EX-99.1 2 d791296dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

LOGO

MEDIA CONTACT:

Amy Patti

312 780 5620

amy.patti@hyatt.com

INVESTOR CONTACT:

Atish Shah

312 780 5427

atish.shah@hyatt.com

HYATT ANNOUNCES SALE OF 38 SELECT SERVICE HOTELS

CHICAGO (September 18, 2014) – Hyatt Hotels Corporation (NYSE: H) today announced that Hyatt affiliates have agreed to sell 38 hotels to a company organized by Lone Star Funds (the “Purchaser”) for approximately $590 million. The portfolio of 38 hotels (the “Hyatt Portfolio”) consists of Hyatt Place and Hyatt House hotels totaling 4,950 rooms. As part of the sale, Hyatt will enter into franchise agreements with the Purchaser, with all hotels maintaining their existing Hyatt Place and Hyatt House branding.

The Purchaser intends to spend approximately $50 million in additional capital expenditures across the Hyatt Portfolio over the next 24 months. Aimbridge Hospitality, LLC will manage the hotels for the Purchaser.

“Hyatt utilized its strong balance sheet and industry expertise to launch the Hyatt Place and Hyatt House brands. We are now leveraging that brand equity to recycle capital while maintaining a long-term brand presence in multiple markets,” said Steve Haggerty, global head of capital strategy, franchising and select service for Hyatt. “We believe the renovations planned for the portfolio will help maintain the brands’ reputation as the leading brands in their segments and we look forward to deepening our relationship with Lone Star and Aimbridge.”

The transaction is expected to be completed in November 2014 and is subject to customary closing conditions and approvals. The Hyatt Portfolio comprises the following hotels:

 

Property

   City    State    Rooms

Hyatt House Boston/Burlington

   Burlington    MA    150

Hyatt House Branchburg

   Branchburg    NJ    139

Hyatt House Sterling/Dulles Airport-North

   Sterling    VA    162

Hyatt House Fishkill/Poughkeepsie

   Fishkill    NY    135

Hyatt House Morristown

   Morristown    NJ    132

Hyatt House Raleigh Durham Airport

   Morrisville    NC    141

Hyatt House Parsippany-East

   Parsippany    NJ    140


Hyatt House Parsippany Whippany

   Whippany    NJ    135

Hyatt House Philadelphia/Plymouth Meeting

   East Norriton    PA    131

Hyatt House Richmond-West

   Richmond    VA    134

Hyatt House Shelton

   Shelton    CT    127

Hyatt Place Albuquerque Airport

   Albuquerque    NM    127

Hyatt Place Atlanta/ Alpharetta/Windward Parkway

   Alpharetta    GA    127

Hyatt Place Atlanta/ Norcross/Peachtree

   Norcross    GA    126

Hyatt Place Birmingham/Inverness

   Birmingham    AL    126

Hyatt Place Boise/Towne Square

   Boise    ID    127

Hyatt Place Charlotte Airport/Tyvola Road

   Charlotte    NC    127

Hyatt Place Chicago/Itasca

   Itasca    IL    126

Hyatt Place Cincinnati Airport/Florence

   Florence    KY    126

Hyatt Place Cincinnati- Northeast

   Mason    OH    127

Hyatt Place Cleveland/ Independence

   Independence    OH    127

Hyatt Place Denver Airport

   Aurora    CO    126

Hyatt Place Detroit/Auburn Hills

   Auburn Hills    MI    127

Hyatt Place Detroit/ Livonia

   Livonia    MI    127

Hyatt Place Lakeland Center

   Lakeland    FL    127

Hyatt Place Louisville-East

   Louisville    KY    121

Hyatt Place Memphis/ Primacy Parkway

   Memphis    TN    126

Hyatt Place Mystic

   Mystic    CT    79

Hyatt Place Oklahoma City Airport

   Oklahoma City    OK    126

Hyatt Place Omaha/ Downtown-Old Market

   Omaha    NE    159

Hyatt Place Nashville/ Brentwood

   Brentwood    TN    124

Hyatt Place Nashville/ Opryland

   Nashville    TN    123

Hyatt Place Pittsburgh Airport

   Pittsburgh    PA    127

Hyatt Place Pittsburgh/ Cranberry

   Cranberry Township    PA    127


Hyatt Place Richmond/ Arboretum

   Richmond    VA    127

Hyatt Place Sacramento/ Rancho Cordova

   Rancho Cordova    CA    127

Hyatt Place Secaucus/ Meadowlands

   Secaucus    NJ    159

Hyatt Place Tampa/ Busch Gardens

   Tampa    FL    126

Hyatt continues to market six additional select service hotels. 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 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 Zilara™ and Hyatt Ziva™ 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 June 30, 2014, the Company’s worldwide portfolio consisted of 563 properties in 48 countries. 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 actual results to differ materially from current expectations include, among others, failure to successfully complete the proposed transaction, including the occurrence of any event, change or circumstance that could give rise to the termination of the purchase agreement (including the failure to satisfy conditions to completion or obtain required approvals); the actual timing of closing; the ability to fund and complete certain capital improvements; and other risks discussed in our 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.

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