Plans in place to convert a Tbilisi national
heritage monument into a Hyatt Regency hotel
Hyatt Hotels Corporation (NYSE: H) announced today that a
Hyatt affiliate has entered into a management agreement with
Rustaveli Property Ltd for a Hyatt Regency hotel in Tbilisi,
Republic of Georgia, which is expected to open in 2017.
“We are thrilled to add this landmark property to our portfolio
and further expand the number of Hyatt-branded hotels throughout
Europe. This project is particularly exciting as it is a conversion
of the former Ministry of Justice building, a national
architectural heritage monument, into a Hyatt Regency hotel in
downtown Tbilisi,” said Peter Norman, senior vice president of
development for Hyatt – Europe, Africa and Middle East. “We look
forward to bringing the Hyatt Regency brand to the Georgian
capital, and to welcoming guests to Hyatt Regency Tbilisi, a hotel
that will be designed to cultivate connections and offer memorable
dining experiences, stimulating recreational facilities and
inspirational meeting services.”
Situated on one of the most prominent streets in the vibrant
capital, Rustaveli Avenue, Hyatt Regency Tbilisi will feature 170
guestrooms and suites and more than 8,100 square feet (758 square
meters) of meeting space, including a ballroom, as well as four
food and beverage outlets and a spa and fitness center.
“We are delighted to be working with Hyatt on this exciting
development,” said Roman Pipia of Rustavelli Property Ltd. “It is a
great honor to be responsible for the redevelopment of such an
iconic building in our capital city, and we look forward to
unveiling the hotel upon completion.”
Hyatt Regency Tbilisi will join more than 150 Hyatt Regency
hotels around the world, including 29 existing Hyatt Regency hotels
throughout Europe, Africa, Middle East, and Southwest Asia, in
locations such as Berlin, Delhi, Dubai, London, and Paris.
About Hyatt Regency
The Hyatt Regency brand is an energizing hotel brand that
connects travellers to whom and what matters most to them. More
than 150 conveniently located Hyatt Regency urban and resort
locations in over 30 countries around the world serve as the go-to
gathering space for every occasion – from efficient business
meetings to memorable family vacations. The brand offers a one-stop
experience that puts everything guests need right at their
fingertips. Hyatt Regency hotels and resorts offer a full range of
services and amenities, including notable culinary experiences;
technology-enabled ways to collaborate; the space to work, engage
or relax; and expert planners who take care of every detail. For
more information visit www.hyattregency.com.
The term “Hyatt” is used in this release for convenience to
refer to Hyatt Hotels Corporation and/or one or more of its
affiliates.
About the Owner
Rustaveli Property Ltd. is a special purpose company established
for the development of the Hotel, and is part of the Loyal Capital
Group, founded by Mr. Roman Pipia, a Georgian businessman. Mr.
Pipia’s business interests include Rustavi Azot Limited, the only
fertilizer production plant in the South Caucuses region and one of
Georgia’s biggest exporters; and FC Dinamo Tbilisi, the premier
football club in the country. Rustaveli Property Ltd. has engaged
Reardon Smith Architects (UK) as the project architect, AECOM as
the project manager, and has selected Lynne Hunt London as the
interior designer for the Hotel.
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
Centric™, 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 December 31, 2014, the Company's worldwide portfolio
consisted of 587 properties in 50 countries. For more information,
please visit www.hyatt.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.
HyattSiân Martin+1 312 780 5797sian.martin@hyatt.comorHyatt –
Europe, Africa and Middle EastMalene Rydahl+33 1 53 45 28
38malene.rydahl@hyatt.com
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