Hyatt Announces Plans for the Addition of Three Story Hotels in Sweden
Hyatt Hotels Corporation (NYSE: H) has signed franchise agreements with Story Hotels Holding AB to introduce three hotels in Sweden under the JDV Hotel brand. The properties, located in Stockholm and Malmö, will maintain their unique identities while offering reservations through Hyatt's platforms starting April 1, 2021. This expansion aims to enhance Hyatt's independent collection in Europe and meet a growing demand for differentiated hospitality experiences. The hotels will cater to both business and leisure travelers with modern designs and local amenities.
- Expansion of Hyatt's JDV Hotel brand with three new locations in Sweden.
- Unique identity retained for each hotel, appealing to local and international guests.
- Increase in Hyatt's footprint in Sweden, growing from three to four hotels.
- Aligns with Hyatt's strategy to expand its independent collection portfolio in Europe.
- None.
CHICAGO, Jan. 28, 2021 /PRNewswire/ -- Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into franchise agreements with Story Hotels Holding AB to bring three hotels in Sweden under the JDV Hotel brand, helping to grow Hyatt's independent collection brand in Europe. The three boutique hotels – Story Hotel Riddargatan and Story Hotel Signalfabriken in Stockholm, as well as Story Hotel Studio Malmö, Sweden – will all retain their individual hotel names and unique identities. The three Story Hotels will be available for reservation through Hyatt's booking channels and for World of Hyatt members to earn and redeem points for stays starting April 1, 2021.
Hyatt's independent collection portfolio is a collection of brands that not only embrace the locations in which each hotel resides, but serve as a gateway to some of the most sought-after destinations worldwide. Each property brings a sense of place to the guest experience in new and unforgettable ways.
"We are very excited to bring these three Story Hotels in Europe under Hyatt's JDV Hotel brand portfolio and at the same time grow the Hyatt hotel footprint in Sweden," said Felicity Black-Roberts, vice president development for Europe at Hyatt. "We are focused on thoughtful growth in locations that meet our guests and members needs, and the upcoming addition of three Story Hotels help us fuel this growth in markets like Scandinavia, as we collaborate with owners who want to maintain each property's unique identity. With their strong design focus and neighborhood feel, Story Hotels will be the perfect representation of Hyatt's independent collection in Europe."
Story Hotel Riddargatan, Story Hotel Signalfabriken and Story Hotel Studio Malmö are ideally located at the heart of their destinations and each will celebrate the unique neighborhoods in which the properties reside. With modern, Scandinavian design that reflects the edgy nature of both cities, the hotels will offer amenities for both business and leisure travelers.
"It was clear at an early stage that Hyatt and Story Hotels had a very similar vision of how modern upscale living should look and feel," said Staffan Åkerlind, CEO Story Hotels. "We are thrilled to introduce the JDV Hotel brand to Europe and Scandinavia and, we are proud to be working with such an experienced, international hospitality company like Hyatt. We look forward to leveraging their experience to offer excellent service to our guests and benefit from their global scale and distribution platform."
All three hotels will feature individually designed boutique guestrooms, vibrant public spaces and food and beverage offerings popular with both visitors and locals alike. Boutique in size as a reflection of their urban locations, each hotel will offer complimentary access to local gyms during their stay.
Story Hotel Riddargatan, Stockholm
An 83-room property widely believed to be one of Stockholm's original boutique hotels, the Story Hotel Riddargatan will have an industrial design to represent the building's former life as an apartment complex, barber shop and garage. The property is centrally located in the Östermalm area with easy access to vibrant neighborhood restaurants, cafés and bars as well as the high-end shopping district. The hotel will also feature a restaurant, Ling Long, specializing in Southeast Asian cuisine, and one indoor and one outdoor bar.
Story Hotel Signalfabriken, Stockholm
Story Hotel Signalfabriken will feature 83 individually designed guestrooms and a vibrant bar and restaurant, which will host regular DJ performances. Formerly a fire station and town hall, this listed property in Sundbyberg's Torg neighborhood will attract business travelers with meetings in the surrounding areas of Solna, Bromma and Kista. Leisure guests will enjoy the small town feel and abundance of restaurants nearby with quick access to Stockholm's city center in less than ten minutes via the nearby tram, bus and subway lines.
