CHICAGO--(BUSINESS WIRE)--Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with a M&L Hospitality affiliate for a Hyatt Regency hotel in Sydney, Australia. The hotel, located at 161 Sussex Street and previously part of the Four Points by Sheraton brand, will be rebranded to Hyatt Regency Sydney at midnight on November 30, 2016, marking the Hyatt Regency brand’s return to Sydney.
Hyatt Regency Sydney will enter the Australian market during a time of growing demand for business, Meetings, Incentives, Conferences and Exhibitions (MICE) and leisure travel. According to the Australian Bureau of Statistics, the market saw 7.6 million visitor arrivals for the year ending February 2016, which was an increase of 9 percent compared to the previous year.
“We are thrilled to work with M&L Hospitality to bring the Hyatt Regency brand back to Sydney,” said David Udell, group president – Asia Pacific, Hyatt Hotels Corporation. “Hyatt hotels have been operating in Australia for more than 30 years, providing a solid foundation for future growth in what is a dynamic market. This hotel will resonate with business and leisure travelers alike, and furthermore, we believe this hotel will be a leader in providing outstanding exhibition and function spaces so meeting planners can enable attendees to have a great experience.”
Following a significant $250 million redevelopment and refurbishment, Hyatt Regency Sydney will enjoy an unparalleled location in the Sydney Central Business District adjacent to Darling Harbour, providing the perfect setting for corporate, leisure and meeting and events programs. This expansion will also include a new 24-story tower and 222 additional guestrooms, making Hyatt Regency Sydney the largest upscale, full service hotel in Australia with a total room count of 892. Additionally, the hotel will introduce a 272-seat all day dining restaurant, which will build off Hyatt’s history of culinary excellence, and will also feature the only hotel rooftop bar in Sydney and a Regency Club lounge with stunning panoramic views of the harbor.
The hotel will feature more than 37,100 square feet (3,450 square meters) of state-of-the-art meeting spaces for events, including two ballrooms that can seat more than 1,000 people, which will be part of the new pillar-less convention center with panoramic views of Darling Harbour. With a four-ton car lift and a four-ton goods lift, as well as a separate coach check-in facility for expedited registration for large groups, the hotel is positioned to become the preferred choice for conference organizers locally and globally.
For more information, please visit www.hyatt.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 REGENCY
The Hyatt Regency brand prides itself on connecting travelers to who and what matters most to them. More than 160 conveniently located Hyatt Regency urban and resort locations in over 30 countries around the world serve as the go-to gathering space for every occasion – from efficient business meetings to memorable family vacations. The brand offers a one-stop experience that puts everything guests need right at their fingertips. Hyatt Regency hotels and resorts offer a full range of services and amenities, including notable culinary experiences; technology-enabled ways to collaborate; the space to work, engage or relax; and expert planners who can take care of every detail. For more information visit www.hyattregency.com.
ABOUT HYATT HOTELS CORPORATION
Hyatt Hotels Corporation (NYSE: H), headquartered in Chicago, is a leading global hospitality company with a portfolio of 12 premier brands and 652 properties in 53 countries, as of March 31, 2016. 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 create value for shareholders, build relationships with guests and attract the best colleagues in the industry. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences and vacation ownership properties, including under the Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric™, The Unbound Collection by Hyatt™, Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™ and Hyatt Residence Club® brand names and have locations on six continents. For more information, please visit www.hyatt.com.
FORWARD-LOOKING STATEMENTS
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause our actual results, performance or achievements to differ materially from current expectations include, among others, the rate and 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 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 the 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; changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; general volatility of the capital markets and our ability to access such markets; 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.
