Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into an agreement with Bonifacio Landmark Realty and Development Corp. (BLC), a joint-venture company between property developer Federal Land Inc. and Japanese financial services group ORIX Corporation, for a Grand Hyatt hotel and Grand Hyatt branded residences in Manila, Philippines.
Expected to open in 2015, Grand Hyatt Manila and Residences will be part of a two-tower upscale mixed use project in the residential, entertainment and business district of Fort Bonifacio Global City in Metro Manila. Grand Hyatt Manila will be located on the top 14 floors of the 66-story office and hotel tower, and will offer 438 guestrooms. Additional hotel amenities will include a dramatic and energetic lobby, multiple food and beverage offerings, a spa, fitness center and pool, and comprehensive business and meeting facilities with state of the art technology. The residences will be located in the second tower, and will offer 220 luxury units with private access to the hotel’s amenities, including the spa, fitness center and pool and restaurants.
Just recently, the substructure of the Grand Hyatt Manila was topped off, marking another milestone for the project. Wong + Ouyang and Ove Arup & Partners are the architect and engineer responsible for the Grand Hyatt Hotel and Residences; the firms have also worked on several other Hyatt projects, including Grand Hyatt Shanghai and Grand Hyatt Hong Kong. Bilkey Llinas Design will design the interiors of the hotel.
“As the political, economic, social, and cultural center of the Philippines, Manila is attracting entrepreneurs and business owners that have an appetite for luxury brands and residences,” said Ratnesh Verma, senior vice president of real estate and development, Asia Pacific, Hyatt Hotels & Resorts. “Grand Hyatt Manila and Residences is a remarkable opportunity to expand the presence of the iconic Grand Hyatt brand in this rapidly growing Southeast Asia market.”
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