Hyatt Announces Plans for a Park Hyatt Hotel in Brazil
Park Hyatt Foz do Iguaçu will become the first Park Hyatt hotel in Brazil
CHICAGO--(BUSINESS WIRE)--Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management services agreement with 5 Star Empreendimentos Imobiliários Ltda for a Park Hyatt hotel in Foz do Iguaçu, Brazil. Park Hyatt Foz do Iguaçu will become the first Park Hyatt hotel in Brazil and is expected to open in 2017.
“Hyatt shares our vision for creating a new sophisticated resort offering for travelers. We wish that our guests’ journey goes beyond the natural wonders of Foz do Iguaçu so they can also enjoy the enriching and memorable experiences Park Hyatt is known for creating.”
Park Hyatt Foz do Iguaçu will be located in the city of Foz do Iguaçu, Paraná in southwest Brazil. The city is home to Iguaçu National Park, a world heritage site that is world-renown for its waterfalls aptly named Iguaçu Falls. The national park shares its borders with Paraguay and Argentina, making it a coveted resort, eco-travel and meetings and incentives destination.
The hotel will be an important component of a mixed-use development that will be situated on a 98-acre parcel of land located on the riverbank of the Iguaçu River. The development will also include 30 Park Hyatt-branded two and three-bedroom homes, residential sites for single-family homes and a 25 acre protected nature reserve. Park Hyatt Foz do Iguaçu will offer the brand’s signature personalized services with 170 luxury rooms and suites, four restaurants and bars, a spa, a fitness center, an outdoor pool, and more than 16,146 square feet (1,500 square meters) of meeting and event space. The hotel is located 15 minutes from downtown Foz do Iguaçu and approximately six miles (10 kilometers) from Foz do Iguaçu National Park.
“In recent years, Hyatt has made a concerted effort to expand its brand presence in Brazil, and we couldn’t be more pleased to introduce the Park Hyatt brand in this world-class destination. We believe the brand’s reputation for personalized luxury and sophistication will be a welcomed offering to guests traveling to Foz do Iguacu,” said Pat McCudden, senior vice president, real estate and development, Latin America and Caribbean for Hyatt. “The development of the Park Hyatt Foz do Iguaçu is a significant step in our efforts to enhance guest loyalty by expanding the presence of Hyatt-branded hotels around the world to destinations where our guests are traveling.”
“We are delighted to work with Hyatt on this new development, which we believe will enhance Foz do Iguaçu as a premier destination for leisure and group travel,” said Armando Nasser, president, Fenicia Group S.A. “Hyatt shares our vision for creating a new sophisticated resort offering for travelers. We wish that our guests’ journey goes beyond the natural wonders of Foz do Iguaçu so they can also enjoy the enriching and memorable experiences Park Hyatt is known for creating.”
The Park Hyatt brand recently debuted its global flagship hotel, Park Hyatt New York, in Manhattan at 153 West 57th Street between Sixth and Seventh Avenues, which is within walking distance to Central Park and across the street from historic Carnegie Hall. The hotel marks a significant milestone for the Park Hyatt brand, giving it representation in a key market and boosting the brand’s global visibility. In Latin America and the Caribbean, Park Hyatt hotels are located in Argentina with Palacio Duhau – Park Hyatt Buenos Aires and Park Hyatt Mendoza. In addition, Park Hyatt hotels are under development in Los Cabos, Mexico, the Riviera Maya in Mexico, and St. Kitts in the Caribbean.
Hyatt is currently represented in Brazil by Grand Hyatt São Paulo, a full service, luxury hotel. Currently, Grand Hyatt Rio de Janeiro is under construction and is scheduled to open in late 2015 in Rio de Janeiro’s Barra da Tijuca borough. In addition, Hyatt Place São José do Rio Preto is under design and it is scheduled to open in mid-2016 in the northwestern area of the state of São Paulo.
Hyatt continues to grow its portfolio across all brands globally. As of June 30, 2014, the Company's executed contract base consisted of approximately 240 hotels or approximately 54,000 rooms. For more information, please visit www.hyattdevelopment.com.
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation or one or more of its affiliates.
About Park Hyatt
Park Hyatt hotels provide discerning, affluent business and leisure guests with elegant and luxurious accommodations. Guests of Park Hyatt hotels receive highly attentive personal service in an intimate environment. Located in several of the world's premier destinations, each Park Hyatt hotel is custom designed to combine sophistication with a distinctive regional character. Park Hyatt hotels feature well-appointed guestrooms, meeting and special event spaces for groups, critically acclaimed art, food and beverage programs and signature restaurants featuring award-winning chefs. There are currently 34 Park Hyatt hotels in the following locations: Abu Dhabi, Beaver Creek, Beijing, Buenos Aires, Busan, Canberra, Changbaishan, Chennai, Chicago, Dubai, Goa, Hamburg, Hyderabad, Istanbul, Jeddah, Maldives, Melbourne, Mendoza, Milan, Moscow, New York, Ningbo, North San Diego, Paris, Saigon, Seoul, Shanghai, Siem Reap, Sydney, Tokyo, Toronto, Vienna, Washington D.C. and Zurich. For more information, visit parkhyatt.com.
About 5 Star Empreendimentos Imobiliários Ltda.
5 Star Empreendimentos Imobiliários Ltda. is the real estate and hospitality arm of Fenicia Group S.A. Founded in the mid 1980s, Fenicia Group S.A. operates in Brazil, Paraguay and Uruguay through wholesale, retail and distribution of luxury brands. Fenicia Group owns and manages a luxury department store in Ciudad del Este, Paraguay, called SAX (www.sax.com.py), which sells luxury clothing, accessories, home decoration, watches and food & beverage items under more than 170 prestigious brands, including Armani, Cartier, Dior, Prada, Nike and Godiva. In the optical industry, Fenicia Group owns Optosul, which is licensed to distribute premium brands in Brazil and Uruguay such as Bulgari, Chanel, Ralph Lauren, Ray Ban and Vuarnet. They also own Universal Optical, a laboratory that specializes in the manufacture of lens and holds the Star Lens brand. Fenicia Group business partner for this project is Serena Group S.A. Serena Group holds exclusive distribution rights for Pioneer audio branded electronics in certain Latin America countries.
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 June 30, 2014, the Company's worldwide portfolio consisted of 563 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.