Story Hotel Studio Malmö
Story Hotel Studio Malmö will feature 95 unique guestrooms, all creative and playful in their design to reflect the young and vibrant population of the city. Situated on the top floors of a high-rise building, the hotel offers spectacular views overlooking the city and water. The hotel is part of the mixed-use STUDIO building, which also houses conference and meeting facilities, corporate offices, retail outlets, several restaurants and a café. With its unique waterside location at Universitetsholmen, and close proximity to Malmö's central station, guests can easily explore the city, and nearby Copenhagen via a 35-minute train ride. The hotel's restaurant and cocktail bar, Kasai in the Sky, will deliver food and drink on Malmö's highest outdoor terrace with views of the ocean and city skyline.
Story Hotel Riddargatan, Story Hotel Signalfabriken and Story Hotel Studio Malmö are expected to increase the number of Hyatt hotels in Sweden to four, following the 2020 opening of Stockholm's Hotell Reisen, which is part of The Unbound Collection by Hyatt brand. Fueled by guests' growing desire for unique, differentiated experiences that foster genuine connections with people and cultures, Hyatt recently announced its intention to grow by more than 30 percent in Europe, with a significant focus on developing the footprint of its lifestyle brands.
For more information, please visit www.jdvhotels.com.
Guided by its purpose of care, Hyatt's multi-layered Global Care & Cleanliness Commitment further enhances its operational guidance and resources around colleague and guest safety and peace of mind. More information on Hyatt's commitment can be found here: hyatt.com/care-and-cleanliness.
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 JDV Hotels
A community for the spirited, light-hearted, and young-at-heart, JDV Hotels offers a collection of vibrant, independent hotels that are true reflections of the urban neighborhoods they call home. Each hotel provides an experience that is inclusive in spirit and space, welcoming all vibes, tribes and unique souls—effortlessly bringing people together with joy-driven service. Embracing its namesake, each property invites guests and locals to connect, live in the moment and celebrate the joy of life. Follow @JDVHotels on Facebook, Instagram, and Twitter for news and updates. For more information, please visit www.jdvhotels.com.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company offering 20 premier brands. As of September 30, 2020, the Company's portfolio included more than 950 hotel, all-inclusive, and wellness resort properties in 67 countries across six continents. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top employees, build relationships with guests and create value for shareholders. The Company's subsidiaries develop, own, lease, operate, manage, franchise, license or provide services to hotels, resorts, branded residences, and vacation ownership properties, including under the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination®, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, Joie de Vivre®, Hyatt House®, Hyatt Place®,tommie™, UrCove, and Hyatt Residence Club® brand names, and operates the World of Hyatt® loyalty program that provides distinct benefits and exclusive experiences to its valued members. For more information, please visit www.hyatt.com.
About Story Hotel Holding AB
Story Hotel Holding is the parent company of Story Hotel Riddargatan, Story Hotel Signalfabriken and Story Hotel Studio Malmö, with a total of 261 hotel rooms and 519 beds.The Company's vision is to acquire and open additional Story Hotels in Scandinavia and Northern Europe within a few years and to continue to challenge the conventional hotel industry by taking advantage of technological solutions, pay homage to individualism and offering creative hotel alternatives inspired by design, art and music.
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, but are not limited to, the short- and longer-term effects of the COVID-19 pandemic, including on the demand for travel, transient and group business, and levels of consumer confidence; actions that governments, businesses, and individuals take in response to the COVID-19 pandemic or any resurgence, including limiting or banning travel; the impact of the COVID-19 pandemic, and actions taken in response to the COVID-19 pandemic or any resurgence, on global and regional economies, travel, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretionary spending; the ability of third-party owners, franchisees or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic; the duration of the COVID-19 pandemic and the pace of recovery following the pandemic or any resurgence; 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; levels of spending in business and leisure 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, such as the COVID-19 pandemic; 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 and common stock repurchase program and quarterly dividend, including a reduction in or elimination 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 and 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 industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty 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 U.S. Securities and Exchange Commission ("SEC"), including our annual report on Form 10-K and our Quarterly Report on Form 10-Q filed on May 7, 2020, which filings are available from the SEC. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements. 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 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 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.
Photo - https://mma.prnewswire.com/media/1428693/Hyatt_Story_Hotel_Studio_Malmo.jpg
View original content to download multimedia:http://www.prnewswire.com/news-releases/hyatt-announces-plans-for-the-addition-of-three-story-hotels-in-sweden-301216953.html
SOURCE Hyatt Hotels Corporation
FAQ
What are the new hotels Hyatt is adding in Sweden?
When will the new Story Hotels in Sweden be available for booking?
What brand will the new Hyatt hotels in Sweden operate under?
How does this expansion fit into Hyatt's growth strategy?
How many Hyatt hotels will there be in Sweden after this expansion?
