The fastest growing Hyatt lifestyle brand
expands into the Nordics
Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt
affiliate has entered into a franchise agreement with H176
Reykjavík ehf, a fully owned subsidiary of Icelandic real estate
company Reitir fasteignafelag hf, to open the first Hyatt branded
hotel in Iceland. Expected to debut in 2022, the 169-room Hyatt
Centric Reykjavík will bolster Hyatt’s lifestyle portfolio and the
Hyatt Centric brand’s presence in Europe.
Hyatt Centric Reykjavík will offer modern accommodations, three
food and beverage outlets, including a pop-up rooftop bar
overlooking Iceland’s dynamic capital city, and approximately 2,100
square feet (200 square meters) of meeting facilities. With a high
proportion of adventurous travelers exploring the Icelandic
countryside, Hyatt Centric Reykjavík will boast its own car park
for guests to use. Staying true to the Hyatt Centric brand
experience, guests will have access to a passionate hotel team,
ready to provide local expertise and insider knowledge, ensuring
they never miss a moment of adventure.
The hotel will be situated on Laugavegur, the main street of
Reykjavík, located east of the city center in an area seeing rapid
growth. The building will be a redevelopment of what locals know as
the former headquarters of the Icelandic National Broadcasting
Service. A 40-minute drive from Iceland’s main international
airport and a 10-minute walk to the city center, Hyatt Centric
Reykjavík will serve as the perfect launch pad for guests wanting
to explore the breathtaking natural beauty of “The Land of Fire and
Ice.”
“Over the past year we have spent a great deal of time
understanding the Nordic market and getting to know the hotel
developers and owners in Iceland. Hyatt Centric Reykjavík will mark
the first Hyatt hotel in Iceland, an important milestone for us,”
said Peter Norman, senior vice president of development, Hyatt.
“Hyatt Centric Reykjavík not only demonstrates our unprecedented
growth in the upscale lifestyle segment in Europe, but also our
commitment to expand Hyatt's brand footprint in a market currently
dominated by independent, regional players.”
“We are thrilled to be working alongside Hyatt to bring the
first Hyatt hotel to Iceland and the Nordics as a whole. Our
experience in the Icelandic market and Hyatt’s unique, personalized
approach to development is the perfect combination to develop a
distinct offering in the city,” said Guðjón Auðunsson, CEO of
Reitir fasteignafélag hf. “With travelers staying in Iceland for an
average of five to eight nights all year round, Hyatt Centric
Reykjavík will be the ideal base for guests wanting to enjoy a
lifestyle hotel whilst taking in the stunning scenery, whether on a
hike in summer or while viewing the Northern Lights in winter.”
Hyatt Centric Reykjavík will join the growing Hyatt Centric
portfolio in Europe with Hyatt Centric La Rosière, Hyatt Centric
Milan Centrale, Hyatt Centric Murano Venice, Hyatt Centric Gran Via
Madrid, Hyatt Centric Levent Istanbul and the newly opened Hyatt
Centric The Liberties Dublin.
For more information on the Hyatt Centric brand and its range of
properties worldwide, visit hyattcentric.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 Centric
Hyatt Centric is a brand of full-service lifestyle hotels
located in prime destinations. Created to connect guests to the
heart of the action, Hyatt Centric hotels are thoughtfully designed
to enable exploration and discovery so they never miss a moment of
adventure. Each hotel offers social spaces to connect with others
in the lobby, meanwhile the bar and restaurant are local hot spots
where great conversations, locally inspired food and signature
cocktails can be enjoyed. Streamlined modern rooms focus on
delivering everything guests want and nothing they don’t. A
passionately engaged team is there to provide local expertise on
the best food, nightlife and activities the destination has to
offer. For more information please visit hyattcentric.com. Follow
@HyattCentric on Facebook and Instagram, and tag photos with
#HyattCentric.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading
global hospitality company with a portfolio of 20 premier brands.
As of September 30, 2019, the Company's portfolio included more
than 875 properties in over 60 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®, Alila®, Andaz®, The Unbound Collection
by Hyatt®, Destination®, Hyatt
Regency®, Hyatt®, Hyatt Ziva™, Hyatt
Zilara™, Thompson Hotels®, Hyatt
Centric®, Caption by Hyatt, Joie de Vivre®,
Hyatt House®, Hyatt Place®, tommie™, Hyatt
Residence Club® and Exhale® brand names, and operates
the World of Hyatt® loyalty program that provides distinct benefits
and exclusive experiences to its valued members. For more
information, please visit www.hyatt.com.
About Reitir fasteignafelag hf
Reitir is the largest real estate company in Iceland with a
portfolio focused on retail, office and hospitality real estate in
the Reykjavík area. The Company’s portfolio is comprised of 140
properties, with a total size of about 460 thousand square meters
(five million square feet), as well as ambitious development
projects. Reitir attributes its three decades of success to
mutually beneficial long-term relationships with over 400 tenants.
The Company takes great pride in the preservation of its many
historic buildings while striving towards a more sustainable built
environment.
Forward-Looking Statement
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 the 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 seasonal and cyclical nature
of the real estate and hospitality businesses; changes in
distribution arrangements, such as through internet travel
intermediaries; changes in the tastes and preferences of our
customers; 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 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; the timing of acquisitions and
dispositions, and our ability to successfully integrate completed
acquisitions with existing operations; our ability to successfully
execute on our strategy to expand our management and franchising
business while at the same time reducing our real estate asset base
within targeted timeframes and at expected values; changes in the
competitive environment in our industry, including as a result of
industry consolidation, and the markets where we operate; our
ability to successfully grow the World of Hyatt loyalty program;
cyber incidents and information technology failures; 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/20191209005467/en/
MEDIA CONTACTS: Simone Loretan Hyatt – Europe, Africa and
Middle East and Southwest Asia +41 44 279 1226
simone.loretan@hyatt.com
Brittany Umphred Hyatt 908.873.4517
britany.umphred@hyatt.com
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