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Expansion Of Hyatt-Branded Hotels In Latin America Continues With The Opening Of First Hyatt Place Outside Of The U.S.

Stocks in this article: H

Hyatt Hotels Corporation (NYSE: H) today announced the opening of Hyatt Place San Jose/Pinares, the first Hyatt-branded hotel in Costa Rica and the first Hyatt Place hotel outside of the United States. In addition to Hyatt Place San Jose/Pinares, 13 previously announced hotels will open across Hyatt’s portfolio of brands in Latin America. When these properties open, there will be a total of 22 Hyatt-branded hotels in Latin America.

“Latin America is a key emerging market and one where we believe our brands, especially our select service offerings, have tremendous potential,” said Stephen Haggerty, global head of real estate and capital strategy, Hyatt Hotels Corporation. “Thanks to accelerating economic development and an increase in business travel, we believe our select service brands will be successful in multiple countries throughout the region, and we are confident Hyatt Place will be as well received in Latin America as it has been in the United States.”

With the opening of Hyatt Place San Jose/Pinares, there are now nine Hyatt-branded hotels in Latin America currently under the Park Hyatt, Grand Hyatt, Hyatt Regency and Hyatt Place brands in Argentina, Brazil, Chile, Costa Rica and Mexico. Additional hotels are under development in Brazil, Chile, Colombia, Costa Rica, Mexico, Panama, and Uruguay, including four Hyatt Place properties.

Hyatt Place San Jose/Pinares introduces the Hyatt Place brand to Latin America. Hyatt Place, launched in 2006, offers upscale select service features inspired by multitasking travelers' 24/7 lifestyle, a stylish design and practical amenities with forward-thinking technology. Hyatt Place hotels expected to open in Latin America in 2013 include Hyatt Place Santiago/Vitacura in Chile, Hyatt Place Panama City/Downtown in Panama, and Hyatt Place San Jose del Cabo in Mexico. Hyatt Place Tijuana in Mexico is expected to open in 2014.

The 120-room Hyatt Place San Jose/Pinares is part of Momentum Pinares, a mixed use commercial complex on the east side of Costa Rica’s capital that includes an approximately 97,000 square foot office tower, a 48,000 square foot medical building, a theater, and shopping mall with 75,000 square feet of retail space.

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