Expected to open late 2024, Grand Hyatt Deer
Valley will expand Hyatt’s brand presence in a vibrant resort
market
Hyatt Hotels Corporation (NYSE:H) and Extell Development Company
today announced the planned expansion of the Grand Hyatt brand in
Park City, Utah. Expected to open late 2024, Grand Hyatt Deer
Valley will mark the debut of the Grand Hyatt brand in Utah and
will be located at the famed Deer Valley Resort. Uniquely designed
as a captivating destination within a destination, the property
will open as the first luxury hotel within Deer Valley Resort’s
forthcoming expansion.
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Grand Hyatt Deer Valley rendering (Photo:
Business Wire)
Situated 40 minutes from the Salt Lake City International
Airport, Grand Hyatt Deer Valley will offer 387 expansive
guestrooms, inclusive of 40 suites, 55 private residences and
38,900 square feet of indoor event space, including a 10,000 square
foot grand ballroom. Guests will be able to enjoy world-class
dining options, including an après ski bar and grill, a signature
bar and restaurant, and coffee bistro. The property will feature an
expansive outdoor event terrace with panoramic mountain views, a
heated year-round pool and whirlpool, fitness center, and more.
Expected to open in time for the 2024/2025 ski season, Grand
Hyatt Deer Valley will mark another milestone in Hyatt’s
intentional growth strategy and provide guests and World of Hyatt
members more ways to explore destinations through memorable
experiences.
“Strategically positioned to meet increasing demand in resort
markets, Grand Hyatt Deer Valley is a testament to the deliberate
expansion of Hyatt’s luxury brands in sought-after destinations,”
said Kimo Bertram, vice president of development, Americas. “The
Grand Hyatt brand celebrates the iconic in small details and
magnificent moments for guests, World of Hyatt members and
customers. Grand Hyatt Deer Valley will deliver on this brand
promise by providing a luxurious retreat for group and leisure
travelers alike after a day of exploration and taking advantage of
all the resort has to offer.”
The hotel’s convenient location at the famed Deer Valley Resort
will provide easy access to the slopes and the resort’s many winter
and summer attractions, including various restaurants, retailers, a
children’s center, and one of the largest ski beaches in the world
– the ideal gathering spot to lounge, soak up the sun and enjoy
breathtaking mountain views. The hotel will be part of the planned
expansion of Deer Valley Resort that will more than double the
resort’s skiable terrain and feature 16 new ski lifts and a
state-of-the-art 10-passenger gondola; such network of chairlifts
will offer efficient access to over 235 ski runs across 10 mountain
peaks. Additionally, the hotel will be located a short drive from
Park City’s historic main street, as well as access to hiking,
mountain biking, golf, horseback riding and various watersports
during the summer months.
“Grand Hyatt Deer Valley has been years in the making and will
be the cornerstone of our new village at Deer Valley Resort. We
have meticulously designed a hotel offering luxurious finishes and
best-in-class amenities to appeal to guests and their families
seeking a stay in the mountains. In addition, Grand Hyatt Deer
Valley will be one of the nation’s only conference facilities
located in a beautiful and easily accessible ski destination—a
combination that is nearly unheard of within the industry,” said
Gary Barnett, Founder & Chairman of Extell Development Company.
“Finally, in recognition of their service to our country, active
and retired military members will receive certain benefits and
amenities while staying at the hotel.”
Following the property’s expected opening in late 2024, World of
Hyatt members will have the opportunity to experience Deer Valley’s
renowned ski resort and earn points on stays to use toward free
nights, dining, wellbeing experiences and more.
To learn more information about the Grand Hyatt brand, please
visit https://www.hyatt.com/brands/grand-hyatt.
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 Grand Hyatt
Around the world, Grand Hyatt hotels bring travel dreams to life
by celebrating the iconic in small details and magnificent moments.
Located at the crossroads of local culture and global business
within major gateway cities and resort destinations, each Grand
Hyatt hotel is uniquely designed to be a captivating destination
within a destination. Grand Hyatt hotels deliver welcoming and
elevated service, first-class accommodations and an abundance of
options within a multicultural backdrop of dramatic architecture
and bold and vibrant design. Grand Hyatt hotels boast inventive
restaurants, luxury spas, fitness centers, and business and meeting
facilities. For additional information or to make a reservation,
please visit grandhyatt.com. Follow @GrandHyatt on Facebook and
Instagram, and tag photos with #GrandHyatt.
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 September 30, 2023, the
Company’s portfolio included more than 1,300 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 Vacation 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 Vacation 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™ and Lindblad 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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Anna Sczepanski Anna.sczepanski@hyatt.com 312-780-5140
Hyatt Hotels (NYSE:H)
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