Hyatt’s first upper-midscale extended-stay
brand experiencing growing pipeline with strong interest from
developers
Hyatt Hotels Corporation (NYSE: H) marks Hyatt’s entry into
upper-midscale lodging in the Americas with the groundbreaking of
the first Hyatt Studios property, set to open in Mobile, Ala. in
early 2025. Hyatt has entered into a franchise agreement with 3H
Group Inc. for Hyatt Studios Mobile/Tillman’s Corner. The Hyatt
Studios brand is expected to be a key accelerator for Hyatt,
building on Hyatt’s six years of industry leading net rooms
growth.
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Groundbreaking of Inaugural Hyatt Studios
Property in Mobile, Alabama (Photo: Business Wire)
“We are proud to achieve this construction milestone in bringing
the Hyatt Studios brand to life,” said Dan Hansen, global head of
Hyatt Studios. “The Hyatt Studios brand is positioned to transform
the upper-midscale, extended-stay experience for our guests and
World of Hyatt members by delivering exceptional value,
best-in-class amenities and the highest level of care. The
continued interest from the development community reaffirms the
Hyatt Studios brand’s compelling value proposition.”
Located in Tillman’s Corner, just outside of Mobile, Ala. and
near scenic Mobile Bay, the first planned Hyatt Studios hotel will
provide guests with easy access to the Gulf Coast. The property
will be located just 10 miles from Mobile International Airport and
near historical and cultural destinations including the USS Alabama
Battleship Memorial Park, GulfQuest National Maritime Museum of the
Gulf of Mexico and the Mobile Carnival Museum. In addition to
attracting tourism, the city boasts a diverse range of industries
in manufacturing, aerospace, and commercial retail, further
enhancing its midscale appeal. The construction of Hyatt Studios
Mobile/Tillman’s Corner is expected to create dozens of local jobs
and enrich Mobile’s hospitality industry.
“Our decision to further our long-time collaboration with Hyatt
was driven by the team's unwavering commitment to understanding the
needs of guests, owners and developers and delivering extraordinary
service and value,” said Hiren Desai, president and CEO, 3H Group,
Inc. “We’re thrilled to embark on this journey with Hyatt to open
the first Hyatt Studios hotel and expand our extended-stay presence
in this growing community. Beyond Mobile, 3H Group hopes to add an
additional Hyatt Studios hotel to our portfolio soon.”
Following Hyatt’s announcement of the Hyatt Studios brand in
April, strong interest from hotel developers is contributing to a
growing pipeline. The brand’s growth is further evidenced by a
newly executed deal for a Hyatt Studios hotel in Portland, Maine,
slated to open in 2025.
Hyatt’s first franchise agreement with Giri Hotel Management – a
hotel group that operates more than 50 hotels in New England – for
a 122-room Hyatt Studios hotel at Portland International Jetport
(PWM) that will serve Maine’s largest city. Portland has witnessed
a continuous surge in leisure and business travel in recent years
with several airlines adding new non-stop routes from PWM and a
variety of industries expanding their presence in the area. This
hotel, in line with the overall Hyatt Studios brand, centers the
needs of an evolving guest demographic, offering cozy home comforts
with the flexibility, amenities, and quality that Hyatt is known
for. The forthcoming hotel will be perfectly situated near
Portland’s charming historic downtown, and breathtaking year-round
destinations along Maine’s coast including Kennebunkport, York
Beach, and Ogunquit, as well as ski resorts in Maine and New
Hampshire.
The Hyatt Studios brand will join the Hyatt Place, Hyatt House
and Caption by Hyatt brands in Hyatt’s select service category and
broaden the guest experiences offered by World of Hyatt, widely
recognized as the industry’s leading loyalty program, quadrupling
in number of members over the past five years. At Hyatt Studios
hotels, guests can anticipate the high quality and contemporary
style that is characteristic of the Hyatt brand, and rooms that
emulate studio apartments offering dedicated space to work, relax
or dine.
Serving extended-stay and transient demand, each Hyatt Studios
hotel will have:
- Innovative self-service amenities, making for a seamless guest
experience
- A best-in-class, 24-hour market with a wide variety of options
– from health-conscious snacks and ready-made meals to sweet and
savory staples to fulfill travel cravings
- In-room kitchens that will feature a full-sized refrigerator
with freezer, dishwasher, and a combination convection
oven/microwave
To learn more about the Hyatt Studios brand, visit
https://www.hyatt.com/development/ourbrands/hyattstudios.
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 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.
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
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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
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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
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economic activity, travel limitations or bans, the demand for
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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
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will make additional updates with respect to those or other
forward-looking statements.
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Anna Sczepanski Hyatt Anna.sczepanski@hyatt.com
Hyatt Hotels (NYSE:H)
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