Hyatt Hotels Corporation (NYSE: H) today announced the opening of three different distinct hotels across the United States. The new properties include the Grand Hyatt Nashville, Hotel Kansas City, part of The Unbound Collection, and the Hyatt Centric Center City Philadelphia.
The Grand Hyatt Nashville
“Hyatt remains committed to thoughtfully growing our full-service portfolio of brands across the United States,” said Pete Sears, Americas group president, Hyatt. “Hyatt’s purpose of care and our ability to offer guests a customized experience is at the center of these exciting new openings. We believe there is a strong pent-up demand for travel and these new Hyatt hotels are well positioned to offer locally inspired programming, curated experiences and elevated services which our loyal members and guests expect from Hyatt.”
Hotel Kansas City, part of the Unbound Collection
The Hyatt Centric Center City Philadelphia is a brand new built 332-room upscale lifestyle hotel that includes 22 suites centrally located in the heart of downtown Philadelphia. The hotel features contemporary guest rooms and amenities, with more than 5,000 square feet worth of meeting space, a lobby bar and restaurant with American cuisine, and a grab and go market.
Located in Philadelphia’s desirable Rittenhouse Square neighborhood, the location is steps away from tree-filled parks, outdoor gardens, splendid architecture, upscale dining, boutique shops, and a robust nightlife. Located eight miles from Philadelphia International Airport, Hyatt Centric Center City Philadelphia connects travelers with popular Philadelphia historical and cultural attractions in the museum district and Independence National Historic Park.
165-room Hyatt House San Jose Airport officially opens in heart of Silicon Valley
Hyatt Hotels Corporation (NYSE: H) today celebrates a significant brand milestone with the opening of the 100th Hyatt House hotel: Hyatt House San Jose Airport. The newly built airport hotel provides guests the service and convenience of hotel living with the casual comforts of home. The hotel is jointly owned by Liberty Group and Hyatt Hotels.
Conveniently located adjacent to the Norman Y. Mineta San Jose International Airport (SJC), Hyatt House San Jose Airport is accessible from all major freeways in Silicon Valley including 880, 101, and 87, and is less than 35 miles from San Francisco International Airport (SFO). Downtown San Jose is just five miles from the hotel, where guests can enjoy a number of attractions, including California’s Great America amusement park, Levi’s Stadium, San Jose McEnery Convention Center, Avaya Stadium, and SAP Center at San Jose.
“We are thrilled to be the Hyatt House brand’s one hundredth hotel and to bring a new and dynamic guest experience to the San Jose marketplace for both business and personal occasion travelers,” said General Manager John McEntee. “With more than 15 million passengers traveling through SJC in 2019, we’re confident Hyatt House San Jose Airport will provide guests with a comfortable stay experience before embarking on the next leg of their journey.”
Hyatt House San Jose Airport offers:
165 stylish guestrooms, including 113 apartment-style Kitchen Suites with fully equipped kitchens, comfy living rooms, spacious bedrooms and stylish bathrooms
Free Wi-Fi throughout hotel and guestrooms
The Commons, a comfy lobby lounge with an open and welcoming space for guests to relax, work or socialize, and the Outdoor Commons, which includes a fire pit and BBQ grill, the perfect place to sip cocktails and enjoy savory bites
Complimentary Morning Spread, a full hot breakfast buffet served daily for guests, featuring a made-to-order Omelet Bar and assorted breakfast breads and bowls bar with steel-cut oatmeal, fresh fruit and more, along with vegetarian and gluten free options
H Bar, which features the Sip + Snack menu, serving freshly prepared items including soups and sandwiches, plus craft cocktails and premium beers and wines, offered seven days a week
24-hour grab-and-go H Market to meet the everyday needs of guests, from snacks and sundries to freshly prepared salads and sandwiches
24-hour Workout Room to keep fitness routines going
Gathering Rooms with more than 1,800 square feet of flexible meeting or event spaces, a thoughtful food and beverage menu, audiovisual equipment and a House Host to make sure gatherings are a real crowd pleaser
Borrows Menu with often-forgotten items from phone charges to razors and extended stay extras like blenders and laundry baskets
A Very Important Resident (VIR) program, which includes a complimentary welcome amenity, H Bar dining credit, laundry credit, and other personalized perks, for guests staying 21 or more consecutive nights
Additional conveniences, including 24-hour Guest Laundry
A pet-friendly policy that welcomes most dogs or cats (fees apply)
Free hotel shuttle for guests to/from SJC and companies within a three-mile radius
“The opening of this hotel comes at a time of strong momentum for the brand, with Hyatt House hotels under development around the world, including new markets for the brand, such as Canada and Kenya,” said Paul Daly, senior vice president of operations, Americas, Hyatt Place and Hyatt House. “We continue to build and cultivate strong relationships with guests, colleagues, owners, operators, and developers around the world. With their support, the Hyatt House brand is on a terrific trajectory.”
