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Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate (“Hyatt”) has entered into a joint venture and related agreements with an affiliate of Desarrolladora Mexicana de Inmuebles, S.A. de C.V. (“DMI”) for the development and management of a Hyatt Regency hotel in Guadalajara, Jalisco, Mexico. Hyatt Regency Andares Guadalajara marks the return of Hyatt to the city after a more than 17-year absence and will be the fifth Hyatt Regency-branded hotel in Mexico.
Hyatt Regency Andares Guadalajara will be located in the upscale area of Zapopan in the northwestern section of Guadalajara. The 220-room hotel is part of the second phase of development for the existing Andares Shopping Mall, a mixed-use complex that includes a high-end retail component anchored by Palacio de Hierro and Liverpool department stores, two office towers, and luxury condominiums. Hyatt Regency Andares Guadalajara will be an integral part of the overall Andares development, which will also include additional upscale residential units and retail space as part of its second phase.
“The strength and quality of the Hyatt Regency brand in Mexico is growing rapidly and we believe that Hyatt Regency Andares Guadalajara will attract business and leisure travelers from across the country and abroad,” said Alvaro Leaño, President, DMI. “There is no better time than now to invest in Guadalajara, Mexico’s second largest commercial center which has become a business and commerce powerhouse, and we are delighted to be working with Hyatt and contributing to the economic vitality of the area with this new hotel.”
Hyatt Regency Andares Guadalajara will feature two restaurants, a lounge, approximately 29,000 square feet of indoor and outdoor meeting and event space, spa facilities, a fitness center and an indoor swimming pool. When complete, the Hyatt Regency Andares Guadalajara will not only enjoy the benefits of being an integral component the Andares development, but will also be in close proximity to the region’s medical centers and the Centro Cultural Universitario which is home to one of the most important concert venues in Latin America, Auditorio Telmex.