The new Hyatt Centric hotel is poised to introduce the brand’s
adventurous spirit to Minhang, Shanghai
CHICAGO–(BUSINESS WIRE)–Hyatt
Hotels Corporation (NYSE:H) announced today that a Hyatt affiliate
has entered into a management agreement with Shanghai Xintian Real
Estate Co. Ltd., a joint venture by Shanghai Industrial Urban
Development Group Limited (SIUD), Sun Hung Kai Properties Limited
(SHKP), and Shanghai Minhang Urban Construction Investment Co., Ltd. for
a Hyatt Centric hotel in the rising southwestern Shanghai. The 186-room
hotel will be situated in a pivotal location, ideal for socially
connected guests to find shareworthy experiences in the heart of the
fast-growing city of Shanghai.
A world-class city that never sleeps, Shanghai evokes modern,
historical, and cosmopolitan experiences all at once. It has been one of
the fastest developing cities in the world for the last twenty years,
with more growth expected for years to come. Minhang, located in one of
the inner suburbs of Shanghai, connects the busy Xuhui and Pudong
districts with the surrounding areas of Hangzhou Bay. As home to two of
Shanghai’s newest areas, Xinzhuang and Hongqiao, the district has
realized striking growth in recent years with an aim to become a modern
downtown hub by 2020.
“As Hyatt’s fastest growing lifestyle brand, the Hyatt Centric brand is
all about connecting guests to the heart of the action so they never
miss a moment of adventure,” said Stephen Ho, President, Greater China,
Global Operations for Hyatt. “As we commemorate Hyatt’s 50th
anniversary in Greater China and the Asia Pacific region this fall, we
are delighted to be expanding this unique brand to both international
and Chinese travelers in Shanghai – another exciting addition to the
Hyatt portfolio in this ever-thriving city. We look forward to working
with Xintian Properties on this project, with SIUD offering the most
prime location in Minhang and SHKP’s extensive experience in mixed-use
development to witness what this destination has to offer and set new
milestones in the hospitality industry.”
Expected to open in 2024, the new Hyatt Centric hotel will be a part of
a 7.5 million-square-foot (700,000-square-meter) mixed-use development
on top of the Xinzhuang Subway Station, comprised of residential units,
serviced apartments, premium offices and a grand shopping mall. Designed
with social spaces to connect guests with one another, the hotel will
feature a restaurant, gym, an 82-foot (25-meter) pool and two
multi-functional meeting rooms to capture the burgeoning demand in the
emerging Xinzhuang area. The development will be easily accessible to
the Minhang Economic Development, Zizhu Science Park, National
Exhibition and Convention Center and Shanghai Hongqiao International
Airport/Hontqiao Railway Station via subway. It will also be connected
to central Shanghai and nearby provinces and cities via expressways.
“It is our great pleasure to be working with Hyatt on this project and
look forward to leveraging our expertise with Hyatt’s innovative
approach in the hospitality industry to meet our customers’ evolving
needs,” said Eric Tung, Executive Director of SHKP and Board Chairman of
TODTOWN. “This project has received huge support from the local
government and is the first transit-oriented development to be
constructed without disrupting existing transit operations. The complex
is set to be another successful transportation hub in Shanghai,
connecting the south and north sides of the railway to alleviate the
current urban fragmentation problems.”
For more information on the Hyatt Centric brand and its range of
properties worldwide, visit hyattcentric.com and
connect with the Hyatt Centric 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 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 19 premier brands. As of
December 31, 2018, the Company’s portfolio included more
than 850 properties in 60 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®, The Unbound Collection by Hyatt®, Destination®, Hyatt
Regency®, Hyatt®, Hyatt Ziva™, Hyatt
Zilara™, Thompson Hotels®, Hyatt
Centric®, Hyatt House®, Hyatt Place®, Joie
de Vivre®, 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
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forward-looking statements are necessarily based upon estimates and
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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
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undertake no obligation to update publicly any of these forward-looking
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Contacts
MEDIA CONTACTS:
Lillian Zhang
Hyatt Hotels and Resorts
– Greater China
+86 21 6081 1234
[email protected]
Gloria Kennett
Hyatt
312-780-5506
[email protected]