Hyatt House San Jose Airport Leadership
Hyatt House San Jose Airport is under the leadership of General Manager John McEntee and Director of Sales Joanne Bianchi. In his role, McEntee is directly responsible for managing the day-to-day operations of the hotel, including overseeing the hotel’s 45 associates and ensuring guests encounter the neighborly service for which the Hyatt House brand is known. McEntee joined by Bianchi, Director of Sales, who is responsible for providing sales, service and support to travelers and meeting planners frequenting the San Jose area.
Continued growth gives members more rewarding opportunities to experience luxurious destinations around the globe
Hyatt and Small Luxury Hotels of the World™ (SLH) today announced the ongoing expansion of their existing loyalty alliance, celebrating a milestone of over 300 participating SLH hotels around the world for World of Hyatt members to earn and redeem points and enjoy on-property benefits. Since launching in November 2018, this alliance has grown by 500 percent with the number of participating SLH properties in the World of Hyatt program for members to enjoy, and will continue to expand throughout 2020.
“Since launching this alliance, many members have shared their positive experiences when staying at participating SLH properties around the globe and enjoying valuable World of Hyatt loyalty benefits,” said Amy Weinberg, senior vice president, World of Hyatt. “This strategic alliance has grown at rapid pace and is a direct reflection of our commitment to caring for our members in more ways and places beyond our hotels. We remain focused on delivering unique experiences and exclusive benefits for members in order to enhance how they live and travel, and are thrilled that this alliance helps us meet our members in more locations globally.”
World of Hyatt members now have access to more than 300 of SLH’s luxury boutique hotels that offer new locations across growth markets for Hyatt, including:
Le Refuge de la Traye, a mountain retreat in the French Alps with newly renovated eco-luxury chalets set between lake and mountain in Les 3 Vallées ski region
Arima Hotel, a boutique hideaway in the Basque region of San Sebastián, Spain with leading authority in eco-friendly lodging that offers majestic views of the Miramón forest
Vista Palazzo Lago di Como, a 19th century Venetian-style Palazzo offering 18 palatial rooms and suites, known for its glamour and panoramic views of world-famous Lake Como
Ksar Char-Bagh in Morocco, a stunning Moorish palace in a Marrakech palm grove oozing opulence and tranquility with its Persian-style gardens and plunge pools
French CoCo, an all-suite Caribbean escape set on the beautiful island of Tartane, Martinique
The Reef by CuisinArt, a luxury beach resort in Anguilla nestled on the southerly shores of Merrywing Bay overlooking the beautiful coastline
“Our purpose at SLH is to perfectly match the world’s independent travelers with the most individual, intimate and intense hotel and travel experiences around the world,” said Jean-François Ferret, Chief Executive Officer, Small Luxury Hotels of the World™. “This strategic alliance has allowed us to significantly expand our brand awareness by sharing our distinct properties with more than 16 million World of Hyatt members. Our independently-owned hotels participating in this program have seen immediate results and the benefits of sharing their vision with World of Hyatt members.”
