The 94-room property is expected to open its
doors in 2024 and will mark the first Hyatt-branded hotel in
Pakistan
Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt
affiliate has entered into a franchise agreement with FP Global
(Private) Limited for Hyatt Regency Lahore DHA, which will mark the
first Hyatt-branded hotel in Pakistan and a significant step
forward in Hyatt’s plans to expand its brand portfolio in Southwest
Asia. Situated within Defence Housing Authority Phase 6 (DHA-6),
the property will be operated by Valor Hospitality Partners and is
expected to open its doors in 2024.
“We look forward to collaborating with the FP Global (Private)
Limited team and Valor Hospitality Partners to unveil the first
Hyatt-branded hotel in Pakistan with Hyatt Regency Lahore DHA,”
said Sunjae Sharma, Managing Director, Southwest Asia, Hyatt India
Consultancy Pvt Ltd. “We are confident that this hotel’s location,
style and service will be attractive for both business and leisure
travelers alike, and we look forward to the introduction of the
Hyatt brand to guests visiting the region.”
Currently under renovation, the 94-guestroom property will
feature a range of exquisite dining options with six food and
beverage outlets including all-day dining venues, two specialty
restaurants, a lobby lounge, the Regency Club, and The Market, the
cafe-style option where guests can grab a snack anytime. Thoughtful
amenities like separate male and female fitness centers and
swimming pools will help guests rejuvenate and stay on track with
their health schedules; while approximately 8,600 square feet (800
square meters) of flexible events and meeting space, including a
ballroom, will make the hotel the go-to venue for any occasion.
“We are delighted to announce our first property in Lahore,
Pakistan with Hyatt Regency Lahore DHA, and thrilled to collaborate
on this project with Hyatt," said Julien Bergue, Co-Founder and
Managing Partner, Valor Hospitality Partners Middle East & CIS.
“Following our recent rapid expansion in the Middle East, this
destination is a natural extension geographically, and with FP
Global (Private) Limited as our reliable partners and our
continuously growing collaboration with Hyatt, we are confident the
hotel will offer outstanding experiences in a premium location,
positioning it as a prominent addition to the hospitality sector of
Lahore.”
“We are honored to work alongside Hyatt to introduce the first
Hyatt-branded hotel to Pakistan under the Hyatt Regency brand, and
are confident that combining our premium hospitality expertise with
Hyatt's international operating standards will enable us to deliver
a truly spectacular experience to the numerous guests visiting
Pakistan, as well as the local community in the city of Lahore,”
said Immad Ali Khan, CEO, FP Global (Private) Limited.
The hotel will be in close proximity to Allama Iqbal
International Airport, making it an ideal destination for travelers
looking for convenience. Not only will the hotel’s location be
prime for exploring the city’s renowned food scene, but it will
also provide an ideal base for travelers to take in the major
attractions of one of Pakistan’s most vibrant and culturally rich
cities, including the Badshahi Mosque, Shalimar Gardens and Lahore
Fort.
Additionally, Lahore’s proximity to the capital city of
Islamabad, along with convenient connectivity provided by Lahore
Junction railway station, which is situated within a 30 minute
drive from the hotel, will provide the perfect opportunity for
guests to explore the different cultures and attractions that the
region has to offer.
The term “Hyatt” is used for convenience in this release to
refer to Hyatt Hotels Corporation and/or one or more of its
affiliates.
About Hyatt Regency
The Hyatt Regency brand prides itself on making travel free from
stress and filled with success. More than 220 conveniently located
Hyatt Regency urban and resort locations in more than 45 countries
around the world serve as the go-to gathering space for every
occasion – from efficient personalized, high-touch business
meetings to energizing family vacations. The brand offers
stress-free environments for seamless gatherings and empathetic
service that anticipates guests’ needs. Designed for productivity
and peace of mind, 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 meeting and 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 #HyattRegency.
