CHICAGO--(BUSINESS WIRE)--Hyatt Hotels Corporation (NYSE: H) announced today plans to expand its Grand Hyatt and Hyatt Regency brands in Pakistan with the signing of management agreements by a Hyatt affiliate for four Hyatt-branded hotels: Grand Hyatt Islamabad, Hyatt Regency Karachi, Hyatt Regency Lahore, and Hyatt Regency Rawalpindi. Bahria Town, one of the largest private developers in Asia, will own the four Hyatt-branded hotels.
“We look forward to collaborating with the Bahria team to open the first Grand Hyatt and Hyatt Regency hotels in Pakistan,” said Peter Norman, senior vice president, acquisitions and development – Europe, Africa, and Middle East (EAME) and Southwest Asia for Hyatt. “Following last year’s announcement for the China-Pakistan Economic Corridor (CPEC), we are optimistic about the growth of Hyatt’s brands in Pakistan. The opening of these hotels will serve as a testament to the global appeal of the Grand Hyatt and Hyatt Regency brands as they continue to expand worldwide and offer more choices to our guests.”
With the announcement a Grand Hyatt and three Hyatt Regency hotels in Pakistan, Hyatt is taking another step in growing its brand footprint in the Middle East and Southwest Asia. The EAME/Southwest Asia region is a significant growth opportunity for Hyatt as the segment accounts for approximately 25 percent of the company’s executed contract rooms base. As of December 31, 2015, the Company had approximately 60 Hyatt-branded hotels under development in EAME/Southwest Asia.
Grand Hyatt Islamabad will be meticulously designed to exemplify the Grand Hyatt brand’s signature level of grandeur with an abundance of options for creating spectacular experiences. Expected to open in 2023, the hotel will offer 400 guestrooms, seven food and beverage outlets, two ballrooms, seven meeting rooms, a spa, fitness facilities, private club, and kids club. Additionally, the hotel will be the first internationally-branded golf resort in Pakistan and will have a state-of-the-art golf club house. The hotel and golf club will be easily accessible from the Murree-Islamabad Expressway, which connects directly to Islamabad's city center and diplomatic area 30 minutes away.
Hyatt Regency Karachi will offer a range of amenities, as well as spaces that will make the hotel a go-to gathering place for any occasion. The hotel will feature approximately 200 guestrooms, a lobby lounge, three-meal restaurant, and more than 17,000 square feet (1,600 square meters) of flexible meeting and event space. The hotel is expected to open in 2023.
Hyatt Regency Lahore will deliver on the modern expectations of today’s travelers and meeting planners. The hotel will feature authentic food and beverage offerings that will build off the Hyatt Regency brand’s history of culinary excellence. The hotel will serve as the perfect venue for a variety of events such as weddings, social banquets, exhibitions, meetings, and conferences. Additionally, the hotel will feature a private club offering food and beverage outlets, tennis courts and banquet facilities, among other amenities. The hotel is expected to open in 2021.
Hyatt Regency Rawalpindi will be designed to connect today’s travelers to who and what matters most to them. The 165-room hotel will offer multiple food and beverage outlets and more than 11,000 square feet (1,100 square meters) of flexible meeting and event space. The hotel is expected to open in 2022.
“We are honored to work with Hyatt and to bring the first Hyatt-branded hotels to Pakistan,” said Ahmed Ali Riaz Malik, CEO of Bahria Town. “Pakistan offers a wealth of opportunity for hotel operators and Grand Hyatt Islamabad, Hyatt Regency Karachi, Hyatt Regency Lahore, and Hyatt Regency Rawalpindi will be excellent additions to our company’s real estate projects within the country and wider region. The combination of the hotels’ locations, style and service will be attractive to both business and leisure travelers. We continue to invest in Pakistan as we are confident in the growth of the country and wider region. We look forward to working with Hyatt to further deliver on our ambitious development plans.”
For more information, please visit www.hyatt.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 Grand Hyatt
Around the world, Grand Hyatt hotels unlock the extraordinary in every moment by creating experiences beyond expectation. 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 reflect its own distinct environment and provides a hub for travelers and locals alike. Grand Hyatt hotels exemplify the pursuit of life lived grandly offering guests superior service, first-class accommodations and an abundance of options within a multicultural backdrop of dramatic architecture and innovative design. Grand Hyatt properties boast inventive restaurants, luxury spas, fitness centers, and business and meeting facilities. Grand Hyatt hotels stand to make every moment memorable through their commitment to #LivingGrand every day. For additional information or to make a reservation, please visit www.grandhyatt.com.
About Hyatt Regency
The Hyatt Regency brand prides itself on connecting travelers to who and what matters most to them. More than 160 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 the space to work, engage or relax; notable culinary experiences; technology-enabled ways to collaborate; and expert event planners who can take care of every detail. For more information, please visit www.hyattregency.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 679 properties in 54 countries, as of September 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 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. These statements include statements about our plans, strategies, occupancy, ADR and growth trends, market share, the number of properties we expect to open in the future, our expected adjusted SG&A expense, our estimated comparable systemwide RevPAR growth, maintenance and enhancement to existing properties capital expenditures, investments in new properties capital expenditures, depreciation and amortization expense and interest expense estimates, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, 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, 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; levels of spending in business and leisure segments as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters such as earthquakes, tsunamis, tornadoes, hurricanes, floods, oil spills, nuclear incidents and global outbreaks of pandemics or contagious diseases or fear of such outbreaks; our ability to successfully achieve certain levels of operating profits at hotels that have performance guarantees in favor of our third party owners; the impact of hotel renovations; our ability to successfully execute our common stock repurchase program; 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, including the entry of new competitors in the lodging business; relationships with colleagues and labor unions and changes in labor laws; 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 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; the timing of acquisitions and dispositions; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); unforeseen terminations of our management or franchise agreements; changes in federal, state, local or foreign tax law; increases in interest rates and operating costs; foreign exchange rate fluctuations or currency restructurings; lack of acceptance of new brands or innovation; our ability to successfully implement our new global loyalty program; 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 industry consolidation, and the markets where we operate; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; violations of regulations or laws related to our franchising business; 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 only as of the date of this press release. We do not undertake or assume any 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.