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Quirk Hotel Charlottesville Opens Today as Part of Destination Hotels

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Business News first on FIR:

CHICAGO–()–Hyatt Hotels Corporation announced today the opening of Quirk Hotel Charlottesville in Charlottesville, Virginia as the first boutique hotel with a focus on curated art to be imagined in the city’s historic downtown. Charming and distinctive by nature, Quirk Hotel Charlottesville delivers a warm sense of approachability and playfulness that appeals to curious travelers of all ages seeking a sense of belonging, and is the second rendition of the Quirk Hotel concept within the Destination Hotels collection, with its original location in Richmond, Va.

“After opening Quirk Hotel Richmond in September 2015, we are excited to bring to life our gallery concept and beautiful hotel amenities into a new, charming Virginia city,” said Kate Ukrop, co-owner of Quirk Hotel Charlottesville alongside her husband, Ted. “Alongside the Quirk Gallery in Richmond, I am looking forward to also being the director of Quirk Gallery in Charlottesville, continuing to make art more accessible for guests across the Destination Hotels brand.”

A true to place destination where independent travelers can make their experience their own, the hotel features a new signature dining concept, a laid-back rooftop bar, an indoor lobby lounge, two spacious ballrooms, an in-house art gallery and two historic homes surrounding the property with added amenities.

Art + Gallery

Creating a novel space where guests can genuinely embrace new people, places and culture, Quirk Hotel Charlottesville features original works of contemporary art by renowned artists. Adding unexpected surprises to every nook and cranny, the artwork is speckled throughout the entire property, some of which can be purchased at Quirk Gallery. The locally curated, bi-level gallery, features local, regional and national artists, and serves as a gathering place for artist talks, classes and openings, as well as private events. Above the gallery, the retail shop provides a curated selection of artisan gifts and hosts seasonal trunk shows and art workshops.

Design + History

The concept for Quirk Hotel Charlottesville stemmed from the desire to use art and history as central design elements to spark curiosity and conversation. This vision was realized by building a main hotel around two street-facing homes that date back to the 19th century. Incorporating the historic red and beige brick homes at 501 West Main St. and 503 Main St., respectively, Quirk Hotel Charlottesville embodies the Quirk Hotel reputation for “uncommon accommodations.”

Designed by national architecture and interior design studio ARCHITECTUREFIRM, the 80-room hotel showcases a minimalist, contemporary design, elevated by gold accents. Each guestroom has a signature look including original artwork throughout, floor-to-ceiling windows with stunning views of the Blue Ridge Mountains and downtown Charlottesville, mini bars with locally sourced goods, and custom headboards designed especially for Quirk Hotel Charlottesville.

In juxtaposition to the contemporary art and design inside the main property building, the two 19th century historic farm homes resemble art relics of Charlottesville’s years past. Plans for the Vernacular style Red Brick House include a quaint café and an expansive barrel aged spirits bar, set to open in late April. The Federal style Beige Brick House is home to Laurie Nicole’s upscale beauty salon on the main floor, while the upstairs will be repurposed into a private room and loft suite.

Restaurants + Bars

The Pink Grouse is Quirk Hotel Charlottesville’s all-day, 65-seat signature restaurant, featuring the hyper-seasonal cuisine of celebrated Chef David Dunlap. Warm and inviting, with an exposition kitchen, the restaurant provides a private dining room surrounded by a stocked wine wall and an open-air courtyard for warmer months. Dinner service emphasizes roasted and braised family-style dishes, alongside local produce, small plates and house-made pastas.

The Lobby Bar is the grand centerpiece as guests enter into the hotel, offering a playful cocktail menu with unique takes on classic beverages, as well as creative mocktails using house-made shrubs and elixirs. The wine list features local bottles from Charlottesville’s grape growing neighbors, encouraging exploration of the nearby wine country. The impressively long bar also delivers the Love & Happiness hour in the city, bringing locals and guests together for impromptu mingling over daily specials of light bites, classic cocktails, and local beers and wines.

Quirk Rooftop, set to open April 20, will bring a laid-back, all-day space to the neighborhood, offering one-of-a-kind views, rustic Italian cooking with a menu of thin crust pizzas, oven-fired vegetables, baked pastas, charcuterie and domestic cheeses and a curated cocktail program with locally sourced craft beer, and a selection of wine from around the world. Throughout the year, the rooftop’s outdoor firepits will serve as the backdrop to seasonal programming such as al fresco movies, rooftop igloos and a “DIY” Aperol Spritz bar.

Quirk Café will be located on the ground floor of the Red Brick House and is set to open in XX. With coffee as the focal point, the café will serve a variety of options including unique lattes, cold brew on tap, alongside tea, smoothies and house-made pastries. Quirk Café will also be home to a selection of local goods to take home, from Quirk house blend coffee to Virginia peanuts, and a rotating selection of pickled goods and homemade sauces.

Bobboo, the intimate cigar bar will feature an expansive selection of barrel aged spirits from around the world, including private reserve and locally distilled whiskies, alongside a variety of cigars that can be enjoyed on the porch.

Meetings + Events

Quirk Hotel Charlottesville offers 11,000 square feet of indoor and outdoor event space, with an eclectic mix of venues, high-tech wireless service and state-of-the-art conference equipment. Quirk Hotel Charlottesville has something for all types of meetings, celebrations and group events, from the private dining room at The Pink Grouse to the rare art gallery space. During warmer months, groups can choose from the Rooftop, an al fresco film screening pavilion and the bi-level, plant-adorned side yard space. Perfect for group accommodations or an intimate private party, a private room and loft suite will be available in the Beige Brick House.

Spa + Salon

Those looking to be pampered on property can freshen up at Laurie Nicole’s upscale beauty salon, located on the main floor of the Beige Brick House, or head two doors down to Neroli Spa. Quirk Hotel Charlottesville has partnered with this luxury, full-service spa to offer guests massages, manicures and pedicures, and medical spa treatments.

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 December 31, 2019, 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 Destination Hotels

Destination Hotels is a collection of independent hotels, resorts and residences across North America that is part of Hyatt’s portfolio of brands. Ranging from upscale to luxury, each property is purposefully crafted for discovery – of place, of people and of self, capturing the unique essence of its location through authentic experiences, immersive programming and genuine service. The award-winning collection features renowned golf courses, indigenous spas, and exceptional food and beverage experiences including bars, restaurants, cafes, and rooftops. Current properties are located in Arizona, California, Colorado, Hawaii (Island of Hawaii, Kauai, Maui), Missouri, North Carolina, Oregon, South Carolina, Vermont, Virginia and Washington. For more information, visit destinationhotels.com. Follow Destination Hotels on Instagram: @destinationhotels, Twitter: @Destination, and Facebook: Destination Hotels.

About Quirk Hotel Charlottesville

Developed by Ted Ukrop along with Christian Kiniry and Ed Brown of Bank Street Advisors, Quirk Hotel Charlottesville is the first boutique art hotel to open in Charlottesville, Virginia’s historic downtown. Intertwining chic with vintage, the 80-room hotel uses art and history as central design elements to spark curiosity and draw guests into the present moment. The main hotel is adjacent to two historic homes dating back to the 19thcentury – a juxtaposition to the minimalist, contemporary design and art found inside Quirk Hotel. The main hotel features a new signature dining concept; a laid-back rooftop bar; an indoor Lobby lounge; an outdoor side yard; two spacious ballrooms; and an in-house art gallery. The surrounding historic homes are more than just art relics of Charlottesville’s years past. The street-facing farm homes offer guests added amenities including a dedicated barrel aged spirits bar; an intimate café; a private room and loft suite; and an onsite beauty salon. Quirk Hotel Charlottesville is the second hotel to open under the Quirk Hotel brand. The first opened in Richmond in September 2015. For more information, visit https://www.destinationhotels.com/hotels-and-resorts/quirk-hotel-charlottesville.

The Unbound Collection by Hyatt Brand Grows With Intent Across the Americas With Addition of Historic Gems and Resort Properties

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CHICAGO–()–Hyatt Hotels Corporation (NYSE: H) announced today thoughtful Americas growth for The Unbound Collection by Hyatt brand, including new openings, brand transitions, and development plans within rich locales with distinct narratives. From an old Jesuit monastery and restored historic athletic clubs, to a charming seaside retreat and sprawling 500-acre ranch and more, the expansion of The Unbound Collection by Hyatt brand delivers on Hyatt’s overall commitment to grow in destinations where guests want more Hyatt experiences – and to offer story-worthy experiences in markets that matter most to guests and World of Hyatt members.

Currently, The Unbound Collection by Hyatt brand includes more than 20 unique hotels – located in key destinations around the world – each with their own distinct story. Ranging from historic landmarks to tropical resorts and new builds, properties within The Unbound Collection by Hyatt brand are designed to captivate travelers looking for premium and luxury experiences while backed by the elevated service Hyatt is known for and connected by the World of Hyatt loyalty program.

“Because Hyatt’s efforts are grounded in listening and fueled by care, The Unbound Collection by Hyatt brand has a unique position within the Hyatt portfolio, as each property has the opportunity to tell its own story,” said Heather Geisler, senior vice president of global brands, Hyatt. “As we continue to see the brand thoughtfully grow across the globe, we are excited to watch each story unfold, further driving brand loyalty to travelers looking for experiences unlike any other.”

The latest development agreements within The Unbound Collection by Hyatt brand include plans for Hotel La Compañia in Panama City, Panama, which will be nestled within the heart of Casco Viejo (Spanish for “Old Quarter”), a UNESCO World Heritage site. Expected to open in 2021, the 88-room hotel is set to become the first property in Panama that is part of The Unbound Collection by Hyatt brand.

The historic Chicago Athletic Association landmark property located in the heart of Chicago’s business and cultural district joined The Unbound Collection by Hyatt brand in November 2019. The unique property was restored from a renowned 19th century athletic club to a hotel in 2015, with the purpose of returning the building to Chicagoans following 125 years of members-only access. Today, the 241-room “urban playground” offers seven award-winning food & beverage outlets – including the Prohibition-era microbar Milk Room, lively Game Room, the swanky, James Beard Award-winning Cherry Circle Room, and the hotel’s crown jewel, Cindy’s, its rooftop restaurant and bar perched 13 stories above Millennium Park. In addition, locals and guests alike are invited to experience the Chicago Athletic Association hotel’s 150+ annual programming events, ranging from pop-up roller skating nights in the hotel’s vintage gym to hands-on cocktail workshops with in-house experts. For more information, visit www.chicagoathletichotel.com.

The storied Carmel Valley Ranch, a 500-acre all-suite resort tucked in the foothills of the Santa Lucia Mountains on the Monterey Peninsula, joined The Unbound Collection by Hyatt brand in January 2020. Unveiled as part of the resort’s 2019 reimagination, Carmel Valley Ranch offers a variety of interactive adventures including artisanal cheesemaking workshops at The Creamery, wine and cheese tastings at The Market, falconry, hatchet throwing and more. The resort also offers revitalizing treatments at the treetop Spa Aiyana, hyper-seasonal and local cuisine at signature restaurant Valley Kitchen and guided walks through its vineyard and gardens. As a purveyor of culinary experiences, the property now offers Saturday Supper Club, the newest wintertime festivity at The Ranch featuring family-style dinners, games and live entertainment at the Golf Clubhouse every Saturday through April 25, 2020. For more information, visit www.carmelvalleyranch.com

Mar Monte Hotel, located just minutes from downtown Santa Barbara, nestled between the rugged Santa Ynez range and pristine Santa Barbara beach, is set to join the collection in Spring 2020, rebranding from Hyatt Centric Santa Barbara after an extensive renovation. The 200-room hotel has been reimagined to establish a style of contemporary Santa Barbara with classic Spanish-influenced design. The property will deliver coastal Italian-inspired cuisine paired with spirited cocktails at the beachside Costa restaurant, all-day dining at the poolside Café Lido, and dynamic social spaces including “The Yard,” along with “The Living Room and Oceanfront Terrace,” which will be adjacent to the lobby and offer wine tastings and welcoming spaces for guest gatherings. Further, Mar Monte Hotel will host Golden Hour Happy Hour as a nightly sunset ritual with locally sourced signature cocktails and bites. For more information, visit www.marmontehotel.com.

Two additional properties within The Unbound Collection by Hyatt brand that are set to open in the U.S. in 2020 and 2021, respectively, include the 144-room restored landmark property, Hotel Kansas City, in Kansas City, Mo. and a 64-room boutique hotel in Hollywood, Calif. Both properties are currently being restored to their original beginnings, with a focus on providing extraordinary architectural details for guests looking to feel inspired.

Globally, The Unbound Collection by Hyatt brand expanded its footprint in 2019, with the reintroduction of Hotel du Louvre, after completing a property-wide renovation in June 2019. Inspired by the original Napolean III style, the famed hotel sits in the heart of the Paris’s Palais-Royal district, surrounded by the Musée du Louvre, the Comédie-Française, the Palais Garnier and Palais Royal. In December 2019, the brand also debuted in the U.K. with the opening of Great Scotland Yard, a luxury hotel with rich history residing on the site of the former headquarters of the Metropolitan Police. Expected to reopen in summer 2020 is the historic gem Hotel du Palais Biarritz, a palace built by Napoleon III for his wife Eugenia de Montijo.

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

The Unbound Collection by Hyatt brand is a portfolio of independent, premium hotel properties, ranging from historic urban gems to contemporary trend-setters and boutique properties to resorts. Whether it is a fascinating past, an exclusive location, famous architecture and design, or an award-winning dining experience, each of the brand’s 21 hotels has its own distinct narrative and creates novel, story-worthy experiences for guests. In markets from Barcelona to Budapest, guests can be inspired by hidden gems around the world. 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 Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 20 premier brands. As of December 31, 2019, 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 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.

Hyatt Updates 2020 Outlook Due to Evolving COVID-19 Impact

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Business News first on FIR:

CHICAGO–()–Hyatt Hotels Corporation (NYSE: H) today announced it is withdrawing its previously announced 2020 outlook and earnings sensitivity based on Greater China RevPAR due to the impact on travel demand outside of Greater China, in part as a result of new corporate travel restrictions in North America and Europe, as well as near-term cancellations outside of Greater China, as a result of the COVID-19 outbreak.

Mark S. Hoplamazian, president and chief executive officer, said, “We are very proud of what our colleagues in the Hyatt family are doing to provide care for our guests, customers, hotel owners, and the communities in which our hotels operate, as the impact of COVID-19 continues to be felt in an increasing number of communities around the world. It is in these types of circumstances that our purpose – to care for people so they can be their best – has the greatest impact.”

“This is an evolving situation, and our ability to assess the financial impact of COVID-19 on our business continues to be limited due to quickly changing circumstances and uncertain consumer demand for travel. The 2020 outlook we provided with our fourth quarter earnings announcement was clearly stated as our base case excluding the impact of COVID-19. Since then, we have continued to monitor the situation and, while we remain unable at this time to quantify the full-year impact on our financial results, we believe it is appropriate to withdraw our previously announced 2020 outlook and earnings sensitivity based on Greater China RevPAR. Over the past week, we have seen the outbreak spread beyond Greater China as well as temporary travel restrictions imposed by many companies, resulting in a decrease in near-term transient bookings and an increase in near-term group cancellations in North America and Europe that will impact our full-year outlook and earnings sensitivity. We continue to closely monitor the situation, and plan to provide more information during our first quarter earnings call based on the information we have available at that time.”

“We are confident in the resilience and capabilities of our teams to manage through the challenges our industry faces. We continue to care for our colleagues, guests, customers, hotel owners, and the communities in which our hotels operate that have been affected by this public health issue. Our thoughts remain with the individuals and communities affected across the world as the public health response to COVID-19 continues.”

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 December 31, 2019, 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 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.

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. These statements include statements about our 2020 outlook, plans, strategies, business conditions, business trends and expectations, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, 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 effects of the Covid-19 outbreak, including on the demand for travel, transient and group business, and levels of consumer confidence in the safety of travel as a result of the outbreak; the length of the Covid-19 outbreak and severity of such outbreak across the globe; the pace of recovery following the Covid-19 outbreak; 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 recent Covid-19 outbreak; 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 other forms of shareholder capital return, including the risk that our common stock repurchase program could increase volatility and fail to enhance shareholder value; our intention to pay a quarterly cash dividend and the amounts thereof, if any; 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 SEC, including our annual report on Form 10-K, which filings are available from the SEC. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. 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 do not undertake or assume any 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.

Hyatt Announces Plans for a Grand Hyatt Branded Hotel in Makkah

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CHICAGO–()–Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Umm Alqura for development and construction of a Grand Hyatt branded hotel in the Holy City of Makkah in the Kingdom of Saudi Arabia. Located in close proximity to the Grand Mosque, the hotel will be an integral component of the King Abdul Aziz Road (KAAR) mixed-use urban development project, designed to support one of the fastest-growing religious tourism markets in the world.

“The Kingdom of Saudi Arabia is one of Hyatt’s prime focus areas within the Middle East,” said Ludwig Bouldoukian, regional vice president of development, Middle East and North Africa for Hyatt. “The country’s significant strides to boost tourism complements our own commitment to creating a pipeline in markets that matter most to guests and World of Hyatt members. Consequently, the opening of Grand Hyatt Makkah will strengthen the Kingdom’s vision to attract more tourists and offer guests an elevated, luxury experience with plans to open further properties in the Holy City in the near future.”

Slated to open in January 2025, Grand Hyatt Makkah will be the first Grand Hyatt hotel in Makkah and the second Grand Hyatt hotel in the Kingdom of Saudi Arabia, joining Grand Hyatt Al Khobar which is slated to open in 2020. The hotel is uniquely designed to celebrate iconic cultural facets and evoke a welcoming service to create exceptional moments for its guests. Grand Hyatt Makkah will feature interiors that integrate materials and artwork representing Islamic tradition, whilst maintaining the detailed design and luxurious services synonymous with the Grand Hyatt brand.

“Grand Hyatt Makkah represents a prestigious addition to the King Abdul Aziz Road project, which will contribute to our goal of better serving the needs of visitors and residents in Makkah,” said Yasser Abuateek, CEO of Umm Alqura for Development and Construction. “One of our key ambitions is also to add value to the local real estate market, and by introducing globally renowned brands we are making significant strides towards achieving this objective. We look forward to further exciting announcements as our project continues to move forward with enhancing Makkah’s transport and tourism infrastructure in support of Vision 2030, the Kingdom’s inspiring roadmap for the future.”

“We are delighted to work with Umm Alqura to open the first Grand Hyatt hotel in the Holy City of Makkah,” said Peter Fulton, group president – Europe, Africa, Middle East and Southwest Asia, Hyatt. “The Kingdom’s plan is to attract more than 30 million tourists by 2030 and we are proud to be able to contribute to this vision. Grand Hyatt Makkah is set to become a captivating destination of its own, welcoming both visitors and pilgrims to this important cultural and religious destination.”

For more information on the Grand Hyatt brand and its range of properties worldwide, visit grandhyatt.com and connect with the Grand Hyatt brand on Facebook and Instagram.

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 Umm Alqura for Development and Construction (UAQ)

Umm Alqura was established as a closed joint-stock company through an important national partnership between the private and public sectors to effectively participate in achieving national objectives to increase the number of Makkah visitors and pilgrims in line with the Kingdom’s Vision 2030.

