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TheStreet Open House

Hyatt Announces Plans For Second Hyatt Place Hotel In Armenia

Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a contract with Jersan LLC to develop a Hyatt Place hotel in Jermuk, Armenia. Expected to open in 2015, Hyatt Place Jermuk will mark the second Hyatt-branded hotel in Armenia, joining the recently opened Hyatt Place Yerevan.

“We are delighted to announce the development of a second Hyatt Place hotel in Armenia and further expand Hyatt’s brand presence across the region,” said Peter Norman, senior vice president, acquisitions and development for Hyatt – Europe, Africa, and Middle East. “We look forward to welcoming guests to Hyatt Place Jermuk, where they will experience the authentic hospitality and purposeful service for which the Hyatt Place brand is known.”

“We are honored to work with Hyatt as the company continues to expand its brand presence in Armenia,” said Samvel Sargsyan, director, Jersan LLC. “We have worked with Hyatt on several previous developments and feel privileged to work alongside the company once again. Given Hyatt’s strong brand name and the new hotel’s convenient location, we believe that Hyatt Place Jermuk will attract both business and leisure travelers from across the region.”

The 88-room, new-build hotel will be situated in the center of Jermuk Resort, a resort currently being redeveloped by the Armenian government that is known for its hot springs and providing bottled water in the area. Hyatt Place Jermuk will offer more than 1,800 square feet (170 square meters) of meeting space, an open market with made-to-order meals and snacks around the clock, a restaurant offering breakfast, lunch and dinner, a fitness center, and an indoor and outdoor swimming pool.

Guests staying at Hyatt Place Jermuk will be able to discover the discreet charm of Jermuk, a mountain resort town known for its thermal water spas. The hotel will also be an ideal base for guests to explore the natural beauty and cultural heritage sites of Armenia, including the mountains of Vayots Dzor and the 1,000-year old Gndevank Monastery. Less than three hours away from the Armenian capital Yerevan, Jermuk regularly hosts international chess events, including the World Chess Federation Grand Prix tournaments.

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