Hyatt Grows Boundless Portfolio of Lifestyle Brands in the Americas With New Hotel Openings and Strong Development Pipeline Slated Through 2021

Rhea-AI Summary

Hyatt Hotels Corporation (NYSE: H) announced significant growth with nearly 20 new hotel openings in 2020 and plans for further expansions across the Americas through 2021. This growth follows Hyatt's 2018 acquisition of Two Roads Hospitality and aims to enhance guest experiences and loyalty within its brands, including Alila, Hyatt Centric, and Thompson Hotels. The company's strategy focuses on meaningful and authentic travel experiences, adapting to market trends, while ensuring a commitment to sustainability and customer safety amidst the ongoing impacts of the COVID-19 pandemic.

Positive

• Nearly 20 new hotels opened in 2020, showcasing robust expansion.
• Plans for additional hotel openings throughout 2021 across the Americas.
• Growth strategy aligns with consumer demand for authentic travel experiences.

Negative

• COVID-19 pandemic continues to pose challenges to the hospitality industry.

CHICAGO--(BUSINESS WIRE)--Hyatt Hotels Corporation (NYSE: H) announced today mindful growth of the Alila, Hyatt Centric and Thompson Hotels brands with nearly 20 new hotels that have opened in 2020 and hotels planned to open in the Americas through 2021. This strong growth is fueled by Hyatt’s 2018 acquisition of Two Roads Hospitality and Hyatt’s commitment to growing with intent and offering compelling experiences and benefits for guests and World of Hyatt members.

Hyatt’s boundless portfolio – which also includes the Andaz and Caption by Hyatt hotel brands – provides guests opportunities to immerse themselves in distinctive experiences reflective of local culture. Rather than serving as a backdrop to where things happen, hotels in Hyatt’s boundless portfolio are extensions of their surrounding neighborhoods with best-in-class offerings that deliver compelling experiences designed to excite and inspire.

“By thoughtfully growing our lifestyle brands, we are satisfying the desires of those global travelers who are craving rich, meaningful and authentic experiences that offer new perspectives and are culturally impactful,” said Crystal Vinisse Thomas, Hyatt’s global brand leader, lifestyle and luxury. “Our strategy of growing with intent is paying off as we continue to open and develop new properties within the boundless portfolio throughout the Americas, and we look forward to continuing to build on our commitment to deliver the most innovative and reimagined experiences for today’s guests as they begin to travel again.”

The hallmark of Alila hotels is the combination of breathtaking architecture and luxury in immersive locations, set apart by an unprecedented level of private space, crafted artisanship, personalized interactions, and bespoke journeys. Alila means “Surprise” in Sanskrit, which suitably describes the refreshing character of the luxury properties. Alila hotels support sustainable tourism in many ways, such as working to adopt EarthCheck operating standards, integrating the natural, physical and cultural elements of their environments.

The Hyatt Centric brand offers full-service lifestyle hotels located in prime destinations around the world and is one of Hyatt's fastest growing lifestyle brands. Hyatt Centric hotels help fuel guest discovery, located in the heart of the action with passionately engaged team members always on-hand to serve up insider knowledge and provide local expertise.

Thompson Hotels is an award-winning boutique lifestyle brand with a collection of timelessly original properties in urban and resort destinations. Since its founding in 2001, the brand has become synonymous with modern sophisticated travel. Each location offers a thoughtfully curated experience designed to spark thought-provoking conversation, connect guests to world-class culinary offerings, and an exceptionally layered design reflective of the surrounding locale.

2020 Openings:

• Thompson Washington D.C., opened January 2020
• Hyatt Centric Old Town Alexandria (Va.), opened January 2020
• Hyatt Centric Downtown Portland (Ore.), opened February 2020

• Hyatt Centric Las Olas Fort Lauderdale, opened April 2020
  A premier destination for business and leisure travel, Fort Lauderdale welcomed the full-service, 238-room Hyatt Centric Las Olas Fort Lauderdale. Located within the newly built Las Olas tower, the tallest building downtown, the new hotel is Inspired by the waterfront and yachting culture of the city. The hotel’s architecture and interiors were led by Simeone Deary Design Group, and features colors, textures and shapes emblematic of aquatic life.

• Hyatt Centric Downtown Minneapolis, opened June 2020
  Set within the former home of the Minneapolis Athletic Club, Hyatt Centric Downtown Minneapolis is a lifestyle hotel centrally located in the heart of the city. With 154 rooms, including 22 suites, the hotel’s contemporary design and upscale amenities include a lobby bar, a state-of-the-art 7,000-square-foot fitness center with an indoor running track and private event facilities with room to host groups of all sizes.

• Hyatt Centric Center City Philadelphia, opened October 2020
  Hyatt Centric Center City Philadelphia is nestled one block from Rittenhouse Square, in the center of the area’s upscale shops and restaurants. With 332 guestrooms, including 40 executive suites, the 13-story hotel features street-level retail, a restaurant and bar on the second floor, and offers guests access to high-end amenities including a fitness center, event, meeting facilities and lounges for social connectivity and creative collaboration.

• Thompson Dallas, opened November 2020
  As the first Thompson Hotel property in Texas, Thompson Dallas is located in the historic George-Dahl-designed building, The National, and features 219 rooms, including 52 suites, two penthouse suites and two world-class culinary destinations: Nine at The National and Catbird. The $460 million restoration of The National, paired with the Thompson Hotels brand’s elevated culinary offerings, arts and entertainment, and groundbreaking design, bridges Dallas’ rich legacy of The National with the Thompson Hotels brand’s take on modern luxury at the refined edge of travel.

Planned 2021 Openings:

• Alila Marea Beach Resort Encinitas (Calif.)
• Hyatt Centric Downtown Denver
• Hyatt Centric Beale Street Memphis (Tenn.)
• Hyatt Centric 39th & 5th New York
• Hyatt Centric SouthPark Charlotte (N.C.)
• Hyatt Centric Downtown Sacramento (Calif.)
• Hyatt Centric San Salvador (El Salvador)
• Thompson Austin (Texas)
• Thompson Buckhead (Ga.)
• Thompson Denver
• Thompson Hollywood (Calif.)
• Thompson San Antonio
• Thompson Savannah (Ga.)

Reimagining the Guest Experience with Special Offers

As guests and customers consider traveling again, Hyatt is rethinking the guest experience with creativity and care to provide enhanced convenience, flexibility and wellbeing through the following special offers:

Work from Hyatt: Hyatt recently launched the Work From Hyatt extended-stay package and Office for the Day option to give families, couples and individuals a seamless, much-needed change of scenery from their work-from-home routines. Travelers can book the extended-stay package at 90 hotels across North America and the Caribbean to enjoy work- and school-life balance with the comforts of a premium resort experience. The new Office for the Day option is now available daily through May 31, 2021, at more than 400 Hyatt hotels in the Americas, including many hotels within the boundless portfolio. The Office for the Day package includes a private guestroom with the conveniences of an office combined with the comforts and amenities of a premium hotel experience. To learn more about participating properties, availability and pricing, visit hyatt.com/workfromhyatt or call a Hyatt Global Contact Center directly at 1-866-886-5053 and use Special Offer Code WFHYAT.

For more information on all Hyatt offers, visit hyatt.com/offers.

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.

For more information or to book a stay, please visit www.hyatt.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 Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company offering 21 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, operate, manage, franchise, license or provide services to hotels, resorts, branded residences, vacation ownership properties, and fitness and spa locations, 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, Hyatt Residence Club® and Exhale® brand names, and operate 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.

Forward-Looking Statements

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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. 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