Since launching, the World of Hyatt and SLH alliance has added 27 new countries where World of Hyatt members can earn and redeem points, including places like Sweden, Laos, Turks & Caicos, Portugal, Kenya, Iceland, Belize, New Zealand, Belgium, Anguilla and many more. Additionally, hotels that are part of this exclusive relationship have seen a significant uptick in bookings, including Enso Ango Fuya II, The Sukhothai Shanghai, Hotel Eclat Taipei, Claris Hotel & Spa, and Hotel Éclat Beijing. World of Hyatt members of all tiers can take advantage of the following loyalty benefits when booking a participating SLH hotel through a Hyatt channel:
Earning and Redemption
World of Hyatt members earn five Base Points per $1 USD spent on eligible room revenue
World of Hyatt members will receive their standard tier Bonus Points on eligible room revenue spend (10 percent Discoverist, 20 percent Explorist, 30 percent Globalist)
Qualifying nights at SLH hotels will count toward earning World of Hyatt elite-tier status
World of Hyatt members can redeem points to use for free night awards on SLH hotel reservations; each SLH property has been categorized into Hyatt’s existing hotel award chart.
All World of Hyatt Credit Cardmembers will earn an additional four Bonus Points, for a total of nine World of Hyatt points, per $1 spent at participating SLH properties. Hyatt Credit Cardmembers will earn an additional three Bonus Points (U.S. only).
Member Benefits
Participating SLH properties will provide the following on-property benefits to all World of Hyatt members who book through Hyatt, regardless of status:
Complimentary Wi-Fi
Daily complimentary continental breakfast for two guests
Room upgrade (one category at check-in if available)
Early check-in (noon, based upon availability at check-in)
Late check-out (2:00pm, based upon availability at check-in)
SLH 3K Stay Promotion
To further celebrate the continued expansion of this relationship, World of Hyatt members can earn 3,000 Bonus Points for every eligible paid stay at participating SLH properties. To participate, travelers must:
Be a World of Hyatt member (enroll here – membership is complimentary)
Register for the promotion from December 10, 2019 through January 31, 2020 by visiting the promotion landing page on hyatt.com or through the Hyatt Global Contact Center in order to earn Bonus Points
Complete an eligible paid stay at any participating SLH hotel between December 10, 2019 and March 2, 2020.
For more information about World of Hyatt and SLH, please visit hyatt.com/SLH.
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
The first dual-branded Hyatt Place and Hyatt House project in Southeast Asia is expected to open in 2023
Hyatt Hotels Corporation (NYSE:H) announced today that a Hyatt affiliate has entered into a management agreement with Xuan Mai Sai Gon Construction Investment Joint Stock Company (“Xuan Mai”) to develop a 300-key Hyatt Place Saigon, District 7 and 250-key Hyatt House Saigon, District 7 in one of Ho Chi Minh City’s largest districts. Planned for completion in 2023, the new hotels will be Hyatt’s first dual-branded Hyatt Place and Hyatt House hotel project in Southeast Asia and will also mark the entry of the Hyatt House brand in Vietnam.
The Hyatt Place brand combines style, innovation and 24/7 conveniences to create an easy to navigate experience for today’s multi-tasking traveler. Guests can enjoy thoughtfully designed guestrooms featuring distinct zones for sleep, work and play, and free flowing social spaces. Hyatt House hotels are designed to welcome guests as extended stay residents seeking the conveniences of home in modern, apartment-style suites with fully equipped kitchens and separate living and sleeping areas.
“We are delighted to be working with Xuan Mai to develop Hyatt’s first dual-branded select-service hotel project featuring the Hyatt Place and Hyatt House brands in Southeast Asia,” said David Udell, group president, Asia-Pacific, Hyatt Hotels Corporation. “Whether guests are looking for short term or extended stay accommodations, the location of Hyatt Place Saigon, District 7 and Hyatt House Saigon, District 7 will put them in the heart of an up-and-coming residential, commercial and entertainment district that is well connected to Ho Chi Minh City’s Central Business District.”
