Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has signed a management agreement with an affiliate of Island Hospitality Partners, LLC for Hyatt Place Bayamón and El Tropical Casino. It will be the first Hyatt-branded select service hotel in Puerto Rico and, upon opening, will mark the return of Hyatt-branded hotels to Puerto Rico after a nine year absence.
Hyatt Place Bayamon and El Tropical Casino will be the first Hyatt-branded select service hotel in Puerto Rico. (Photo: Business Wire)
Hyatt Place Bayamón and El Tropical Casino, expected to open in the first quarter of 2014, will be a seven story building offering 156 guestrooms with an adjoining casino, free-standing restaurant and bar, and a multi-level parking garage with space for 250 vehicles. The hotel will be located next to the 42-acre Luis A. Ferré Science Park and will also be close to the city’s largest shopping mall. Bayamón is the island’s second most populous city and is located 15 miles southwest of San Juan.
“We are excited to introduce the Hyatt Place brand to Puerto Rico,” said Chris Ivy, senior vice president, real estate and development – North America and Caribbean, Hyatt Hotels & Resorts. “A Hyatt Place presence in the Caribbean is integral to the brand’s expansion.” Currently, there are more than 160 Hyatt Place hotels in operation in the United States, with more than 35 under development throughout the U.S., Europe, the Caribbean, China, Latin America, Southwest Asia, and the Middle East.
Facilities and amenities of Hyatt Place Bayamón and El Tropical Casino will include the Gallery lobby/lounge with 24-hour Guest Kitchen, dining areas offering indoor seating for 80 guests and outdoor seating for 12 guests on the veranda. Other amenities will include 2,075 square feet of flexible meeting space, a fitness center, outdoor swimming pool, and free Wi-Fi everywhere in the hotel.“We are excited to work with Hyatt on this project and to bring Hyatt’s world-class hospitality and the innovative Hyatt Place brand to Puerto Rico,” said Federico Stubbe, Jr., of Island Hospitality Partners, LLC.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts