CHICAGO--(BUSINESS WIRE)--Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into an agreement with an affiliate of BIM Group to develop a 110-key Park Hyatt Phu Quoc hotel as well as 65 residences. Slated to open in 2022, Park Hyatt Phu Quoc will offer discerning travelers a sophisticated resort destination surrounded by pristine nature. Park Hyatt Phu Quoc will join the award-winning Park Hyatt Saigon and is the luxury brand’s first resort in Vietnam.
“As Hyatt grows its resort presence in Vietnam, we are delighted to bring the Park Hyatt brand to a remarkable destination such as Phu Quoc Island with its rich biodiversity, beautiful beaches and idyllic surroundings,” said David Udell, group president, Asia-Pacific, Hyatt Hotels Corporation. “We are pleased to embark on our relationship with BIM Group with this landmark project to bring the Park Hyatt brand’s refined residential and luxurious hospitality to Phu Quoc.”
Park Hyatt Phu Quoc will offer guests an exclusive oasis, a sophisticated home-away-from-home with design inspired by traditional Vietnamese villages. Featuring exceptional, luxurious interiors with exquisite Vietnamese accents, all guestrooms, suites and villas will also offer stunning sea views.
Other resort facilities will include two dining outlets, a bar, a pool side barbecue, two swimming pools, a lakeside spa, a gym house with a lap pool, a Camp Hyatt kids’ village, more than 4,300 square feet (400 square meters) of event space and an organic farm.
“Meticulously created with authentic local designs and craftsmanship, Park Hyatt Phu Quoc represents true luxury in Vietnam,” said Le Minh Dung, vice general director, BIM Group. “Located in one of the most exclusive locations in the country, the ultra-luxury resort and beachfront villas will provide guests with an exclusive sanctuary surrounded by breathtaking nature. We are delighted to work with Hyatt on this exciting project and confident that the company’s international hospitality expertise will enable us to introduce a new kind of luxury and sophistication to Phu Quoc.”
Situated on the southwestern tip of Phu Quoc Island, the hotel and residences will be positioned to offer guests and residents mesmerizing sunset views. The development will stretch across 160 acres of land bordered by an expansive mile-long white sand beach on one side and lush undulating hills on the other. Park Hyatt Phu Quoc will be a 30-minute drive from Phu Quoc International Airport, with direct access via the main north-south highway, and 40 minutes from Duong Dong, the island’s main town.
Phu Quoc is Vietnam’s largest island. Half of the island is within the confines of the national park and UNESCO World Heritage-designated Kien Giang Biosphere Reserve, one of the largest biosphere reserves in Southeast Asia. The reserve covers an extensive area of tropical rain forests, coral reefs and wetlands and is home to hundreds of species of plants and wild animals.
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 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 personalized 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 unparalleled enrichment. 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 40 Park Hyatt hotels in the following locations: Abu Dhabi, Bangkok, Beaver Creek, Beijing, Buenos Aires, Busan, Canberra, Changbaishan, Carlsbad, Chennai, Chicago, Dubai, Goa, Guangzhou, Hamburg, Hangzhou, Hyderabad, Istanbul, Jeddah, Maldives, Mallorca, Melbourne, Mendoza, Milan, Moscow, New York, Ningbo, Paris, Saigon, Sanya, Seoul, Shanghai, Siem Reap, St. Kitts, Sydney, Tokyo, Toronto (under renovation), Vienna, Washington, D.C., Zanzibar, and Zurich. For more information, please visit parkhyatt.com. Follow @ParkHyatt on Facebook, Twitter and Instagram, and tag photos with #LuxuryIsPersonal.
About BIM Group
BIM Group is a diversified corporation in Vietnam, successfully establishing its mark in four main business fields namely: tourism development and real estate investment, agriculture – food, commercial services and renewable energy. BIM Land is BIM Group’s business arm in the tourism development and real estate investment sector. It is one of Vietnam's largest real estate developers with dominant positions in key tourism-focused submarkets that benefit from robust urbanization, tourism growth and industrialization. As a prestigious business developer, BIM Group works together with other design houses, reputable construction contractors and top property management companies to implement all of BIM Group’s real estate projects. The company is the partner of choice for global hospitality and retail brands by virtue of possessing the largest portfolio of high-end properties. Focusing on ensuring sustainable profitability over time on the basis of effective business policies, comprehensive development and abiding prestige, BIM Land has steadily established its stature as a valued pioneer in the business community, contributing to the country’s economic growth.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 19 premier brands. As of December 31, 2018, the Company's portfolio included more than 850 properties in 60 countries across six continents. 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 attract and retain top colleagues, build relationships with guests and create value for shareholders. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences, vacation ownership properties, and fitness and spa locations, including under the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination®, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Hyatt House®, Hyatt Place®, Joie de Vivre®, tommie™, Hyatt Residence Club® and Exhale® brand names, and operates the World of Hyatt® loyalty program that provides distinct benefits and exclusive experiences to its valued members. 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, but are not limited to, statements related to the Company’s outlook, estimated Adjusted EBITDA contribution of the transaction, estimated integration-related costs of the transaction, plans, objectives, goals, expectations, beliefs, business strategies, future events, business conditions, business trends and expectations, 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, the risks discussed in the Company’s filings with the SEC, including our annual report on Form 10-K and subsequent reports, 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.