The King Abdulaziz Road Project in Makkah will become the main artery for a group of development projects, particularly in the area surrounding the Haram Al Sharif. The project is one of the most important developmental and urban projects as it is based on an integrated infrastructure that will transform transportation and development in Makkah and fulfill the aspirations of the Kingdom’s leadership to upgrade Makkah on an urban, environmental and social scale, and make it a leading global destination by providing easy and diverse options for transport, shopping and accommodation.

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 December 31, 2019, 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 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.

Hyatt Announces Plans for Hyatt Centric Cambridge

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CHICAGO–()–Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a franchise agreement with edyn, a UK-based hospitality group, for the first Hyatt Centric hotel in the UK. The 150-room hotel is expected to open in 2021 and will mark the seventh Hyatt Centric property in Europe.

“We are thrilled to announce plans to bring the Hyatt Centric brand to the UK – where we’re focused on growing Hyatt’s brand presence – and the first Hyatt hotel to Cambridge, England,” said Guido Fredrich, Hyatt’s regional vice president of development for Europe. “We are looking forward to working with edyn to debut Hyatt’s fastest growing lifestyle brand in one of the country’s top-performing hotel markets and connecting our guests to the heart of the action when in Cambridge.”

Remaining true to the Hyatt Centric brand and reflecting edyn’s philosophy that travel should be a rich journey of discovery, guests and visitors will feel inspired to explore the destination but also connected to the culture of the location when on property through the hotel’s locally inspired design, and local retail and food offerings. To fuel discovery, Hyatt Centric Cambridge will provide bicycles for guests to rent so they can go forth and explore the best places in town, such as the famous colleges of Cambridge, only a 15-minute bicycle ride away.

The forthcoming Hyatt Centric Cambridge is part of the University of Cambridge’s development of Eddington, a new community northwest of Cambridge. Alongside the full-service lifestyle hotel, there will be 3,000 new residential units, a 180-unit extended-stay hotel, retail facilities, a community and performance arts center, sports fields, public parks, a school and student accommodations, as well as academic and research facilities.

“Cambridge is an iconic city steeped in history, and rich academic and cultural traditions. We are excited to be part of its evolving community,” said Stephen McCall, CEO of edyn. “This multi-layered development will create a new neighborhood in close proximity to Cambridge’s city center, catering to the highly diverse and international mix of faculty, employees, and students, as well as domestic and foreign travelers.”

Hyatt Centric Cambridge will join Hyatt’s growing hotel portfolio in the UK with Andaz London Liverpool Street, Hyatt Place London Heathrow Airport, Hyatt Place West London Hayes, Hyatt Regency Birmingham, Hyatt Regency London – The Churchill, Hyatt Regency & Hyatt House Manchester and Great Scotland Yard. Further additions include Hyatt Place London City East and Hyatt Regency Edinburgh Marina, expected to open in 2021.

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 December 31, 2019, 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 edyn

edyn has been an industry pioneer in extended stay living for over 20 years. The group has built a range of lifestyle aparthotels and extended stay apartments across four brands including Locke, SACO, The Wittenberg and The Moorgate.

edyn is founded on the philosophy that travel should be a rich journey of discovery, rewarding curiosity with knowledge and inspiration. Its purpose is to engage and inspire with distinctively designed hotels, firmly rooted in the local neighbourhood, offering vibrant experiences and connections which nourish and enliven the soul.

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.

Hyatt Expands Presence in Turkey With Plans for Hyatt Regency Izmir Istinye Park

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CHICAGO–()–Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a franchise agreement with Orjin Konaklama Yönetim Hizmetleri A.Ş. for the first Hyatt branded hotel in Izmir, Turkey. Expected to open in 2021, the 161-room hotel marks the seventh Hyatt branded property in Turkey and the brand’s entry into Izmir, the country’s third largest and one of the oldest cities in the Mediterranean.

Hyatt Regency Izmir Istinye Park will be part of a new major development, Istinye Park Izmir, slated to become a local landmark comprising of a high-end shopping mall and an impressive 860,000 square foot (80,000 square meter) park. Located 12 miles (20 kilometers) from the airport, the hotel will be in close proximity to the metro, tram and bus stations, providing direct access to downtown Izmir.

“Turkey continues to be one of the most popular tourist destinations in Europe, and we have long sought to expand our brand footprint outside of Istanbul,” said Takuya Aoyama, vice president development, Hyatt. “We are very pleased to be working with Orjin Group who has an excellent track record of developing and operating premium real estate in the country.”

The property, which will overlook the Gulf of Izmir, will be designed with business and leisure travelers in mind, offering seamless and personalized experiences for any occasion. Hyatt Regency Izmir Istinye Park will feature a restaurant and bar, as well as a spa and a fitness center. Additionally, with more than 21,500 square feet (2,000 square meter) of flexible event space, the hotel will also offer a premium venue for corporate meetings and social gatherings alike.

“We are thrilled to be working alongside Hyatt as it expands its brand presence in Turkey,” said Zafer Kursun, chairman of Orjin Group. “Hyatt Regency is a globally recognized brand and our extensive knowledge of the Turkish market and the city of Izmir will allow us to develop a premium property.”

Hyatt Regency Izmir Istinye Park will be joining Hyatt’s growing portfolio across Turkey, alongside Park Hyatt Istanbul – Macka Palas, Hyatt Regency Istanbul Atakoy, Grand Hyatt Istanbul, Nish Palas Istanbul, Hyatt Centric Levent Istanbul and Hyatt House Gebze.

For more information on the Hyatt Regency brand and its range of properties worldwide, visit hyattregency.com and connect with the Hyatt Regency brand on Facebook and Instagram.

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 making travel free from stress and filled with success. More than 200 conveniently located Hyatt Regency urban and resort locations in more than 30 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 with a portfolio of 20 premier brands. As of December 31, 2019, 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 programme that provides distinct benefits and exclusive experiences to its valued members. For more information, please visit www.hyatt.com.

About Orjin Konaklama Yönetim Hizmetleri A.Ş.

Orjin Konaklama Yönetim Hizmetleri A.Ş. is a joint stock company based in Istanbul and the real estate development company within Orjin Group. Orjin Group started his commercial activity in the beginning of 1980’s with the production of leather garment and related wear. With an export-oriented mindset, Orjin Group has produced and is still producing high quality leather and fur products for international luxury brands.

In 1990’s the Group has added Real Estate Developments to its field of activity. Presently, Orjin Group possesses a big portfolio of real estates, which mainly consists of historical buildings in shopping streets, hotel, office and logistics buildings at different locations of Istanbul. The most well-known development of Orjin Group is IstinyePark Istanbul Shopping Center and Residences Project, which was awarded by ICSC – International Council of Shopping Centers as the Best Shopping Center in Europe in 2009. Orjin Group is now developing IstinyePark Izmir Shopping Center and Hotel Project having a total investment of 425 million US Dollars. Hyatt Regency Izmir Istinye Park will be the hotel component of the mixed used development in Izmir.

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.

Hyatt Reports Fourth Quarter 2019 Results

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CHICAGO–()–Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported fourth quarter 2019 financial results. Net income attributable to Hyatt was $321 million, or $3.08 per diluted share, in the fourth quarter of 2019, compared to $44 million, or $0.40 per diluted share, in the fourth quarter of 2018. Adjusted net income attributable to Hyatt was $49 million, or $0.47 per diluted share, in the fourth quarter of 2019, compared to $69 million, or $0.62 per diluted share, in the fourth quarter of 2018. Refer to the table on page 16 of the schedules for a summary of special items impacting Adjusted net income and Adjusted earnings per share in the three months ended December 31, 2019.

Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, “We had a strong finish to the year, delivering nearly 12% growth in fee revenues and 7.4% net rooms growth, fueled by a record-setting 90 new hotels opened across our system in 2019. We ended the year with a material increase in the percentage of our earnings coming from our managed and franchise fee business. This was driven by consistent execution of our strategy to concurrently drive our organic growth and continue to reduce our holdings of hotel real estate at attractive valuations.”

Fourth quarter 2019 financial results as compared to fourth quarter 2018 are as follows:

  • Net income increased 621.5% to $321 million.
  • Adjusted EBITDA increased 5.3% to $191 million, up 5.7% in constant currency.
  • Comparable system-wide RevPAR decreased 0.5%, and was negatively impacted by approximately 110 basis points as a result of political unrest in Hong Kong, and by approximately 60 basis points from the timing of the Jewish holidays. RevPAR increased 1.4% at comparable owned and leased hotels.
  • Comparable U.S. hotel RevPAR decreased 1.3%; full service and select service U.S. hotel RevPAR decreased 1.1% and 1.8%, respectively.
  • Comparable owned and leased hotels operating margin was flat at 24.6%.
  • Adjusted EBITDA margin increased 100 basis points to 29.7% in constant currency.

Fiscal year 2019 financial results as compared to fiscal year 2018 are as follows:

  • Net income decreased 0.4% to $766 million.
  • Adjusted EBITDA decreased 2.9% to $754 million, down 2.0% in constant currency, reflecting significant transaction activity.
  • Comparable system-wide RevPAR increased 0.7%, including an increase of 1.0% at comparable owned and leased hotels. Comparable system-wide RevPAR growth was negatively impacted by approximately 40 basis points as a result of political unrest in Hong Kong.
  • Comparable U.S. hotel RevPAR decreased 0.6%; full service U.S. hotel RevPAR was flat and select service U.S. hotel RevPAR decreased 2.0%.
  • Comparable owned and leased hotels operating margin was flat at 24.2%.
  • Adjusted EBITDA margin decreased 170 basis points to 29.2% in constant currency.
  • Net rooms growth was 7.4% in 2019.
  • As of December 31, 2019, the Company’s pipeline consisted of approximately 500 hotels, or approximately 101,000 rooms.
  • The Company repurchased 5,621,281 shares of common stock for $421 million in 2019, compared to 12,723,895 shares for $966 million in 2018.

Mr. Hoplamazian continued, “We have successfully completed the integration of the Two Roads brands. We have had significant developer interest for these brands since acquisition, and expect these new brands to drive further growth in the future. We believe our pipeline supports sustainable growth over time, and in 2019, our pipeline expanded by over 13% to approximately 101,000 hotel rooms, equivalent to 45% of our global rooms portfolio open today.”

Fourth quarter of 2019 financial results as compared to the fourth quarter of 2018 are as follows:

Management, Franchise and Other Fees

Total fee revenues increased 11.8% (12.1% in constant currency) to $161 million. Base management fees increased 12.3% to $65 million and incentive management fees increased 4.0% to $45 million, driven primarily by new and ramping system-wide hotels. Franchise fees increased 10.1% to $34 million. Other fee revenues increased 39.2% to $17 million.

Americas Management and Franchising Segment

Americas management and franchising segment Adjusted EBITDA increased 6.0% (6.3% in constant currency). RevPAR for comparable Americas full service hotels decreased 0.6%; occupancy decreased 60 basis points and ADR increased 0.3%. RevPAR for comparable Americas select service hotels decreased 1.8%; occupancy increased 10 basis points and ADR decreased 2.0%. Total Americas management and franchising adjusted revenues increased 25.5% (25.9% in constant currency), which was primarily attributable to the acquisition of Two Roads and recently opened hotels.

Group rooms revenue at comparable U.S. full service hotels decreased 2.6%; room nights decreased 2.8% and ADR increased 0.2%. Transient rooms revenue at comparable U.S. full service hotels increased 0.2%; room nights increased 0.9% and ADR decreased 0.7%.

Americas net rooms increased 5.1% compared to the fourth quarter of 2018.

Southeast Asia, Greater China, Australia, South Korea, Japan and Micronesia (ASPAC) Management and Franchising Segment

ASPAC management and franchising segment Adjusted EBITDA increased 20.2% (consistent in constant currency). RevPAR for comparable ASPAC full service hotels decreased 3.5%, driven primarily by political unrest in Hong Kong, offset partially by strength in Japan and South Korea. Occupancy decreased 70 basis points and ADR decreased 2.7%. RevPAR for comparable ASPAC select service hotels increased 4.2%; occupancy increased 510 basis points and ADR decreased 3.4%. Revenue from management, franchise and other fees increased 8.2% (8.3% in constant currency).

ASPAC net rooms increased 11.2% compared to the fourth quarter of 2018.

Europe, Africa, Middle East and Southwest Asia (EAME/SW Asia) Management and Franchising Segment

EAME/SW Asia management and franchising segment Adjusted EBITDA increased 25.9% (27.6% in constant currency). RevPAR for comparable EAME/SW Asia full service hotels increased 7.2%, driven by strong growth in most European markets. Occupancy increased 410 basis points and ADR increased 1.2%. RevPAR for comparable EAME/SW Asia select service hotels increased 5.2%; occupancy increased 500 basis points and ADR decreased 1.9%. Revenue from management, franchise and other fees increased 17.5% (18.2% in constant currency).

EAME/SW Asia net rooms increased 15.0% compared to the fourth quarter of 2018.

Owned and Leased Hotels Segment

Total owned and leased hotels segment Adjusted EBITDA decreased 8.6% (8.3% in constant currency) including a 4.1% decrease (3.9% in constant currency) in pro rata share of unconsolidated hospitality ventures Adjusted EBITDA. The decrease in total segment Adjusted EBITDA was primarily driven by transaction activity. Refer to the table on page 11 of the schedules for a detailed list of portfolio changes and the year-over-year net impact to fourth quarter owned and leased hotels segment Adjusted EBITDA. Owned and leased hotels segment revenues decreased 3.7% (3.2% in constant currency).

RevPAR for comparable owned and leased hotels increased 1.4%. Occupancy increased 10 basis points and ADR increased 1.4%.

Selling, General, and Administrative Expenses

Selling, general, and administrative expenses increased 85.6%, driven by the performance of marketable securities held to fund rabbi trusts during the period. Adjusted selling, general, and administrative expenses increased 3.9%. Refer to the table on page 19 of the schedules for a reconciliation of selling, general, and administrative expenses to Adjusted selling, general, and administrative expenses.

OPENINGS AND FUTURE EXPANSION

The Company’s net rooms were 7.4% higher in the fourth quarter of 2019, compared to the fourth quarter of 2018. During the 2019 fiscal year, the Company added a record 72 net hotels, representing 15,656 rooms.

As of December 31, 2019, the Company had executed management or franchise contracts for approximately 500 hotels (approximately 101,000 rooms), compared to approximately 445 hotels (approximately 89,000 rooms) at December 31, 2018. Refer to the table on page 22 of the schedules for a breakdown of the pipeline.

SHARE REPURCHASE/DIVIDEND

As part of the Company’s intention to return meaningful capital to shareholders, on February 14, 2020, the Company announced a 5.3% increase in its quarterly cash dividend to $0.20 per share from $0.19 per share, representing an annualized dividend of $0.80 per share. The first quarter dividend will be payable on March 9, 2020 to Class A and Class B shareholders on record as of February 26, 2020.

During the 2019 fiscal year, the Company repurchased $421 million of shares, consisting of 5,621,281 shares of common stock (4,943,897 Class A shares and 677,384 Class B shares). Including common dividends, the Company achieved its target of returning approximately $500 million to shareholders in 2019. During the fourth quarter of 2019, the Company repurchased 1,791,854 shares of Class A common stock for an aggregate purchase price of $141 million. The Company ended the fourth quarter with 36,109,179 Class A and 65,463,274 Class B shares issued and outstanding.

From January 1 through February 14, 2020, the Company repurchased 444,384 shares of Class A common stock for an aggregate purchase price of nearly $39 million. As of February 14, 2020, the Company had approximately $959 million remaining under its share repurchase authorization.

CAPITAL STRATEGY

The Company remains on track to successfully execute plans to sell approximately $1.5 billion of real estate by March 2022 as part of its capital strategy, and as of December 31, 2019, the Company has realized proceeds of almost $1.0 billion from the disposition of owned assets. In a Form 8-K filed on December 18, 2019, the Company announced the sale of the 615-room Grand Hyatt Seoul for approximately $481 million (approximately $467 million, net of closing costs and proration adjustments) to an unrelated third party and entered into a long-term management agreement for the property upon sale. The purchase price is inclusive of undeveloped land adjacent to Grand Hyatt Seoul intended for residential development.

BALANCE SHEET / OTHER ITEMS

As of December 31, 2019, the Company reported the following:

  • Total debt of $1.623 billion.
  • Pro rata share of unconsolidated hospitality venture debt of $572 million, substantially all of which is non-recourse to Hyatt and a portion of which Hyatt guarantees pursuant to separate agreements.
  • Cash and cash equivalents, including investments in highly-rated money market funds and similar investments, of $893 million, short-term investments of $68 million and restricted cash of $150 million.
  • Undrawn borrowing availability of $1.5 billion under its revolving credit facility.

2020 OUTLOOK

The Company is providing the following information for the 2020 fiscal year:

  • Net income is expected to be approximately $113 million to $144 million.
  • Adjusted EBITDA is expected to be approximately $760 million to $780 million. Refer to the table on page 15 of the schedules for a reconciliation of Net Income to Adjusted EBITDA.
  • Comparable system-wide RevPAR growth is expected to be in the range of (0.5)% to 1.5%, as compared to fiscal year 2019.
  • Adjusted selling, general, and administrative expenses are expected to be approximately $320 million. This excludes approximately $36 million of stock-based compensation expense and any impacts related to benefit programs funded through rabbi trusts.
  • Capital expenditures are expected to be approximately $250 million.
  • Depreciation and amortization expense is expected to be approximately $328 million to $332 million.
  • Interest expense is expected to be approximately $77 million.
  • Other income (loss), net is expected to be negatively impacted by approximately $23 million related to performance guarantee expense for the four managed hotels in France prior to the expiration of this guarantee on April 30, 2020.
  • The effective tax rate is expected to be approximately 26% to 28%.
  • The Company expects to grow units, on a net rooms basis, by approximately 6.5% to 7.0%, reflecting over 80 new hotel openings.
  • The Company expects to return approximately $400 million to shareholders through a combination of cash dividends on its common stock and share repurchases.

The 2020 outlook does not include the impact of the current outbreak of the coronavirus (COVID-19) on our business performance as such impact cannot be reasonably estimated at this time. No disposition or acquisition activity beyond what has been completed as of the date of this release has been included in the 2020 Outlook. The Company’s 2020 Outlook is based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company’s expectations may change. There can be no assurance that Hyatt will achieve these results.

CONFERENCE CALL INFORMATION

The Company will hold an investor conference call tomorrow, February 20, 2020, at 10:30 a.m. CT. All interested persons may listen to a simultaneous webcast of the conference call, which may be accessed through the Company’s website at investors.hyatt.com, or by dialing 647.689.4468 or 833.238.7946, passcode #1384809, approximately 10 minutes before the scheduled start time. For those unable to listen to the live broadcast, a replay will be available from 1:30 p.m. CT on February 20, 2020 through February 22, 2020 at midnight by dialing 416.621.4642 or 800.585.8367, passcode #1384809. Additionally, an archive of the webcast will be available on the Company’s website for 90 days.

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. These statements include statements about our plans, strategies, outlook, occupancy, ADR and growth trends, market share, the number of properties we expect to open in the future, the dollar value of owned real estate we expect to sell and the timeline for such sale, our expected adjusted SG&A expense, our estimated comparable system-wide RevPAR growth, our estimated Adjusted EBITDA growth, our expected net rooms growth, our expected level of return of capital to stockholders, maintenance and enhancement to existing properties capital expenditures, investments in new properties capital expenditures, depreciation and amortization expense and interest expense estimates, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, 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, 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 recent Covid-19 outbreak; 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 other forms of shareholder capital return, including the risk that our common stock repurchase program could increase volatility and fail to enhance shareholder value; our intention to pay a quarterly cash dividend and the amounts thereof, if any; 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 SEC, including our annual report on Form 10-K, which filings are available from the SEC. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. 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 do not undertake or assume any 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.

NON-GAAP FINANCIAL MEASURES

The Company refers to certain financial measures that are not recognized under U.S. generally accepted accounting principles (GAAP) in this press release, including: net income, adjusted for special items; diluted EPS, adjusted for special items; Adjusted EBITDA; Adjusted EBITDA margin; and Adjusted SG&A. See the schedules to this earnings release, including the “Definitions” section, for additional information and reconciliations of such non-GAAP financial measures.

AVAILABILITY OF INFORMATION ON HYATT’S WEBSITE AND SOCIAL MEDIA CHANNELS

Investors and others should note that Hyatt routinely announces material information to investors and the marketplace using U.S. Securities and Exchange Commission (SEC) filings, press releases, public conference calls, webcasts and the Hyatt Investor Relations website. The Company uses these channels as well as social media channels (e.g., the Hyatt Facebook account (facebook.com/hyatt); the Hyatt Instagram account (instagram.com/hyatt/); the Hyatt Twitter account (twitter.com/hyatt); the Hyatt LinkedIn account (linkedin.com/company/hyatt/); and the Hyatt YouTube account (youtube.com/user/hyatt) as a means of disclosing information about the Company’s business to our guests, customers, colleagues, investors, and the public. While not all of the information that the Company posts to the Hyatt Investor Relations website or on the Company’s social media channels is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media, and others interested in Hyatt to review the information that it shares at the Investor Relations link located at the bottom of the page on hyatt.com and on the Company’s social media channels. Users may automatically receive email alerts and other information about the Company when enrolling an email address by visiting “Sign up for Email Alerts” in the “Investor Resources” section of Hyatt’s website at investors.hyatt.com.

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 December 31, 2019, 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.

The financial section of this earnings release, including a reconciliation of the Company’s presented non-GAAP measures to the most directly comparable GAAP measures, is provided on the Company’s website at investors.hyatt.com in the “Financial Reporting” section under “Quarterly Earnings”.

World of Hyatt Extends Tier Status and Benefits, Advancing Care for Members During COVID-19

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Business News first on FIR:

CHICAGO–()–In response to the COVID-19 situation, World of Hyatt today announced that it will be offering members residing in the Asia Pacific region a series of tier status and benefits extensions, including:

  • Qualifying World of Hyatt Discoverist, Explorist and Globalist members will now have a new tier expiration of February 28, 2022 – rather than February 28, 2021 – to maintain their elite tier status and benefits.
  • Currently valid Suite Upgrade Awards, Club Access Awards and Free Night Awards that expire in 2020 for qualifying members will be extended through December 31, 2021.

World of Hyatt is also working to evaluate tier and benefit extensions for global members who travel frequently to the Asia Pacific region.

“Now more than ever, it’s a priority for us to stay close to our World of Hyatt members, understand how their lives are impacted and help,” said Amy Weinberg, senior vice president, World of Hyatt. “Extending the expiration of elite tier status and benefits for our members is one of the ways we can care for our most loyal guests, so they have one less thing to worry about during this incredibly difficult time.”

World of Hyatt is actively working to update qualifying members’ accounts to reflect the extension of elite tier status and award validity and expects these changes to be made by March 31, 2020. Qualifying members will receive information regarding these updates through email, My Hyatt Concierge, WeChat communications and more. Members with questions regarding their tier status can contact the nearest Hyatt Global Contact Center, reach Hyatt via WeChat (WeChat ID: HyattHotels) or email worldofhyatt@hyatt.com.

Hyatt remains committed to caring for its colleagues, guests and customers, as well as the communities in which Hyatt hotels operate. To further care for communities impacted by the current global health crisis, Hyatt has made a meaningful donation to the China Women’s Development Foundation, a national public foundation that has been actively working to support the emergency relief works, including donation of medical equipment and care programs for frontline medical members and their families during this crisis.

Hyatt locations globally will continue to closely monitor the COVID-19 situation, remain vigilant and follow recommended procedures and protocols from various health organizations including the World Health Organization (WHO), U.S. Centers for Disease Control and Prevention (CDC) and local authorities – in an effort to ensure the continued safety and wellbeing of guests and colleagues.

For more information, please visit hyatt.com.

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 World of Hyatt

World of Hyatt is Hyatt’s award-winning guest loyalty program uniting participating locations in 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®, Hyatt House®, Hyatt Place®, Joie de Vivre®, Hyatt Residence Club® and Exhale® brands on a global scale. Members who book directly through Hyatt channels can enjoy personalized care and access to distinct benefits including Guest of Honor, confirmed suite upgrades at time of booking, diverse wellbeing offerings, mobile key and exclusive member rates. With more than 16 million members, World of Hyatt offers a variety of ways to earn and redeem points for hotel stays, dining and spa services, wellbeing focused experiences through the FIND platform, offerings through Hyatt’s wellbeing brands Exhale and Miraval; as well as the benefits of Hyatt’s strategic loyalty collaborations with American Airlines AAdvantage®, Small Luxury Hotels of the World™, Lindblad Expeditions and MGM Resorts International. Travelers can enroll for free at world.hyatt.com, download the World of Hyatt app for android and IOS devices and connect with Hyatt on Facebook, Instagram and Twitter.

eTN Hero: Cordelia Igel, team leader at Vox Restaurant, Grand Hyatt Hotel Berlin

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Many of us traveling around the globe on business have travel stories to tell. I spend more than 100 fully-paid nights every year in Hyatt Hotels around the world. Doing this, you get to know a brand more closely.

I am collecting my own list of heroes and honoring each of them eTN Heroes. You cannot buy eTN Heroes, and this title is a publisher’s recommendation based on personal experience.

I realize there are so many heroes in the hospitality industry and even more in the rest of the travel and tourism industry, so my personal experience is only a very small token of well-deserved recognition.

Today, I would like to introduce Cordelia Igel, a senior team leader at Vox Restaurant at the Grand Hyatt, Berlin, Germany as the latest eTN Hero.

Travelers like me experience hotels as a second home. When something doesn’t make sense, I am always outspoken and hope my criticism is heard. I want the businesses that cater to my travel to do well.

Loving my espresso every day is a passion many fellow travelers share. For me, it doesn’t make sense when international hotels cannot see that good espresso is a major selling point. For me, it’s a major buying point when selecting a hotel.

