CHICAGO--(BUSINESS WIRE)--Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with R.C. Hedreen Company for the operation of a Hyatt Regency hotel currently under development in Seattle, Wash. Expected to open in mid-2018, the premium, full service hotel will be located in Seattle’s Denny Triangle neighborhood at 8th and 9th Avenues between Stewart and Howell Streets in downtown Seattle.
“Developing a Hyatt Regency hotel in downtown Seattle is consistent with our company’s objective to grow strategically in gateway destinations where our guests want us to be, and to do so with great owners and developers like R.C. Hedreen Company,” said David Tarr, senior vice president of real estate and development, Hyatt. “We look forward to offering our guests and Hyatt’s loyal group of meeting and event planners an outstanding new lodging option in the heart of this dynamic city.”
The Hyatt Regency brand experience is designed around one objective: to connect today’s travelers to who and what matters most to them. Hyatt Regency Seattle is set to be the largest hotel in the Pacific Northwest, offering 1,260 smartly designed guestrooms, more than 100,000 square feet of flexible meeting and event facilities, multiple food and beverage outlets, and an expansive Regency Club lounge. The hotel will be located two blocks from the existing Washington State Convention Center and immediately adjacent to the proposed convention center expansion, making Hyatt Regency Seattle an ideal base for convention attendees.
“The construction and operation of Hyatt Regency Seattle is a major economic win for the entire Seattle area and Pacific Northwest region, creating jobs, revenue and a world-class hotel experience for travelers and meeting and event planners,” said Richard C. Hedreen, chairman, R.C. Hedreen Company. “We are excited to bring a Hyatt Regency hotel to Seattle, and believe the globally recognized brand will resonate with the growing base of business and leisure travelers visiting the city.”
Hyatt Regency Seattle will be located in the center of Seattle and proximate to Pike Place Market, the Space Needle and the Seattle Aquarium, as well as Seattle’s Capitol Hill and Lake Union neighborhoods, connecting guests to retail and dining, entertainment and nightlife venues.
R.C. Hedreen Company currently owns Grand Hyatt Seattle and Hyatt at Olive 8.
For more information about the Hyatt Regency brand, please visit www.hyattregency.com.
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 connecting travelers to who and what matters most to them. More than 168 conveniently located Hyatt Regency urban and resort locations in over 30 countries around the world serve as the go-to gathering space for every occasion – from efficient business meetings to memorable family vacations. The brand offers a one-stop experience that puts everything guests need right at their fingertips. Hyatt Regency hotels and resorts offer a full range of services and amenities, including notable culinary experiences; technology-enabled ways to collaborate; the space to work, engage or relax; and expert planners who can take care of every detail. For more information visit www.hyattregency.com.
ABOUT R.C. HEDREEN COMPANY
R.C. Hedreen Company and its affiliates have been involved in the development, ownership and management of world-class investment properties since 1963. The company has shifted its focus primarily to luxury hotels over the past decade, but its portfolio of successful projects includes retail, high-rise office buildings and single and multi-family homes. For more information, please visit www.rchco.com.
ABOUT HYATT HOTELS CORPORATION
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 12 premier brands and 667 properties in 54 countries, as of June 30, 2016. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to create value for shareholders, build relationships with guests and attract the best colleagues in the industry. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences and vacation ownership properties, including under the Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric™, The Unbound Collection by Hyatt™, Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™ and Hyatt Residence Club® brand names and have locations on six continents. 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 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 our actual results, performance or achievements 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; 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 the introduction of new brand concepts; changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; general volatility of the capital markets and our ability to access such 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 U.S. Securities and Exchange Commission. 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.
