Printer-friendly versionCHICAGO (February 19, 2014) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with P.T. Wynncor Bali for an Andaz resort in Bali, Indonesia. Upon completion, the hotel will be the first Andaz-branded offering in Southeast Asia.
“We are delighted to introduce the Andaz brand to Indonesia, and honored to strengthen our relationship with P.T. Wynncor Bali, a strong, experienced developer and the owner of Grand Hyatt Bali and Bali Hyatt, which is currently under renovation and will be rebranded as a Hyatt Regency,” said Ratnesh Verma, senior vice president, real estate and development, Asia Pacific for Hyatt Hotels & Resorts. “Located in an established, beautiful vacation destination, Andaz Bali will be a great addition to the Company’s resort portfolio. Andaz Bali will bring the to life the brand’s mission of creating inspiring, indigenous experiences and immersing guests into the destination’s local culture with an array of unique activities.”
“We have worked with Hyatt for more than two decades, and continue to be very satisfied and optimistic about our current and future relationship with the Company,” said Jefri Darmadi, commissioner, P.T. Wynncor Bali. “Working again with Hyatt is an honor for us, and we look forward to introducing Andaz Bali to the region.”
Slated to open in 2016, Andaz Bali will be a beachfront resort designed by international architect Tierra Design and Japanese interior design firm Spin Design Studio. The hotel will be comprised of low-rise clusters and pavilions set within dramatic landscaping, and will feature 144 guestrooms and villas, small intimate meeting facilities, multiple dining options, a fitness center, several outdoor swimming pools, and a spa.
Global in scale while local in perspective, Hyatt’s Andaz brand delivers an innovative hospitality experience and attentive, unscripted service designed to accommodate guests’ personal preferences. Hotels in this collection reflect the unique cultural scene and spirit of the surrounding destination through their Andaz Salon events and are dedicated to creating natural and vibrant living spaces where travellers can indulge in their own personal sense of comfort and style. Eleven Andaz hotels are currently open: USA - Andaz 5th Avenue and Andaz Wall Street in New York, Andaz San Diego, Andaz West Hollywood, Andaz Napa, Andaz Savannah, and Andaz Maui at Wailea; Andaz Peninsula Papagayo, Andaz Liverpool Street London; Andaz Amsterdam Prinsengracht; and Andaz Shanghai. Andaz Tokyo Toranomon Hills is expected to open in mid-2014, marking a first for the brand in Japan. For more information, please visit www.andaz.com.
About PT Wynncor
PT Wynncor is the owner of Grand Hyatt Bali and Bali Hyatt, which is currently under renovation and will be rebranded as a Hyatt Regency, and the currently under development Andaz Bali. It is a joint venture between PT Jakarta Setiabudi Internasional Tbk, JC Hotels Hong Kong, and Hyatt International Corporation. PT Jakarta Setiabudi Internasional Tbk., (JSI) established nearly four decades ago. JSI is among the top players in Indonesia’s property development industry. Since it was founded by Mr. Jan Darmadi in 1975, the company has comprehensively developed its portfolio, incorporating hotels, residential, offices and townhouses, and retail properties. As of 2013, JSI managed 18 valuable properties with a total asset market value of approximately US$1.2 billion. JSI is distinguished by a visionary mindset and dynamic corporate culture, nurturing creativity, innovation, teamwork and an unconventional approach. JSI is committed to continuously delivering high growth by persistently innovating and seizing opportunities in such a dynamic business environment.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt House®, Hyatt ZilaraTM, and Hyatt ZivaTM brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt Residences® and Hyatt Residence Club®. As of December 31, 2013, the Company's worldwide portfolio consisted of 548 properties in 48 countries. For more information, please visit www.hyatt.com.
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, 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; if our third-party owners, franchisees or development partners are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital 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 SEC. We caution you not to place undue reliance on any forward-looking statements, which are made 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 laws. 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.