CHICAGO--(BUSINESS WIRE)--Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate (“Hyatt”) has entered into a joint venture and related agreements with an affiliate of Desarrolladora Mexicana de Inmuebles, S.A. de C.V. (“DMI”) for the development and management of a Hyatt Regency hotel in Guadalajara, Jalisco, Mexico. Hyatt Regency Andares Guadalajara marks the return of Hyatt to the city after a more than 17-year absence and will be the fifth Hyatt Regency-branded hotel in Mexico.
Hyatt Regency Andares Guadalajara will be located in the upscale area of Zapopan in the northwestern section of Guadalajara. The 220-room hotel is part of the second phase of development for the existing Andares Shopping Mall, a mixed-use complex that includes a high-end retail component anchored by Palacio de Hierro and Liverpool department stores, two office towers, and luxury condominiums. Hyatt Regency Andares Guadalajara will be an integral part of the overall Andares development, which will also include additional upscale residential units and retail space as part of its second phase.
“The strength and quality of the Hyatt Regency brand in Mexico is growing rapidly and we believe that Hyatt Regency Andares Guadalajara will attract business and leisure travelers from across the country and abroad,” said Alvaro Leaño, President, DMI. “There is no better time than now to invest in Guadalajara, Mexico’s second largest commercial center which has become a business and commerce powerhouse, and we are delighted to be working with Hyatt and contributing to the economic vitality of the area with this new hotel.”
Hyatt Regency Andares Guadalajara will feature two restaurants, a lounge, approximately 29,000 square feet of indoor and outdoor meeting and event space, spa facilities, a fitness center and an indoor swimming pool. When complete, the Hyatt Regency Andares Guadalajara will not only enjoy the benefits of being an integral component the Andares development, but will also be in close proximity to the region’s medical centers and the Centro Cultural Universitario which is home to one of the most important concert venues in Latin America, Auditorio Telmex.
“We are delighted to be working with DMI and to build further on Hyatt’s strong brand equity and excellent portfolio of hotels in the country. The Andares complex is an impressive development and Hyatt Regency Andares Guadalajara will be a fantastic complement to Andares and the community,” said Myles McGourty, Senior Vice President of Latin America & Caribbean for Hyatt Hotels & Resorts. “Guadalajara is a key center of travel and commerce, and an important gateway for Hyatt as we continue to gain representation for our brands in Mexico.”
Expected to open in late 2016, Hyatt Regency Andares Guadalajara will join four existing Hyatt Regency-branded hotels in Mexico: Hyatt Regency Mexico City, Hyatt Regency Merida, Hyatt Regency Villahermosa and Hyatt Regency Cancun. Additionally, previously announced Hyatt-branded hotels under development in Mexico include Hyatt Ziva Puerto Vallarta, Hyatt Ziva Cancun, Park Hyatt Los Cabos, Park Hyatt Riviera Maya, Hyatt Place La Paz, Hyatt Place Ciudad del Carmen, Hyatt Place Tijuana, Hyatt Playa in Playa del Carmen and Andaz Mayakoba.
Currently, travelers and Hyatt Gold Passport members have seventeen Hyatt-branded hotels to choose from in destinations across Latin America and the Caribbean:
- In Argentina: Palacio Duhau Park Hyatt Buenos Aires and Park Hyatt Mendoza
- In Brazil: Grand Hyatt Sao Paulo
- In Chile: Grand Hyatt Santiago
- In Costa Rica: Andaz Peninsula Papagayo and Hyatt Place San José/Pinares
- In Mexico: Hyatt Regency Cancun, Hyatt Regency Merida, Hyatt Regency Mexico City, Hyatt Regency Villahermosa, Hyatt Place San Jose del Cabo, Hyatt Ziva Los Cabos, and Hyatt Zilara Cancun
- In Puerto Rico: Hyatt Place Bayamon and Hyatt Place Manatí
- In Lesser Antilles/Southern Caribbean: Hyatt Regency Trinidad and Hyatt Regency Aruba Resort, Spa & Casino
Hyatt’s hotel pipeline is larger than it has ever been, and as of December 31, 2013, it included executed management or franchise contracts for approximately 200 hotels across all brands in all of the regions in which Hyatt hotels operate. For more information, please visit www.hyattdevelopment.com.
About Hyatt Regency
Hyatt Regency offers a full range of services and facilities tailored to serve the needs of meeting planners, business travelers and leisure guests. Properties range in size from 180 to over 2,000 rooms and are conveniently located in urban, suburban, airport, convention and resort destinations around the world.
Hyatt Regency convention hotels feature spacious meeting and conference facilities designed to provide a productive environment allowing guests to convene and connect. Hyatt Regency hotels in resort locations cater to couples seeking a getaway, families enjoying a vacation together and corporate groups seeking a functional and relaxed atmosphere in which to conduct business and meetings.
About DMI (Desarrolladora Mexicana de Inmuebles, S.A. de C.V.)
DMI is a privately-held Guadalajara-based national investment, business development and operating company. DMI has invested in, developed and operates large-scale real estate projects developed for both rental income generation and for sale. Their real estate activities include retail, office, residential, hospitality, resort and mixed-use projects, exemplified by the award-winning Andares mixed-use development in Guadalajara. DMI principals also have investment and operating interests in private energy and agro-industrial companies based in Jalisco and Colima respectively. DMI, its subsidiaries and related companies have developed real estate and other businesses with institutional-quality management structures, risk mitigation systems, financial results orientation, and total asset values which have attracted significant institutional investor interest. Active real estate program investments presently involve over 2,000 hectares (about 4,940 acres) of land in major cities throughout Mexico and, in addition to the Guadalajara headquarters office, DMI maintains regional offices for real estate and other key businesses in Colima, Guanajuato, Queretaro and Veracruz. Founded in 1990, DMI is marking its 24th year anniversary in 2014. For further information on DMI activities please visit www.grupodmi.com.mx or, for information on the Andares mixed-use project and lifestyle center, visit www.andares.com.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt House®, Hyatt Zilara™ and Hyatt Ziva™ brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt Residences® and Hyatt Residence Club®. As of December 31, 2013, the Company's worldwide portfolio consisted of 548 properties in 48 countries. For more information, please visit www.hyatt.com.
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, among others, the rate and 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; if our third-party owners, franchisees or development partners are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made 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 laws. 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.