Grand Hyatt Limassol set to open in 2025,
marking a significant milestone for Hyatt’s growth in Europe
Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt
affiliate has entered into a management agreement with Anolia
Holdings Limited for the first Hyatt hotel on the island of Cyprus,
Grand Hyatt Limassol. The 300-room luxury resort is expected to
open in 2025 and signifies Hyatt’s continued growth into Europe’s
leading travel destinations.
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Exterior view of Grand Hyatt Limassol
(Photo: Business Wire)
The new-build beachfront resort will be situated at a Blue Flag
beach east of Limassol, one of the island’s most cosmopolitan
cities. With a prime beachfront location on the southern coast of
the island and 300 bold, light-filled rooms offering sea views,
Grand Hyatt Limassol will be a captivating destination within a
destination featuring a stunning 43,000-square-foot
(4,000-square-meter) beach club including premium spa and fitness
facilities as well as an indoor pool and two outdoor pools. The
resort will additionally offer five elevated food and beverage
concepts as well as 15,000 square feet (1,400 square meters) of
event space. Furthermore, Grand Hyatt Limassol will be a key
element of Zaria Resort, a mixed-use luxury development, comprised
of residential apartments and private villas totaling more than
861,100 square feet (80,000 square meters).
“We’re delighted to work with Anolia Holdings Limited to bring
the Grand Hyatt brand, known for its access to iconic locales, to
the island of Cyprus, one of the most popular tourist destinations
in Europe,” said Takuya Aoyama, vice president development for
Europe and Africa, Hyatt. “Grand Hyatt Limassol represents a key
element of our growth strategy in Europe as we continue to seek
opportunities to extend our resort footprint in the
Mediterranean.”
Only a 30-minute drive from Larnaca International Airport, the
hotel will bring with it the exceptional brand of luxury and
vibrant design that the Grand Hyatt brand delivers to guests
worldwide. Arriving guests will drive past the lush greenery of the
hotel’s 150,000-square-foot (14,000-square-meter) public garden and
promenades and enjoy a spectacular view of the Mediterranean. The
resort promises to be a celebration of all the exquisite details of
Cypriot culture, offering guests a stay beyond the ordinary through
magnificent moments of more and superior service.
“We are thrilled to team-up with Hyatt on this development,”
said Alexander Iakovlev, director of Anolia Holdings. “The Grand
Hyatt brand is synonymous with luxury and creating unique
experiences for guests which remain authentic to the destination
itself. In addition, given Limassol’s status as a financial capital
of Cyprus, the hotel will not only attract leisure guests but may
also prove popular for business travelers, conference-goers and
event attendees. We are eager to see Grand Hyatt Limassol become
the heart of the Zaria Resort development.”
The announcement of Grand Hyatt Limassol follows a significant
expansion in Hyatt’s brand footprint in Europe over the last 12
months. Nine new hotels including Great Scotland Yard, Hyatt
Centric Dublin, Andaz Vienna Am Belvedere, Hyatt Regency Chantilly
and more opened in the region in 2019, with four more additions in
Barcelona, Manchester and Frankfurt this year. These plans for a
hotel in Cyprus represent a key opportunity in Europe as it builds
upon Hyatt’s existing and upcoming portfolio in Malta, Athens
Thessaloniki and Izmir. The island has furthermore proven to
attract travelers from Hyatt’s key strategic markets including the
UK, Russia, Greece, Germany and the Middle East.
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 Grand Hyatt
Around the world, Grand Hyatt hotels bring travel dreams to life
by celebrating the iconic in small details and magnificent moments.
Located at the crossroads of local culture and global business
within major gateway cities and resort destinations, each Grand
Hyatt hotel is uniquely designed to be a captivating destination
within a destination. Grand Hyatt hotels deliver welcoming and
elevated service, first-class accommodations and an abundance of
options within a multicultural backdrop of dramatic architecture
and bold and vibrant design. Grand Hyatt properties boast inventive
restaurants, luxury spas, fitness centers, and business and meeting
facilities. For additional information or to make a reservation,
please visit grandhyatt.com. Follow @GrandHyatt on Facebook and
Instagram, and tag photos with #GrandHyatt.
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 March 31, 2020, the Company's portfolio included more than
900 hotel, all-inclusive, and wellness resort properties in 65
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
employees, 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 Allea Group
Anolia Holdings Ltd is a part of Allea Group, an investment and
real estate development holding company with a diversified
portfolio of exclusive award-winning residential and commercial
projects in Central and Southern Europe. The mission of Allea Group
is to create timeless and sustainable projects by bringing together
the knowledge of industry experts, the cutting-edge ideas of
distinguished architects and innovative solutions of designers, all
whilst incorporating the best practices of leading contractors. For
more information, please visit www.alleagroup.com.
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 actual results to differ
materially from current expectations include, but are not limited
to, the short- and longer-term effects of the COVID-19 pandemic,
including on the demand for travel, transient and group business,
and levels of consumer confidence; actions that governments,
businesses, and individuals take in response to the COVID-19
pandemic or any future resurgence, including limiting or banning
travel; the impact of the COVID-19 pandemic, and actions taken in
response to the COVID-19 pandemic or any future resurgence, on
global and regional economies, travel, and economic activity,
including the duration and magnitude of its impact on unemployment
rates and consumer discretionary spending; the ability of
third-party owners, franchisees or hospitality venture partners to
successfully navigate the impacts of the COVID-19 pandemic; the
pace of recovery following the COVID-19 pandemic or any future
resurgence; general economic uncertainty in key global markets and
a worsening of global economic conditions or low levels of economic
growth; 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; limited visibility with respect to future
bookings; loss of key personnel; domestic and international
political and geo-political conditions, including political or
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such as earthquakes, tsunamis, tornadoes, hurricanes, floods,
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pandemics or contagious diseases or fear of such outbreaks, such as
the COVID-19 pandemic; our ability to successfully achieve certain
levels of operating profits at hotels that have performance tests
or guarantees in favor of our third-party owners; the impact of
hotel renovations and redevelopments; risks associated with our
capital allocation plans and common stock repurchase program and
quarterly dividend, including a reduction in or elimination of
repurchase activity or dividend payments; 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; relationships with colleagues and labor unions and
changes in labor laws; 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; failure
to successfully complete proposed transactions (including the
failure to satisfy closing conditions or obtain required
approvals); 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; declines in the value of our real estate
assets; unforeseen terminations of our management or franchise
agreements; changes in federal, state, local, or foreign tax law;
increases in interest rates and operating costs; foreign exchange
rate fluctuations or currency restructurings; lack of acceptance of
new brands or innovation; general volatility of the capital markets
and our ability to access such markets; 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; outcomes of legal or
administrative proceedings; violations of regulations or laws
related to our franchising business; and other risks discussed in
the Company’s filings with the U.S. Securities and Exchange
Commission (“SEC”), including our annual report on Form 10-K and
our Current Report on Form 8-K filed on April 21, 2020, which
filings are available from the SEC. 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
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in other factors affecting forward-looking statements, except to
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will make additional updates with respect to those or other
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20200713005130/en/
Simone Loretan Hyatt – Europe, Africa and Middle East and
Southwest Asia +41 44 279 1226 simone.loretan@hyatt.com Gloria
Kennett Hyatt 312-780-5506 gloria.kennett@hyatt.com
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