Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a management agreement with China Resources Land Limited for a Park Hyatt hotel in Qingdao, China. China Resources Land Limited is the owner of Grand Hyatt Shenzhen, which opened in 2009, and is the owner and developer of five additional Hyatt-branded hotels under development in China, including Park Hyatt Hangzhou, Grand Hyatt Dalian, Grand Hyatt Hefei, Grand Hyatt Shenyang, and Grand Hyatt Zhengzhou. Park Hyatt Qingdao will be the second Hyatt-branded hotel in Qingdao, following the opening of Hyatt Regency Qingdao, which is slated to open at the end of 2012.
“Qingdao is a key economic powerhouse in Shandong Province and one of China’s most important ports, and is also a popular tourist destination and a renowned summer retreat,” said Larry Tchou, Group President, Asia Pacific, Hyatt Hotels and Resorts. “We believe Park Hyatt Qingdao will deliver an unprecedented level of luxury and unrivalled hospitality experience to guests visiting this bustling gateway city. This hotel is our seventh hotel project with China Resources Land Limited, which is significant because it further underscores our relationship with this organization, as well as our commitment to creating preference by enhancing distribution of Hyatt-branded hotels throughout China, a market where our guests are frequently traveling.”
Expected to open in 2016, Park Hyatt Qingdao will be centrally located in Qingdao’s Central Business District on Shandong Road. The hotel will be part of City Crossing, a mixed used complex that will incorporate high-end residential buildings, serviced apartments, office space, and luxury shopping facilities. Park Hyatt Qingdao will be located on the upper levels of a 250-meter high skyscraper with office space underneath. The hotel will offer 247 guestrooms and suites, and will also feature an array of restaurants and bars, multi-purpose meeting and banquet spaces, a fitness center, a pool and a spa.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV