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Located On Morocco's Atlantic Coast, Hyatt Place Taghazout Is Expected To Open In 2014. (Photo: Business Wire)

Stocks in this article: H

Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Societe d’Aménagement et de Promotion de la Station de Taghazout (SAPST) for a Hyatt Place hotel in Taghazout, Morocco. The hotel will be developed and owned by SAPST. Hyatt Place Taghazout is the second Hyatt-branded hotel under development in Morocco, joining the previously announced Park Hyatt Marrakech, which is expected to open in 2013. There is currently one Hyatt-branded hotel in Morocco – Hyatt Regency Casablanca.

Located on Morocco's Atlantic coast, Hyatt Place Taghazout is expected to open in 2014. (Photo: Busi ...

Located on Morocco's Atlantic coast, Hyatt Place Taghazout is expected to open in 2014. (Photo: Business Wire)

Hyatt Place Taghazout will be part of a master planned development, Taghazout Bay. Construction on the first phase of development has commenced and is comprised of Hyatt Place Taghazout, a Moroccan spa, a retail center, an 18-hole golf course, a golf club house, and a surf camp, all of which are expected to open in late 2014.

“We are delighted to work with Societe d’Aménagement et de Promotion de la Station de Taghazout on Hyatt Place Taghazout, the first Hyatt Place hotel under development in Morocco,” said Peter Norman, senior vice president of real estate and development, EAME for Hyatt Hotels & Resorts. “We believe that the Hyatt Place brand and the location of the hotel in the Taghazout Bay Resort, near the city of Agadir on Morocco’s Atlantic Coast, will have strong appeal to business and leisure travellers visiting the city.”

“The opening of Hyatt Place Taghazout will be very exciting for Hyatt as we continue to establish Morocco as an influential resort destination,” said Peter Fulton, Executive Vice President, Group President – EAME/Southwest Asia, Hyatt Hotels Corporation.

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