For example, I stopped staying at the Marriott Newark Airport where the Starbucks in this hotel is only open from 6 am to 10 am.

It boggles my mind because people come in 24 hours a day because after all, it’s an airport hotel.

With travelers arriving or leaving this hotel don’t always go by Eastern Standard time.

A good cup of coffee becomes as important as a good bed or a hot shower.

The same goes for food. I select hotels where I can get my breakfast, lunch, or dinner 24/7 because my body time clock is not always synchronized with the time in the destination.

Mistakes happen, especially when you’re jetlagged. One of the worst was when I picked up a suitcase that belonged to another passenger in Tokyo after arriving from Abu Dhabi and showed up at the Grand Hyatt Tokyo with the wrong luggage. Takashi Kai, Assistant Manager at the Grand Hyatt Tokyo, was my first eTN Hero that day and managed this impossible and frustrating situation for me.

Here why I am so thankful to Cordelia Igel, the senior team leader at Vox Restaurant at the Grand Hyatt Berlin, my latest eTN Hero.

In March during ITB  I stayed at the hotel for 8 nights.

The hotel has a fantastic breakfast and a great pool/gym area along with a very central and exciting location close to Potsdamer Platz.

Rooms are a little small and average in Berlin, but acceptable. I may have been spoiled. I stayed at the Hyatt Haus Duesseldorf before arriving in Berlin during the same trip and also one night at the Park Hyatt Hamburg and loved my apartment and hotel suite. My apartment at Duesseldorf Hyatt Haus was over the top – washer, dryer, living room, bedroom, and an outside patio with a million dollar view, and enough space to entertain 100 people.

Here is why Cordelia at the Grand Hyatt Berlin is my hero. Attending a very busy trade show is always a challenge when managing a busy scheduled and sleep. My morning espresso is of utmost importance. In the past, when staying at the Grand Hyatt Hotel in Berlin, I went to Starbucks across the street from the hotel, but this year, Starbucks was no longer there.

What were my options? As a Globalist member in the Hyatt loyalty program, my breakfast is always included. Hyatt Germany is not one of the hotels forcing Globalists to take their breakfast only in the Club lounge.

The continental breakfast at the Hyatt Grand Clun is usually not comparable with the wide variety of food found at VOX restaurant.

So everything was perfect in the morning, right? Wrong!

When trying the Club lounge espresso, I should have known it wasn’t up to my standards as it was served from a push-button machine. However, not all Grand Clubs are the same. At the Grand Hyatt Seoul, Korea the Espresso machine is the best I found in the Hyatt system so far.

At the Grand Hyatt Berlin, when dining in the hotel’s 5-star restaurant VOX, a 3-star espresso is served from a push-button machine.

When I asked the lead server, Cordelia, why they are serving such a superb breakfast and offer only a push button machine-made espresso she offered a solution.

The only good espresso machine in the hotel not using push-buttons was at the hotel bar. Cordelia went to the hotel bar and personally hand-crafted a cup of real espresso for me. She also managed to bring it back within one minute after pouring. Magical!

Every morning after that, Ms. Igel knew what to do. And for that extra touch of service and not hesitating a second to go above and beyond, Vielen Dank Frau Igel, you are my eTN Hero today.

 

 

 

 

Travel News | eTurboNews

Brexit has not deterred business travelers in the UK

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UK’s 2018 Hotels Market Report shows that the UK regional capitals are performing strongly with overall room nights booked growing by 8% across the top 250 UK cities.

London continues to be business travelers’ favorite capital for work trips with 663,000 room nights booked in 2018, an increase of 5% when compared to 2017. But Edinburgh experienced the highest level of growth in 2018 with room nights booked increasing by 16%, Belfast was up 13% and Cardiff up 5%.

The 2018 Hotels Market Report analyses data from corporate hotel bookings made between January and December 2018 by Advantage’s TMC members, who represent around 40% of the UK business travel sector, highlighting business travel trends and booking behaviour.

The report also shows significant growth for cities in the Midlands and North East, with Derby seeing the highest growth with 31% more booked room nights compared to 2017, while York, Nottingham and Gateshead also saw double-digit percentage increases.

Top Ten UK Cities – Booked Room Night Percentage Increase (year-on-year), January – December 2018

1. Derby – 31%
2. York – 22%
3. Plymouth – 21%
4. Inverness – 20%
5. Nottingham – 18%
6. Edinburgh – 16%
7. Reading – 15%
8. Belfast – 13%
9. Norwich – 11%
10. Gateshead – 10%

Global Results

The business world continues to travel widely, with the 2018 Hotels Report recording that hotel demand remains strong in many international cities with New York, Auckland, Wellington, Houston, Paris and Sydney topping the Advantage Top Cities list. In total, worldwide volume grew by over 393,000 room nights, a total increase of 8.74% compared to 2017, indicating that SME (Small and Medium Enterprise) corporate accounts, in which Advantage TMCs specialise, continue to perform strongly.

The total number of bookings made by Advantage business travel members in 2018 saw similar growth – up 8.76% – while the average length of stay remained constant, at 1.87 nights. Increased demand and higher occupancy globally meant hotel rates have increased by US$2 to an average daily rate (ADR) of US$169.41.

The report also looks at trends on bookings and ADR for cities and locations around the world, with New York once again topping the list as the highest volume worldwide city outside the UK, with 90,799 room nights booked at an average rate of US$395.97 per night. Increases were also seen in Bangalore (up 54%), Kuala Lumpur (up 36%) and Boston (up 27%).

The corporate hotel sector continues to grow, with another significant increase in bookings year-on-year, made by independent TMCs. Despite continued uncertainty in both the global and UK economies including Brexit, hotel room night demand is at record levels in many destinations. Although not all destinations in Britain saw an increase in room nights booked, ADR remained strong.

The report is representative of hotel bookings made across most of the major international and independent hotel groups including: Accor, Apex Hotels, Choice Hotels, Citadines, Clayton Hotels, Design Hotels, The Doyle Collection, Edwardian Hotels, glh Hotels, Hallmark Hotels, Hilton, HotelREZ, Hyatt, House of Daniel Thwaites, IHG, Jurys Inn & Leonardo Hotels, Loews Hotels, Macdonald Hotels, Maldron Hotels, Melia Hotels International, Millennium Hotels & Resorts, The Montcalm Hotels, NH Hotels, O’Callaghan Collection, Omni, Park Plaza, Pegasus, QHotels, Quest, Rotana, Radisson Hotel Group, Sabre Hospitality, Small Luxury Hotels, TravelClick, Travelodge, Village Hotels Club, WorldHotels Collection and Wyndham Hotel Group.

Travel News | eTurboNews