Hyatt Place Sorocaba and Hyatt Place Macaé
are expected to debut in 2017
By 2017, the Hyatt Place brand is expected
to have three hotels in southeast Brazil: Hyatt Place São José do
Rio Preto, Hyatt Place Sorocaba and Hyatt Place Macaé
Hyatt Hotels Corporation (NYSE:H) and FSA Group S.A. announced
today that joint venture entities formed by Hyatt affiliates and
FSA Group have entered into agreements to purchase two sites in
Brazil to develop Hyatt Place Sorocaba and Hyatt Place Macaé. Upon
the closing of the site acquisitions, the joint venture entities
will enter into agreements with FSA Group to manage the design,
planning and construction of the hotels and with Hyatt affiliates
to provide management services in connection with the operation of
the hotels upon opening, which is expected in the first quarter of
2017.
These two hotels are part of a larger master development
agreement between Hyatt affiliates and FSA Group to develop a total
of nine Hyatt Place hotels across Brazil. The first hotel as part
of this agreement, Hyatt Place São José do Rio Preto, was announced
in April 2014 and is expected to open in mid-2016.
Hyatt Place Sorocaba
Located approximately 100 kilometers from the city of Sao Paulo,
Sorocaba is one of the region’s most important industrial cities,
serving as headquarters for numerous multinational companies across
diverse industry sectors. Hyatt Place Sorocaba will be a component
of a mixed-use project known as Iguatemi Esplanada owned by
Iguatemi Empresa de Shopping Centers S.A. (Iguatemi), one of
Brazil’s largest retail developers and the owner of many high-end
retail malls throughout Brazil. The Iguatemi Esplanada completed a
large expansion of its retail component in November 2013, and plans
to add two office towers and a luxury residential component in
phases over the next several years. The 176-room Hyatt Place hotel
will feature a lobby lounge and restaurant, a fitness center, and
approximately 200 square meters of flexible meeting space.
Hyatt Place Macaé
Macaé, located approximately 180 kilometers northeast from the
city of Rio de Janeiro, has a large multinational presence and is
an economic center for tourism, fishing and most notably, petroleum
as it is the main center for offshore oil exploration in Brazil.
Hyatt Place Macaé will be located on a beachfront site in the
neighborhood of Cavaleiros. The area boasts a large selection of
seafront restaurants and nightlife entertainment. The 142-room
hotel will feature a roof-top pool, a lobby lounge and restaurant,
a fitness center, and approximately 160 square meters of flexible
meeting space. The seller of the site is Praia Campista Macaé
Empreendimentos Imobiliários Ltda, an affiliate of Primus
Realty.
“We are thrilled to be announcing two additional Hyatt Place
hotels in Brazil that will be developed under our master
development agreement with FSA. 2014 has been a milestone year for
Hyatt in Brazil, with the announcement of our plans to introduce
the Hyatt Place brand in Brazil,” said Pat McCudden, senior vice
president of real estate and development, Latin America &
Caribbean, Hyatt. “Hyatt’s Brazilian and Latin American growth
strategy for Hyatt Place is very active, supported by the brand’s
upscale and modern style which is appealing to today’s traveler.
Sorocaba and Macaé are attractive destinations with vibrant
economies, and we believe the Hyatt Place hotels will be
well-positioned to meet the needs of business and leisure travelers
to these cities.”
“Our relationship with Hyatt is progressing at a dynamic and
meaningful pace and we couldn’t be happier to be announcing these
two additional hotels within six months of our first Hyatt Place
hotel announcement,” said Ary Krivopisk, Brazil CEO of FSA Group.
“Hyatt Place is a unique concept in the market and we are convinced
that these new high quality hotels in Sorocaba, Macaé and São José
do Rio Preto will be highly regarded and popular. We continue to
seek new opportunities for growth and investment throughout the
region.”
Hyatt’s Brand Representation and Growth in Brazil
Hyatt is currently represented in Brazil by Grand Hyatt São
Paulo, a 466-room full-service, luxury hotel. Currently under
construction is the 436-room Grand Hyatt Rio de Janeiro, which is
scheduled to open in late 2015 in Rio de Janeiro’s Barra da Tijuca
borough.
In September 2014, Hyatt announced Brazil’s first Park Hyatt
hotel, Park Hyatt Foz do Iguaçu, which is expected to open in 2017.
In April 2014, Hyatt Place São José do Rio Preto was the first
Hyatt Place hotel to be announced under the landmark master
development agreement between a Hyatt affiliate and FSA Group for
nine Hyatt Place hotels throughout Brazil. Currently under design
and scheduled to begin construction in December 2014, the 150-room
hotel will be the third Hyatt-branded hotel in the country when it
opens in 2016. Hyatt Place São José do Rio Preto and Hyatt Place
Sorocaba are both being developed as part of a strategic
relationship with Iguatemi.
About Hyatt Place
Launched in 2006, the Hyatt Place brand brings to the upscale
service hotel category the authentic hospitality for which Hyatt is
known. Inspired by multitasking travelers' 24/7 lifestyle, Hyatt
Place combines style with casual hospitality. Featuring spacious
guestrooms with the Cozy Corner, Free Wi-Fi everywhere, the 24/7
Gallery Menu, Coffee to Cocktails Bar, and Free Hot Breakfast for
guests. The Odds & Ends program also has guests covered with
items they may have forgotten and can buy, borrow or enjoy for
free. Specially trained Gallery Host are on hand to offer
assistance with everything from directions to check-in to a freshly
made meal.
Hyatt Place, a brand of Hyatt Hotels Corporation, offers more
than 200 locations in the United States, Armenia, Chile, China,
Costa Rica, India, Mexico, Panama, Puerto Rico, Netherlands, and
United Arab Emirates. For Hyatt Place information or to make a
reservation, call 1-888-HYATT-HP (888-492-8847) or visit
www.HyattPlace.com.
The term “Hyatt” is used in this release for convenience to
refer to Hyatt Hotels Corporation or one or more of its
affiliates.
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 develop, own, operate, manage, franchise,
license or provide services to hotels, resorts, branded residences
and vacation ownership properties, including under the Hyatt®,
Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®,
Hyatt House®, Hyatt Zilara™, Hyatt Ziva™, Hyatt Residences® and
Hyatt Residence Club® brand names and have locations on six
continents. As of September 30, 2014, the Company's worldwide
portfolio consisted of 573 properties in 48 countries. For more
information, please visit www.hyatt.com.
About FSA Group
FSA Group identifies and executes strategic long term
investments in the South American continent. Founded in early 2005,
FSA Group has developed in excess of 3 million square feet of prime
real estate in the commercial, residential and hospitality sectors.
The company is part of the Libra Group (www.libra.com), a diverse
international business group operating across five continents which
was created in 2003 and is owned by the Logothetis family. For more
information please visit www.fsagrp.com.
Forward-Looking Statements
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.
Hyatt Hotels & ResortsAurelia Vasquez, +1
312-780-5873aurelia.vasquez@hyatt.comorFSA GroupDolores Arese, +54
11 4129 6200dolores.arese@fsagrp.com
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