The new Hyatt Place Saigon, District 7 and Hyatt House Saigon, District 7 will be integral to Eco Green Saigon, an iconic 34-acre mixed-use development, which will also include residential units, office space, event space, and a primary school. Eco Green is strategically located eight miles (13 kilometers) from the Tan Son Nhat International Airport, the busiest airport in Vietnam, three miles (five kilometers) from District 1, Ho Chi Minh City’s Central Business District, and less than two miles (three kilometres) from Phu My Hung New Urban Area comprising of office developments, high end residences and schools, as well as the Saigon Exhibition and Convention Centre.
Hyatt Place Saigon, District 7 will consist of 300 rooms, a café, a bar serving coffee and cocktails, a lobby lounge, and three meeting rooms, as well as an outdoor pool and fitness center. Hyatt House Saigon, District 7 will predominantly cater to guests looking for longer term accommodations, and will consist of 250 rooms divided into studios and one-bedroom suites, a bar, a lobby lounge, one meeting room, as well as an outdoor pool and fitness center. Once completed, the 69-story tower housing both hotels will be one of the tallest buildings in Ho Chi Minh City.
“With this signing, Hyatt is set to more than triple its brand presence in Vietnam over the next few years, and we are delighted to now offer locals and travelers additional accommodation options across the country, as well as have an opportunity to further solidify Hyatt’s brand presence in Ho Chi Minh City,” said Patrick Finn, Senior Vice President – Development, Asia-Pacific, Hyatt. “This project also presents Hyatt with an ideal opportunity to launch the Hyatt House brand in Vietnam’s gateway city that has the potential to be a catalyst for further Hyatt Place and Hyatt House developments in the country.”
“Hyatt Place Saigon, District 7 and Hyatt House Saigon, District 7 is expected to be the center piece of the Eco Green Saigon development in the heart of Ho Chi Minh City’s largest district,” said Mr. Bùi Khắc Sơn, a member of the board of Xuan Mai Sài Gòn. “This is our first hotel project and we are excited to introduce guests to the first dual-branded Hyatt Place and Hyatt House project in Southeast Asia, and furthermore, collaborate with Hyatt, a globally recognized company with extensive hospitality knowledge.”
Strong Net Rooms Growth Fuels Nearly 11% Increase in Management and Franchise Fees
CHICAGO (October 30, 2019) – Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported third-quarter 2019 financial results. Net income attributable to Hyatt was $296 million, or $2.80 per diluted share, in the third quarter of 2019, compared to $237 million, or $2.09 per diluted share, in the third quarter of 2018. Adjusted net income attributable to Hyatt was $39 million, or $0.37 per diluted share, in the third quarter of 2019, compared to $37 million, or $0.33 per diluted share, in the third quarter of 2018. Refer to the table on page 14 of the schedules for a summary of special items impacting Adjusted net income and Adjusted earnings per share in the three months ended September 30, 2019.
Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, “The strength of our brands and the consistent approach we have to operating with excellence and efficiency are serving us very well in this period of volatile economic conditions. In particular, our management and franchise fee growth of nearly 11% this quarter is driven by roughly 13% year-over-year net rooms growth. Further, we have successfully increased productivity and operating efficiency for 23 straight quarters which has allowed us to maintain strong hotel operating margins even in the face of flat RevPAR growth this quarter.”
Third quarter of 2019 financial highlights as compared to the third quarter of 2018 are as follows:
Net income increased 25.4% to $296 million.
Adjusted EBITDA decreased 7.3% to $163 million, a decrease of 6.5% in constant currency.
Comparable system-wide RevPAR was flat, including a decrease of 0.1% at comparable owned and leased hotels. Comparable system-wide RevPAR growth was favorably impacted by approximately 50 basis points from the timing of the Jewish holidays, but was offset by a similar reduction resulting from political unrest in Hong Kong.
Comparable U.S. hotel RevPAR decreased 0.6%; full service hotel RevPAR increased 0.2% and select service hotel RevPAR decreased 2.3%.
Net rooms growth was 13.2%, or 7.9% excluding the acquisition of Two Roads Hospitality LLC (“Two Roads”) in the fourth quarter of 2018.
Comparable owned and leased hotels operating margin decreased 20 basis points to 21.0%.
Adjusted EBITDA margin of 26.9% decreased 280 basis points in constant currency.Mr. Hoplamazian continued, “We continue to execute on our capital strategy and shift our earnings profile while maintaining our focus on global growth. We expect to end the year with approximately 57% of our earnings coming from our hotel management and franchise business, an increase of roughly 400 basis points from 2018. Our pipeline remains robust while continuing to deliver solid organic net rooms growth of almost 8% this quarter, net of the acquisition of Two Roads in the fourth quarter of 2018. While theNote: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.
current global operating environment is challenging, we feel confident in our ability to manage through volatility and identify opportunities to strengthen our brands and performance.”
Third quarter of 2019 financial results as compared to the third quarter of 2018 are as follows:
Management, Franchise and Other Fees
Total management, franchise and other fees increased 11.9% (12.5% increase in constant currency) to $148 million. Base management fees increased 17.8% to $64 million, primarily in the Americas management and franchising segment due to the acquisition of Two Roads. Incentive management fees decreased 1.3% to $33 million. Franchise fees increased 11.8% to $37 million. Other fees increased 22.0% to $14 million. Excluding other fees, management and franchise fees increased 10.9% (11.6% increase in constant currency) to $134 million.
Americas Management and Franchising Segment
Americas management and franchising segment Adjusted EBITDA increased 11.2% (11.4% increase in constant currency), driven by higher management, franchise, and other fees from the Two Roads acquisition and recently opened hotels. RevPAR for comparable Americas full service hotels increased 1.5%, occupancy increased 70 basis points, and ADR increased 0.7%. RevPAR growth was driven by strength in certain resort locations outside of the United States and benefited from the timing of the Jewish holidays which had an approximate 110 basis point favorable impact. RevPAR for comparable Americas select service hotels decreased 2.4%, occupancy decreased 40 basis points, and ADR decreased 1.8%. Total Americas management and franchising adjusted revenues increased 29.6% (29.9% increase in constant currency) including revenue from the residential management operations acquired as part of Two Roads.
Transient rooms revenue at comparable U.S. full service hotels increased 1.0%, room nights increased 2.3%, and ADR decreased 1.3%. Group rooms revenue at comparable U.S. full service hotels decreased 0.2%, room nights decreased 2.3%, and ADR increased 2.2%.
Americas net rooms increased 11.5% compared to the third quarter of 2018, or 5.2% excluding Two Roads.
Southeast Asia, Greater China, Australia, South Korea, Japan and Micronesia (ASPAC) Management and Franchising Segment
ASPAC management and franchising segment Adjusted EBITDA increased 0.9% (2.5% increase in constant currency). RevPAR for comparable ASPAC full service hotels decreased 2.0%, reflecting weakness in Hong Kong. Excluding Hong Kong, RevPAR for comparable ASPAC full service hotels would have increased 0.8%. Occupancy decreased 50 basis points and ADR decreased 1.3% for ASPAC full service hotels. Revenue from management, franchise, and other fees increased 4.2% (5.4% increase in constant currency).
ASPAC net rooms increased 17.7% compared to the third quarter of 2018, or 13.7% excluding Two Roads.
Note: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.
Europe, Africa, Middle East and Southwest Asia (EAME/SW Asia) Management and Franchising Segment
EAME/SW Asia management and franchising segment Adjusted EBITDA increased 4.8% (7.8% increase in constant currency). RevPAR for comparable EAME/SW Asia full service hotels increased 1.6%, driven by strong growth in certain European markets, including France and the United Kingdom, and Southwest Asia, offset partially by weaker performance in Russia which lapped the FIFA World Cup in 2018.
Occupancy increased 290 basis points and ADR decreased 2.6% for EAME/SWA full service hotels. Revenue from management, franchise, and other fees increased 2.2% (4.3% increase in constant currency).
EAME/SW Asia net rooms increased 15.6% compared to the third quarter of 2018, or 14.4% excluding Two Roads.
Owned and Leased Hotels Segment
Total owned and leased hotels segment Adjusted EBITDA decreased 17.6% (16.9% decrease in constant currency), including a decrease of 12.0% (11.4% decrease in constant currency) in pro rata share of unconsolidated hospitality ventures Adjusted EBITDA. Refer to the table on page 11 of the schedules for a detailed list of portfolio changes and the year-over-year net impact to total owned and leased hotels segment Adjusted EBITDA.
Owned and leased hotels segment revenues decreased 3.9% (3.0% decrease in constant currency), and was negatively impacted by non-comparable hotels. RevPAR for comparable owned and leased hotels decreased 0.1%. Occupancy and ADR were both flat.
Corporate and Other
Corporate and other Adjusted EBITDA decreased 22.4% (22.5% decrease in constant currency), inclusive of $6 million of expenses from the Two Roads acquisition.
Corporate and other adjusted revenues increased 19.1% (consistent in constant currency).
Selling, General, and Administrative Expenses
Selling, general, and administrative expenses increased 1.0%, inclusive of rabbi trust impact and stock- based compensation. Adjusted selling, general, and administrative expenses increased 13.8%, or $10 million, including $8 million of integration costs related to the acquisition of Two Roads. Refer to the table on page 17 of the schedules for a reconciliation of selling, general, and administrative expenses to Adjusted selling, general, and administrative expenses.
OPENINGS AND FUTURE EXPANSION
Twenty hotels (or 4,422 rooms) opened in the third quarter of 2019, contributing to a 13.2% increase in net rooms compared to the third quarter of 2018. Excluding the impact of the Two Roads acquisition, net rooms increased 7.9% compared to the third quarter of 2018.
As of September 30, 2019, the Company had executed management or franchise contracts for approximately 460 hotels, or approximately 92,000 rooms. The Company is expected to open approximately 85 hotels in the 2019 fiscal year.
Note: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.
SHARE REPURCHASE/DIVIDEND
During the third quarter of 2019, the Company repurchased a total of 1,776,891 (1,099,507 Class A shares and 677,384 Class B shares) for approximately $133 million. The Company ended the third quarter with 36,811,374 Class A and 66,438,444 Class B shares issued and outstanding. From October 1 through October 25, 2019, the Company repurchased 523,499 shares of Class A common stock for an aggregate purchase price of approximately $37 million. As of October 25, 2019, the Company had approximately $351 million remaining under its share repurchase authorization.
The Company’s board of directors has declared a cash dividend of $0.19 per share for the fourth quarter of 2019. The dividend is payable on December 9, 2019 to Class A and Class B stockholders of record as of November 26, 2019.
CAPITAL STRATEGY UPDATE
In a Form 8-K filed on September 16, 2019, the Company announced the sale of the 1,260-room Hyatt Regency Atlanta for approximately $355 million to an unrelated third party and the entry into a long-term management agreement for the property upon sale.
The Company is in the process of pursuing the sale of one of its wholly-owned hotels and will provide further details as appropriate.
BALANCE SHEET / OTHER ITEMS As of September 30, 2019, the Company reported the following:
Total debt of $1,623 million.
Pro rata share of unconsolidated hospitality venture debt of approximately $564 million, substantially all of which is non-recourse to Hyatt and a portion of which Hyatt guarantees pursuant to separate agreements.
Cash and cash equivalents, including investments in highly-rated money market funds and similar investments, of $660 million, restricted cash of $140 million, and short-term investments of $63 million.
