency Sochi will join other Hyatt hotel’s in Russia, which include Ararat Park Hyatt Moscow and Hyatt Regency Ekaterinburg.”

Hyatt Regency Sochi, bordering Sochi’s scenic seaside pedestrian zone, will be a stand-alone building with 200 rooms, including 26 suites, an all-day-dining and a specialty restaurant, a lobby lounge, a specialty bar and a pool bar, a ballroom and ten meeting rooms, as well as spa facilities with eight spa treatment rooms and an outdoor swimming pool. The hotel will be located at the heart of the city’s historical center and will feature a pedestrian area behind the hotel that converges with the beachside promenade.

“Hyatt Regency Sochi is a priority project for us,” said Sergey Demin, chief executive officer of Snegiri Development, “and we have engaged the best architects and designers from the Scottish architectural firm RMJM and the French interior designer Valode & Pistre. We have also engaged Rasen Construction, a leading Turkish contractor, for construction of this complex and unique project. We are confident that Hyatt Regency Sochi will become the center of resort life in Sochi and the premier 5-star hotel in all of the famous Black Sea Riviera.”

Hyatt Regency hotels are conveniently located in urban, suburban, airport, convention and resort destinations around the world. Property sizes range from 200 rooms to more than 2,000, and feature intimate and large meeting spaces, as well as a full range of services and dining options tailored to serve the needs of conventions, business travelers or resort vacationers.

“Hyatt Regency Sochi will join the portfolio of 143 Hyatt Regency hotels around the world and will mark the first Hyatt hotel in Sochi, Russia’s largest seaside, health and holiday resort destination,” said Gebhard Rainer, managing director, Hyatt Hotels & Resorts - Europe, Africa, and Middle East. “We are delighted that we will be able to offer business and leisure travelers in Sochi the same authentic hospitality for which Hyatt is known worldwide.”

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 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 on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Vacation Club®, which is changing its name to Hyatt Residence ClubTM. As of March 31, 2011, the Company’s worldwide portfolio consisted of 451 properties in 43 countries. For more information, please visit www.hyatt.com

About Snegiri Development
Snegiri Development has completed 19 projects in Moscow and Russia’s regional centers, and has over 1,000,000 square meters of real estate currently under development. The company was established in 2003 under the name of ST Group Region as a spin off from ST Development, Russia’s most experienced property developer, which began its business in 1992.

Forward-Looking Statements
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, our ability to successfully re-brand and integrate certain of the acquired hotels into our hotel portfolio; the time and capital expenditures required to ramp up certain of the acquired hotels post-closing; our ability to close the transaction within the time periods contemplated by the purchase agreement; the rate and pace of economic recovery following the economic downturn; levels of spending in business and leisure segments 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.