Hyatt Announces Milestone Development Plans for Hyatt Centric Edinburgh Haymarket

Rhea-AI Summary

Hyatt Hotels Corporation (NYSE: H) has entered a franchise agreement with the Edinburgh International Conference Centre for a new Hyatt Centric hotel in Edinburgh, Scotland. The 349-room property, set to open in mid-2025, marks Hyatt's first hotel in Scotland and second Hyatt Centric hotel in the UK. Located close to the EICC and Edinburgh’s iconic landmarks, the hotel aims to attract leisure and business travelers. It will feature sustainable design, various dining options, and amenities like a gym and meeting rooms, enhancing Hyatt's portfolio in a key market.

Positive

• First Hyatt hotel in Scotland, expanding the brand's presence.
• Strategic location near key landmarks and transportation hubs.
• Sustainable design by renowned architectural firm Foster + Partners.

Negative

• None.

Located in the heart of the city, the full-service lifestyle property will mark the first Hyatt hotel in Scotland and second Hyatt Centric hotel in the United Kingdom

CHICAGO--(BUSINESS WIRE)-- Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a franchise agreement with Edinburgh International Conference Centre (EICC) for Hyatt Centric Edinburgh Haymarket. Slated to open in mid-2025, the 349-room property will mark the first Hyatt hotel in Scotland, signifying a key milestone for Hyatt’s strategic brand growth in the U.K.

Located less than 1,000 feet (300 meters) from the EICC, Hyatt Centric Edinburgh Haymarket will be a part of the Haymarket Edinburgh development, which will encompass office blocks and retail units. In collaboration with Edinburgh College, the EICC development will also include a world-class hospitality training academy for students and trainees focused on a career path in Scotland’s leisure, hospitality, and tourism industry. The new Hyatt Centric hotel will be a highly attractive option for national and international leisure and business travelers, and hospitality training academy students, and will serve as a launchpad for discovering the city’s rich history and culture.

The hotel will be situated near some of Edinburgh’s most famous landmarks, including the iconic Edinburgh Castle, National Museum of Scotland, and the Old Town. Those looking to experience the city like a local will be drawn to the St James’ Quarter, New Town, and George Street shopping and cultural districts, all of which will be walking distance from the hotel. The property will also be conveniently located just six miles (10 kilometers) away from Edinburgh International Airport, which connects travelers directly to more than 150 destinations worldwide.

“We are thrilled to be collaborating with the Edinburgh International Conference Center on Hyatt Centric Haymarket Edinburgh, which will mark the Hyatt Centric brand’s entry into one of the world’s most celebrated capital cities,” said Felicity Black-Roberts, Hyatt’s Vice President Development for Europe and North Africa. “This new-build development demonstrates Hyatt’s commitment to growing its portfolio of lifestyle brands across the U.K, in locations that matter most to our guests, members, customers, and owners.”

The full-service lifestyle hotel will offer 349 guestrooms, a gym, and four meeting rooms, as well as creative dining experiences that will appeal to guests and locals alike. Visitors will enjoy six different rotating street food brands through its fresh and exciting dining concept, changing regularly to reflect the spirit of Edinburgh’s thriving local culinary scene.

The hotel is being designed as a sustainable and upscale property by Foster + Partners, a world-famous architectural firm founded by Norman Foster, renowned for its holistic approach to sustainability and responsible design. Interiors are being designed by international architecture and design firm Ica, one of the world’s leading, expert-led hotel interior design consultancies, headquartered in Glasgow.

“The Haymarket Edinburgh development is central to the EICC’s future as Scotland's leading conference venue, and aligns with our mission to create an environment to inspire ideas that change the world,” said Marshall Dallas, Chief Executive of EICC. “Hyatt Centric Edinburgh Haymarket will be a cornerstone to attracting local and international travelers and notable luminaries to our venue each year. We are thrilled to work with Hyatt on what will be the first Hyatt hotel in Scotland, and look forward to the meaningful opportunities this property will bring to the city of Edinburgh.”

Hyatt Centric Edinburgh Haymarket will join 16 Hyatt-branded properties across the U.K., and will mark the second Hyatt Centric hotel in the country, joining Hyatt Centric Cambridge.

