Hotel will bring the Hyatt Regency brand back
to Kazakhstan
Hyatt Hotels Corporation (NYSE: H) announced today a management
agreement between JSC Kazakh-Austrian Joint Venture (“Rahat JSC”)
and a Hyatt affiliate for the development of Hyatt Regency Almaty,
Rahat Palace. Slated to open in 2019, the 292-room hotel will be
managed as Hyatt Regency Almaty, Rahat Palace. The former Hyatt
Regency Almaty operated in the same building between 1995 and
2011.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20180620005275/en/
Exterior view of Hyatt Regency Almaty,
Rahat Palace (Photo: Business Wire)
“We are delighted to announce the return of the Hyatt Regency
brand to Almaty and bring a globally recognized brand to the city
that will resonate well with the growing base of business
travelers,” said Takuya Aoyama, vice president, development for
Eastern Europe, Russia & CIS at Hyatt. “We look forward to
collaborating with Rahat JSC, and believe the hotel will be an
exciting development as we build on the strength of the Hyatt
Regency brand throughout Central Asia.”
Located on Satpaev Avenue in the center of Kazakhstan’s
commercial and financial capital, the former Hyatt Regency hotel
was a popular hub that brought together guests and locals alike.
Hyatt Regency Almaty, Rahat Palace will continue to foster
connections and will be designed to link business and leisure
travelers to all the city has to offer. The building will undergo
renovations that will offer a one-stop experience, designed with
everything under one roof. Featuring smartly configured guestrooms,
imaginative culinary experiences, and a multi-functional lobby, the
hotel will offer a variety of places to work, connect, eat and
drink. The hotel will also feature the signature Hyatt StayFit gym
and an indoor swimming pool.
The Hyatt Regency brand has a long history of creating
effortless experiences for groups and the hotel will be a
stress-free choice for special occasions and events with its fully
modernized meeting and event facilities including a 2,368 square
foot ballroom.
“The Hyatt Regency brand has a special place in the history of
Rahat Palace, and we look forward to this new relationship with
Hyatt,” said Alexery Kravtsov, acting general director, Rahat JSC.
With the combination of the strong Hyatt Regency brand experience
and the excellent location, we believe Hyatt Regency Almaty, Rahat
Palace will provide a vibrant stay and one-stop convenience to
business and leisure travelers. The hotel will set the stage for
dynamic interactions and it’ll feature multiple community gathering
places – areas to relax, meet, engage, and recharge.”
For more information on the Hyatt Regency brand, please visit
hyattregency.com.
The term “Hyatt” is used in this release for convenience to
refer to Hyatt Hotels Corporation and/or one or more of its
affiliates.
About Hyatt Regency
The Hyatt Regency brand prides itself on connecting travelers to
who and what matters most to them. More than 180 conveniently
located Hyatt Regency urban and resort locations in over 30
countries around the world serve as the go-to gathering space for
every occasion – from efficient business meetings to memorable
family vacations. The brand offers a one-stop experience that puts
everything guests need right at their fingertips. Hyatt Regency
hotels and resorts offer a full range of services and amenities,
including the space to work, engage or relax; notable culinary
experiences; technology-enabled ways to collaborate; and expert
event planners who can take care of every detail. For more
information, please visit hyattregency.com. Follow
@HyattRegency on Facebook, Twitter and Instagram, and tag photos
with #AtHyattRegency.
About Rahat JSC
Rahat JSC is part of Almaly, a holding company which comprises
30 entities in the field of natural gas extraction, petrochemical,
food processing, trading, retail and hospitality, including Rahat
Palace Hotel, Essentai Mall and Almaly Shopping Center. One of
Almaly’s group companies, Food Solutions KZ, develops, owns and
operates McDonald’s restaurants in Kazakhstan. Almaly also sponsors
Kairat Football Club, and supports a NGO dedicated to the
development and education of children and adolescents with
disabilities from age 1 to 16.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a
leading global hospitality company with a portfolio of 14 premier
brands. As of March 31, 2018, the Company's portfolio included more
than 700 properties in more than 50 countries across six
continents. The Company's purpose to care for people so they can be
their best informs its business decisions and growth strategy and
is intended to attract and retain top colleagues, build
relationships with guests and create value for shareholders. The
Company's subsidiaries develop, own, operate, manage, franchise,
license or provide services to hotels, resorts, branded residences,
vacation ownership properties, and fitness and spa locations,
including under the Park Hyatt®, Miraval®, Grand Hyatt®,
Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound
Collection by Hyatt®, Hyatt Place®, Hyatt House®, Hyatt
Ziva™, Hyatt Zilara™, Hyatt Residence
Club® and exhale® brand names. 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 our actual results, performance
or achievements 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; the financial condition of,
and our relationships with, third-party property owners,
franchisees and hospitality venture partners; the possible
inability of third-party owners, franchisees or development
partners to access the capital necessary to fund current operations
or implement our plans for growth; risks associated with
potential acquisitions and dispositions and the introduction of new
brand concepts; failure to successfully complete proposed
transactions (including the failure to satisfy closing conditions
or obtain required approvals); changes in the competitive
environment in our industry, including as a result of industry
consolidation, and the markets where we operate; general volatility
of the capital markets and our ability to access such 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 U.S. Securities and
Exchange Commission. These factors are not necessarily all of
the important factors that could cause our actual results,
performance or achievements to differ materially from those
expressed in or implied by any of our forward-looking statements.
We caution you not to place undue reliance on any forward-looking
statements, which are made only 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 law. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180620005275/en/
Simone LoretanHyatt – Europe, Africa and Middle East and
Southwest Asia+41 44 279 1226simone.loretan@hyatt.comorGloria
KennettHyattGloria.kennett@hyatt.com312-780-5506
Hyatt Hotels (NYSE:H)
Historical Stock Chart
From Mar 2024 to Apr 2024
Hyatt Hotels (NYSE:H)
Historical Stock Chart
From Apr 2023 to Apr 2024