Over the next three years, Hyatt International Corporation plans to open 18 properties in 11 countries, adding 6,266 guestrooms to its portfolio of luxury hotels.
The company operates four brands: Park, Grand, Regency and Hyatt Resort & Spa. These properties are located in diverse destinations, from international capitals such as Hong Kong and Paris, to developing cities like Bishkek, Kyrgyzystan, in the Commonwealth of Independent States (CIS), where the company recently opened the city`s only luxury hotel, Hyatt Regency Bishkek.
Hyatt International is strong in the Asia-Pacific region, which represents around two-thirds of current guestrooms, and expansion continues at a fast clip. In the People`s Republic of China, Hyatt will open Grand Hyatt Beijing late this year, Hyatt Regency Hangzhou in April 2002 and, in 2003, Hyatt Regency Chongqing and Park Hyatt Beijing. Grand Hyatt Tokyo also opens in 2003.
In October, Hyatt Regency Hua Hin is scheduled to open in the upscale resort town of Hua Hin, Thailand, 110 miles south of Bangkok, where Thailand`s royal family maintains a retreat. Hyatt International is also opening properties in India, including Hyatt Regency Goa, Hyatt Regency Kolkata, Hyatt Regency Mumbai, and Grand Hyatt Mumbai.
Hyatt International is also committed to developing a stronger presence in Latin America. Park Hyatt Mendoza & Regency Casino, a 185-guestroom city hotel, opened in June in the heart of Argentina`s wine region. In keeping with Hyatt International`s reputation for distinctive design, the luxury hotel incorporates the historic 19th century façade of the Spanish colonial Plaza Hotel, which formerly stood at the site. Park Hyatt Mendoza is located in the social and financial hub of the city. In July 2002, Hyatt International plans to open Grand Hyatt Sao Paulo in Brazil`s leading business city.
Europe and the Middle East
In Europe, Hyatt Regency Warsaw debuts later this fall. It will be Hyatt`s first hotel in the country. Hyatt International continues its European expansion with the opening of a second hotel in central Paris, Park Hyatt Paris-Vend™me. This ultra luxurious 188-guestroom property will be located by the East Bank of Paris near the Opera House and is slated to open in the summer of 2002. Also opening city-center will be the Park Hyatt Milan, which will make its debut in 2003.
Some of Hyatt International`s other large-scale projects include the construction of Grand Hyatt Dubai, a 674-guestroom resort and conference center featuring terraced, man-made lagoons, sprawling grounds and state of the art meetings and leisure facilities. The Dubai property is slated to open in December 2002. In April 2003, Hyatt Regency Soma Bay, a 330-guestroom resort and meeting hotel set on the Red Sea in Egypt, south of Hurghada, is scheduled to open. Hyatt Regency Cairo opens mid 2003.
According to Hyatt International President Bernd Chorengel, “Hyatt International has grown its luxury brands rather than acquiring them through public mergers and acquisitions. Hyatt International has resisted the temptation to bolster short-term earnings at the expense of longer term values.”
Since 1992, Hyatt has posted double-digit percentage increases in gross operating profits. In the overseas market, there is still potential for expansion in the company`s core hotel business and Hyatt International is currently growing at a rate of four to five properties a year and plans to open 100 more hotels by 2010.
Hyatt International is regarded as a leading visionary in the lodging industry and is consistently ranked highly in worldwide surveys. The Far Eastern Economic Review ranked Hyatt International 28th in the “Multinational Companies” category, ahead of any other hotel chain, in its “Asia`s Leading Companies” 2000 survey. The Asian Wall Street Journal/CNBC Asia 2000 Reader Poll named the company “Best Hotel Chain in Asia Pacific.” Hyatt International`s properties also are singled out for excellence in surveys by such publications as Condé Nast Traveler, Institutional Investor and others.
Hyatt International, a privately held company, currently manages 81 Park Hyatt, Grand Hyatt and Hyatt Regency hotels in 37 countries in Latin America, Europe, Africa, the Middle East and the Asia Pacific region. Hyatt Hotels Corporation is a separate company that manages 122 properties in the U.S., Canada and the Caribbean.