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 Hyatt Centric

Hyatt Centric is a brand of full-service lifestyle hotels located in prime destinations. Created to connect guests to the heart of the action, Hyatt Centric hotels are thoughtfully designed to enable exploration and discovery, so they never miss a moment of adventure. Each hotel offers social spaces to connect with others in the lobby, meanwhile the bar and restaurant are local hot spots where great conversations, locally inspired food and signature cocktails can be enjoyed. Streamlined modern rooms focus on delivering everything guests want and nothing they don’t. A passionately engaged team is there to provide local expertise on the best food, nightlife, and activities the destination has to offer. For more information, please visit hyattcentric.com. Follow @HyattCentric on Facebook and Instagram, and tag photos with #HyattCentric.

About Edinburgh International Conference Centre (EICC)

The EICC opened its doors in 1995 and has since played host to over 1.5 million delegates, over 3,500 events and has generated around £750 million in economic impact for Edinburgh and the surrounding areas.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of March 31, 2022, the Company’s portfolio included more than 1,150 hotels and all-inclusive properties in 71 countries across six continents. The Company's offering includes the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination by Hyatt™, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, JdV by Hyatt™, Hyatt House®, Hyatt Place®, UrCove, and Hyatt Residence Club® brands, as well as resort and hotel brands under the AMR™ Collection, including Secrets® Resorts & Spas, Dreams® Resorts & Spas, Breathless Resorts & Spas®, Zoëtry® Wellness & Spa Resorts, Vivid Hotels & Resorts®, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. 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. These statements include statements about our plans, strategies, outlook, occupancy, the impact of the COVID-19 pandemic and pace of recovery, the amount by which the Company intends to reduce its real estate asset base and the anticipated timeframe for such asset dispositions, the number of properties we expect to open in the future, booking trends, RevPAR trends, our expected Adjusted SG&A expense, our expected capital expenditures, our expected net rooms growth, 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, but are not limited to: risks associated with the acquisition of ALG, including the related incurrence of additional material indebtedness; our ability to realize the anticipated benefits of the acquisition of ALG as rapidly or to the extent anticipated, including successful integration of the ALG business; the duration and severity of the COVID-19 pandemic and the pace of recovery following the pandemic, any additional resurgence, or COVID-19 variants; the short and long-term effects of the COVID-19 pandemic, including on the demand for travel, transient and group business, and levels of consumer confidence; the impact of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants, and the impact of actions that governments, businesses, and individuals take in response, on global and regional economies, travel limitations or bans, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretionary spending; the broad distribution and efficacy of COVID-19 vaccines and treatments, wide acceptance by the general population of such vaccines, and the availability, use, and effectiveness of COVID-19 testing, including at-home testing kits; the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and the pace of economic recovery following economic downturns; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group segments as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geo-political conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters such as earthquakes, tsunamis, tornadoes, hurricanes, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party property owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and the introduction of new brand concepts; the timing of acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; declines in the value of our real estate assets; unforeseen terminations of our management or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates, wages, and other operating costs; foreign exchange rate fluctuations or currency restructurings; lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, including as a result of the COVID-19 pandemic, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and Unlimited Vacation Club paid membership program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; violations of regulations or laws related to our franchising business; and other risks discussed in the Company's filings with the SEC, including our annual report on Form 10-K, which filings are available from the SEC. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We do not undertake or assume any 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 law. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220601005603/en/

Glennie Janssen

Hyatt

glennie.janssen@hyatt.com

Marie Cazaux

Hyatt – Western Europe

marie.cazaux@hyatt.com

Source: Hyatt Hotels Corporation

FAQ

What is the opening date for Hyatt Centric Edinburgh Haymarket?

Hyatt Centric Edinburgh Haymarket is slated to open in mid-2025.

How many rooms will the Hyatt Centric Edinburgh Haymarket have?

The hotel will feature 349 guestrooms.

What significance does Hyatt Centric Edinburgh Haymarket hold for Hyatt?

It marks the first Hyatt hotel in Scotland and the second Hyatt Centric hotel in the UK.

What amenities will be available at Hyatt Centric Edinburgh Haymarket?

The hotel will offer a gym, four meeting rooms, and diverse dining options.

Where is Hyatt Centric Edinburgh Haymarket located?

The hotel is situated near the Edinburgh International Conference Centre and major city landmarks.