About Hyatt Hotels
Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading
global hospitality company guided by its purpose – to care for
people so they can be their best. As of September 30, 2022, the
Company’s portfolio included more than 1,200 hotels and
all-inclusive properties in 72 countries across six continents. The
Company's offering includes brands in the Timeless Collection,
including Park Hyatt®, Grand Hyatt®, Hyatt
Regency®, Hyatt®, Hyatt Residence Club®, Hyatt
Place®, Hyatt House®, and UrCove; the Boundless
Collection, including Miraval®, Alila®,
Andaz®, Thompson Hotels®, Hyatt Centric®, and
Caption by Hyatt; the Independent Collection, including
The Unbound Collection by Hyatt®, Destination by
Hyatt™, and JdV by Hyatt™; and the Inclusive Collection,
including Hyatt Ziva®, Hyatt Zilara®, Zoëtry®
Wellness & Spa Resorts, Secrets® Resorts & Spas,
Breathless Resorts & Spas®, Dreams® Resorts &
Spas, Hyatt Vivid®, Alua Hotels & Resorts®,
and Sunscape® Resorts & Spas. Subsidiaries of the
Company operate the World of Hyatt® loyalty program, ALG
Vacations®, Unlimited Vacation Club®, Amstar DMC destination
management services, and Trisept Solutions® technology services.
For more information, please visit www.hyatt.com.
About Valor Hospitality
Partners
Valor Hospitality Partners is a leading global full-service
hotel management company, headquartered in Atlanta, GA, USA. With
over 85 hotels in its portfolio across The Americas, UK, Africa and
Middle East, Valor is now rapidly expanding further within the
Middle East, CIS, and Indian Ocean regions. Working closely with
owners and international hotel franchise partners, Valor creates
value through shared operating platforms within key markets,
cutting edge value creation and support with additional services
such as, site selection, brand selection, financing solutions,
conceptual design, project management, procurement, technical
services, and asset management. For more information, visit
valorhospitality.com or connect with Valor on Facebook and
LinkedIn.
About FP Global (Private)
Limited
FP Global (Private) Limited is a Pakistani-based company owned
by entrepreneurs Pervaiz Iqbal Shahid, Muhammad Ather, Mirza
Aurangzeb Baig and Immad Ali Khan, whose expertise and business
ventures include development, project management consultancy and
asset management.
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, risks associated with the acquisition of Apple Leisure Group,
including successful integration of the Apple Leisure Group
business; the duration and severity of the COVID-19 pandemic or any
additional resurgence and the pace of recovery following the
pandemic or any additional resurgence; the short and long-term
effects of the COVID-19 pandemic, including on the demand for
travel, transient and group business, and levels of consumer
confidence; the impact of actions taken by governments, businesses,
or individuals in response to the COVID-19 pandemic or any
additional resurgence on global and regional economies, travel
limitations or bans, and economic activity; the ability of
third-party owners, franchisees, or hospitality venture partners to
successfully navigate the impacts of the COVID-19 pandemic or any
additional 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; global supply chain constraints and
interruptions, rising costs of construction-related labor and
materials, and increases in costs due to inflation or other factors
that may not be fully offset by increases in revenues in our
business; risks affecting the luxury, resort, and all-inclusive
lodging segments; levels of spending in business, leisure, and
group 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; 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, share repurchase program, and dividend payments,
including a reduction in, or elimination or suspension 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, wages, and other 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 the COVID-19 pandemic, industry consolidation, and the
markets where we operate; our ability to successfully grow the
World of Hyatt loyalty program and Unlimited Vacation Club paid
membership 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 Quarterly Reports on Form 10-Q,
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230127005007/en/
Rajyasree Sen Hyatt Rajyasree.sen@hyatt.com
Soujanya Das Current Global Sdas3@CurrentGlobal.com
Glennie Janssen Hyatt
Glennie.janssen@hyatt.com
Hyatt Hotels (NYSE:H)
Historical Stock Chart
From May 2023 to Jun 2023
Hyatt Hotels (NYSE:H)
Historical Stock Chart
From Jun 2022 to Jun 2023
