Expected to open in summer 2024, Hyatt Regency
Panama City will help Hyatt grow its brand in a bustling leisure
and business travel market
Hyatt Hotels Corporation (NYSE:H) in collaboration with Hotel
Properties of Panama Inc., today announced the planned expansion of
the Hyatt Regency brand in the Latin America & Caribbean region
with Hyatt Regency Panama City, expected to open in summer 2024.
Hyatt Regency Panama City will be the first Hyatt Regency hotel in
Panama City and the third Hyatt hotel in Panama. Perfectly situated
for business and leisure travelers, the hotel will be in the heart
of Panama City’s business district, less than 10 miles from Tocumen
International Airport, near the Multiplaza shopping mall and the
new Amador Convention Center.
Hyatt Regency Panama City will offer 382 guestrooms and suites
spread across two towers, as well as a pool, state-of-the-art gym,
variety of restaurants including a wine bar and coffee shop and
20,000 sq ft. of meeting and event space including two ballrooms,
an outdoor terrace for events and a Hyatt Regency Broadcast Lounge,
allowing guests the option to attend a live conference in a hybrid
manner. The hotel’s convenient location in the Panamanian capital
will provide easy access to public transportation and area
attractions like cinemas, restaurants, retailers, recreational
activities and more. Additionally, the hotel is located a short
drive from downtown Panama City, both the Pacific and Caribbean
coasts, and local attractions such as the Panama Canal, the Casco
Viejo neighborhood and the new Fuerte Amador cruise terminal.
Expected to open just in time for the 2024 summer season
following an extensive renovation, Hyatt Regency Panama City will
mark another milestone in Hyatt’s sustained brand growth strategy
in the Latin America and Caribbean region.
“We’ve seen strong demand in travel to Central America,
especially as guests, World of Hyatt members and customers seek
both relaxing leisure vacations and exciting new options for
meetings, events and corporate travel,” said Camilo Bolaños, senior
vice president development, Latin America & the Caribbean. “The
Hyatt Regency brand was built with guests’ needs in mind,
considering every detail and design element, and Hyatt Regency
Panama City will give travelers the opportunity to explore an urban
destination with deep historic roots while giving them the
resources and exceptional service needed to have a seamless,
intuitive stay experience.”
“We are thrilled to collaborate with Hyatt to debut the Hyatt
Regency brand in the heart of Panama City,” said Simon Hafeitz,
president and director of Hotel Properties of Panama Inc.
“Following a multi-million-dollar renovation, Hyatt Regency Panama
City will deliver an unrivaled experience tailored to the needs of
both business and leisure travelers with multifunctional rooms,
notable food and beverage experiences, thoughtful amenities and a
sophisticated design.”
Following the property’s expected opening in the summer of 2024,
World of Hyatt members will have the opportunity to experience
Panama City’s rich history and earn points on stays to use toward
free nights, dining, wellbeing experiences and more.
To learn more information about the Hyatt Regency brand, please
visit hyatt.com/brands/hyatt-regency.
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 Regency
The Hyatt Regency brand prides itself on making travel free from
stress and filled with success. More than 230 conveniently located
Hyatt Regency urban and resort locations in more than 45 countries
around the world serve as the go-to gathering space for every
occasion – from efficient personalized, high-touch business
meetings to energizing family vacations. The brand offers
stress-free environments for seamless gatherings and empathetic
service that anticipates guests’ needs. Designed for productivity
and peace of mind, Hyatt Regency hotels and resorts offer a full
range of services and amenities, including the space to work,
engage or relax; notable culinary experiences; technology-enabled
ways to collaborate; and expert meeting and event planners who can
take care of every detail. For more information, please visit
hyattregency.com. Follow @HyattRegency on Facebook, Twitter and
Instagram, and tag photos with #HyattRegency.
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 June 30, 2023, the
Company’s portfolio included more than 1,250 hotels and
all-inclusive properties in 76 countries across six continents. The
Company's offering includes brands in the Timeless Collection,
including Park Hyatt®, Grand Hyatt®, Hyatt
Regency®, Hyatt®, Hyatt Residence Club®, Hyatt
Place®, Hyatt House®, Hyatt Studios, and
UrCove; the Boundless Collection, including Miraval®,
Alila®, Andaz®, Thompson Hotels®, Dream®
Hotels, Hyatt Centric®, and Caption by Hyatt®;
the Independent Collection, including The Unbound Collection by
Hyatt®, Destination by Hyatt®, and JdV by Hyatt®;
and the Inclusive Collection, including Impression by
Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry®
Wellness & Spa Resorts, Secrets® Resorts & Spas,
Breathless Resorts & Spas®, Dreams® Resorts &
Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels
& Resorts®, and Sunscape® Resorts & Spas.
Subsidiaries of the Company operate the World of Hyatt® loyalty
program, ALG Vacations®, Mr & Mrs Smith™, Unlimited Vacation
Club®, Amstar DMC destination management services, and Trisept
Solutions® technology services. For more information, please visit
www.hyatt.com.
About World of Hyatt
World of Hyatt is Hyatt’s award-winning guest loyalty program
uniting participating locations in Hyatt’s Timeless Collection,
including in the Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®,
Hyatt Residence Club®, Hyatt Place®, Hyatt House®, and UrCove
brands; Boundless Collection, including in the Miraval®, Alila®,
Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and
Caption by Hyatt® brands; Independent Collection, including in The
Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by
Hyatt® brands; and Inclusive Collection, including in the
Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness
& Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts
& Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels &
Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts &
Spas brands. Members who book directly through Hyatt channels can
enjoy personalized care and access to distinct benefits including
Guest of Honor, confirmed suite upgrades at time of booking,
diverse wellbeing offerings, digital key, and exclusive member
rates. With more than 36 million members, World of Hyatt offers a
variety of ways to earn and redeem points for hotel stays, dining
and spa services, wellbeing focused experiences through the FIND
platform; as well as the benefits of Hyatt’s strategic loyalty
collaborations with American Airlines AAdvantage®, Small Luxury
Hotels of the World™ andLindblad Expeditions. Travelers can enroll
for free at hyatt.com, download the World of Hyatt app for android
and IOS devices and connect with World of Hyatt on Facebook,
Instagram, TikTok and Twitter.
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, 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, weather and climate-related events, such as earthquakes,
tsunamis, tornadoes, hurricanes, droughts, floods, wildfires, oil
spills, nuclear incidents, and global outbreaks of pandemics or
contagious diseases, or fear of such outbreaks; the pace and
consistency of recovery following the COVID-19 pandemic and the
long-term effects of the pandemic, additional resurgence, or
COVID-19 variants, including with respect to global and regional
economic activity, travel limitations or bans, the demand for
travel, transient and group business, and levels of consumer
confidence; 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 or other pandemics, epidemics or other health crises; 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 the capital
necessary to fund current operations or implement our plans for
growth; risks associated with potential acquisitions and
dispositions and our ability to successfully integrate completed
acquisitions with existing operations, including with respect to
our acquisition of Apple Leisure Group and Dream Hotel Group and
the successful integration of each business; 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; risks associated with
the introduction of new brand concepts, including 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; and violations of
regulations or laws related to our franchising business and
licensing businesses and our international operations;; 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 Reports on Form 10-Q, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230912296068/en/
Anna Sczepanski Anna.sczepanski@hyatt.com 312-780-5140
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