Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Beijing Lixing Property Development Co., Ltd for a new Hyatt Regency hotel in Beijing. Expected to open in 2017, Hyatt Regency Beijing, Wangjing will be the first Hyatt Regency in this key gateway city, joining the two existing Hyatt-branded hotels, Park Hyatt Beijing and Grand Hyatt Beijing.
“We are excited to bring the Hyatt Regency brand to one of the most sought-after cities in the world and further expand Hyatt’s brand presence in the capital city of China,” said Larry Tchou, Group President, Asia Pacific, Hyatt Hotels Corporation. “We are delighted to work with Beijing Lixing Property Development Co., Ltd to introduce world-class facilities and we look forward to bringing Hyatt’s authentic hospitality to the Wangjing community.”
Located in northeastern Beijing, Hyatt Regency Beijing, Wangjing will be part of a mixed use development, comprised of the hotel, three high-end office buildings, retail spaces, and a central park area. Designed by the world-renowned architect Kengo Kuma, the hotel will be integrated into the adjacent park with a sunken garden and green elements throughout the premises, providing a perfect communal space for relaxation or business in the surrounding community.
Hyatt Regency Beijing, Wangjing will feature 349 guestrooms, an array of restaurants and bars, multi-functional event spaces, a fitness center, a spa, and a swimming pool.About Hyatt Regency Hyatt Regency hotels are conveniently located in urban, suburban, airport, convention and resort destinations around the world. Properties range in size up to more than 2,000 rooms, feature intimate and large meeting spaces and offer a full range of services and dining options tailored to serve the needs of conventions, business travelers or resort vacationers. Hyatt Regency enables all guests – whether they are traveling to work, unwind or gather in celebration – to feel productive and revitalized. www.hyattregency.com About Hyatt Hotels Corporation Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt House®, Hyatt Zilara TM , and Hyatt Ziva TM brand names and have locations on six continents. Hyatt Residential Group, Inc. , a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt Residences TM and Hyatt Residence Club TM . As of September 30, 2013, the Company's worldwide portfolio consisted of 535 properties in 47 countries. For more information, please visit www.hyatt.com. Forward-Looking Statements Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, the rate and pace of economic recovery following economic downturns; levels of spending in business and leisure segments as well as consumer confidence; declines in occupancy and average daily rate; if our third-party owners, franchisees or development partners are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
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