The iconic Andalusian resort will join The
Unbound Collection by Hyatt brand and mark the first Hyatt-branded
hotel in Southern Spain following extensive renovations
Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt
affiliate has entered into a franchise agreement with a wholly
owned subsidiary of Intriva Capital European Principal Investment
Fund I LP (“Intriva”), a European private equity fund, to see the
former iconic Byblos Hotel in Mijas redeveloped into a luxury
200-bedroom resort. The property, which has been closed since 2010,
will be managed by Marugal Hotel Management and will mark the first
Hyatt-branded hotel in Southern Spain.
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Expected to open in early 2022, guests and World of Hyatt
members will be able to enjoy the latest addition to The Unbound
Collection by Hyatt portfolio, which will be located in one of
Spain’s most visited regions, Andalusia.
“We are delighted to collaborate with Intriva to redevelop and
rediscover the splendor of this famous building and welcome it into
The Unbound Collection by Hyatt portfolio,” said Nuno Galvao Pinto,
regional vice president of development Europe, Hyatt. “The
illustrious past and distinctive architecture of the hotel make it
a perfect fit for the brand and we expect it to be a truly
exceptional addition this collection of storied hotels. We look
forward to further growing this exciting independent brand across
Europe, inviting guests to create story-worthy experiences at
unforgettable properties.”
Since its original opening in 1986, the hotel has been known as
a hideaway for jet setters and royalty alike. The iconic blue and
white building will be restored as a luxury resort reflecting
memories from a golden age of travel, attracting independent-minded
guests seeking a sophisticated yet unscripted experience. Behind
its new Andalusian latticework, the Byblos Hotel will offer moments
that inspire visitors to create their own stories and enjoy
Southern Spain’s distinctive lifestyle with its lush gardens,
pools, bright spaces, and unique interiors. The hotel will offer an
abundance of luxury amenities including a health club and spa,
indoor and outdoor pools, a cinema, and a night club, family
facilities including a kid’s club, and exceptional conference
spaces for private events and business meetings.
The food and beverage venues at the hotel will incorporate and
reflect Andalusian culture with a rooftop bar offering guests
stunning views of the Sierra de Mijas mountain range. It will be
located adjacent to two 18-hole golf courses, originally designed
by Robert Trent Jones, making the resort an excellent base for
guests looking for a golfing retreat.
“We are thrilled to team-up with Hyatt on this exciting project,
restoring the iconic hotel to its former grandeur on the Andalusian
coast,” said Tom Saunders, head of post-acquisition, Intriva. “We
look forward to working with the local community to bring a new
luxury resort to the area, underlining our commitment to the
European leisure and hospitality sector at this challenging time.
The hotel has a rich and exciting past that we intend to bring it
to life once again supported by Hyatt.”
The announcement signifies a major addition to The Unbound
Collection by Hyatt brand in Europe and marks the first
Hyatt-branded hotel in Southern Spain. As the third most visited
region in Spain in 20191, Andalusia represents a key opportunity to
expand the Hyatt brand’s footprint in Southern Europe and to tap
into the growing popularity of the region with tourists.
The resort will join other Hyatt-branded hotels in Spain,
including Hyatt Centric Grand Vía Madrid, Hyatt Regency Hesperia
Madrid, Hyatt Regency Barcelona Tower, and Hotel SOFIA Barcelona,
which is part of The Unbound Collection by Hyatt brand.
The Unbound Collection by Hyatt gives guests the freedom to
create their own story-worthy experiences at unique properties
around the world, whether it’s a historic gem tucked in the heart
of Paris, like Hôtel du Louvre, or a spectacular architectural
monument such as Parisi Udvar Hotel Budapest. Additional properties
within The Unbound Collection by Hyatt in Europe include:
- France: Hôtel Martinez in Cannes and Hôtel du Palais
Biarritz
- Turkey: Nish Palas in Istanbul
- United Kingdom: Great Scotland Yard Hotel in London
For more information about hotels within The Unbound Collection
by Hyatt brand, visit hyatt.com/brands/unbound-collection.
Guided by its purpose of care, Hyatt’s multi-layered Global Care
& Cleanliness Commitment further enhances its operational
guidance and resources around colleague and guest safety and peace
of mind. More information on Hyatt’s commitment can be found here:
hyatt.com/care-and-cleanliness.
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 The Unbound Collection by Hyatt
More than a compilation of independent, one-of-a-kind hotels,
The Unbound Collection by Hyatt brand is a thoughtful curation of
stories worth collecting. Whether it’s a modern marvel, a historic
gem or a revitalizing retreat, each property provides
thought-provoking environments and experiences that inspire for
guests seeking elevated yet unscripted service when they travel.
For a full list of hotels in the collection, visit
unboundcollection.hyatt.com. Follow @UnboundxHyatt on Facebook and
Instagram and tag your photos with #TellYourTale.
About Intriva Capital European Principal Investment Fund I
LP
Intriva invests in special situations across Western Europe
which arise from dislocated markets, structural change and
unsustainable capital structures. Intriva places great emphasis on
downside protection through attractive entry valuations, bespoke
deal structuring and careful alignment of interests with key
stakeholders. Intriva seeks top-down investment themes in
dislocated sectors as well as bottom-up situational opportunities
where it identifies the potential to take advantage of
idiosyncratic or secular issues to structure a diversified
portfolio of investments with an attractive risk-adjusted return
profile.
About Marugal Hotel Management
Marugal was created in 2004 by Pablo Carrington and specializes
in the development, launch and management of individual,
independent hotels. The nine properties in the company’s portfolio
retain their architectural integrity and a strong sense of place,
combined with the highest service ethics and individual
personality. Marugal is not a hotel chain; each member of the
portfolio is a hotel with its own history and character, whether
it’s a 19th century villa, an iconic 1960s hotel re-imagined or a
former fortress.
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.
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 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
civil unrest or changes in trade policy; hostilities, or fear of
hostilities, including future terrorist attacks, that affect
travel; travel-related accidents; natural or man-made disasters
such as earthquakes, tsunamis, tornadoes, hurricanes, floods,
wildfires, oil spills, nuclear incidents, and global outbreaks of
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
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.
1 Instituto Nacional de Estadistica
https://www.ine.es/en/daco/daco42/frontur/frontur1019_en.pdf
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Siân Rylander Hyatt +1 312 780 5797 sian.rylander@hyatt.com
Simone Loretan Hyatt – Europe, Africa and Middle East and
Southwest Asia +41 44 279 1226 simone.loretan@hyatt.com
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