Undrawn borrowing availability of $1.5 billion under Hyatt’s revolving credit facility.2019 OUTLOOK The Company is revising the following expectations for the 2019 fiscal year:
Comparable system-wide RevPAR is expected to increase approximately 0.5%, as compared to fiscal year 2018.
Net income is expected to be approximately $431 million to $470 million. Please refer to the table on page 13 of the schedules for revised ranges impacting net income.
Other income (loss), net is expected to be approximately $98 million to $103 million, reflecting increased interest income and unrealized gains on marketable securities. The estimated $40 million negative impact related to performance guarantee expense for the four managed hotels in France is unchanged.
Adjusted EBITDA is expected to be approximately $730 million to $745 million, primarily reflecting a one point reduction in expected comparable system-wide RevPAR and the sale ofNote: All RevPAR and ADR percentage changes are in constant dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on page 12.
Hyatt Regency Atlanta (as previously reported in a Form 8-K filed on September 16, 2019). Refer to the table on page 13 of the schedules for a reconciliation of Net Income to Adjusted EBITDA.
Depreciation and amortization expense is expected to be approximately $329 million to $334 million.
Interest expense is expected to be approximately $77 million.
Adjusted selling, general, and administrative expenses are expected to be approximately $335 million. This is inclusive of approximately $25 million of expenses related to non-recurring integration costs for Two Roads. Adjusted selling, general, and administrative expenses exclude approximately $33 million of stock-based compensation expense and any potential impact related to benefit programs funded through rabbi trusts.The Company is reaffirming the following information for the 2019 fiscal year:
The Company expects to grow units, on a net rooms basis, by approximately 7.25% to 7.75%, reflecting approximately 85 new hotel openings.
Capital expenditures are expected to be approximately $375 million.
As previously reported in an 8-K filed on September 16, 2019, the Company expects to return approximately $500 million to shareholders through a combination of cash dividends on its common stock and share repurchases.
The effective tax rate is expected to be approximately 25% to 27%.
No additional disposition or acquisition activity beyond what has been completed as of the date of this release has been included in the outlook. The Company’s outlook is based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company’s expectations may change. There can be no assurance that Hyatt will achieve these results.
SFO runway view from Grand Suite Parlor at newly open Grand Hyatt at SFO (Photo: Business Wire)
CHICAGO-(BUSINESS WIRE)-SFO’s only on-airport hotel brings elevated experiences to ‘The City by the Bay’
Hyatt Hotels Corporation (NYSE:H) and San Francisco International Airport(SFO) today announced the opening of Grand Hyatt at SFO, which is now accepting guests. As the only on-airport hotel at San Francisco International Airport, the $237 million luxury hotel sits on 4.2-acres and features 351 rooms including 22 suites, 14,435 square feet of well-appointed meeting and event space, two distinct culinary concepts, and an impressive art collection that was curated exclusively for the hotel by the San Francisco Arts Commission.
“We are thrilled to open the doors to Grand Hyatt at SFO and welcome our international guests, SFO visitors and local friends,” said Henning Nopper, general manager, Grand Hyatt at SFO. “The completion of this hotel, an iconic addition to our Grand Hyatt brand, is a culmination of many years of hard work and planning by Hyatt, San Francisco International Airport, the great City and County of San Francisco, San Francisco Arts Commission, and many more supporters.”
Directly connected to all airport terminals with its own dedicated, newly constructed AirTrain station, Grand Hyatt at SFO serves as a captivating destination within a destination and elevated respite for corporate business travelers as well as leisure guests to bypass the airport bustle. The highly anticipated debut also marks a key milestone in Hyatt’s west coast expansion plan to add 40 new hotels in California, Oregon and Washington by the end of 2021.
“With the opening of Grand Hyatt at SFO, we offer travelers a new benchmark in airport hospitality,” said Airport Director Ivar C. Satero. “The new hotel reflects our commitment to deliver a world-class experience for our guests, with seamless access via our AirTrain system, sustainable building design, thoughtful service and amenities, and inspiring works of public art. My thanks go out to Hyatt, the San Francisco Arts Commission, and our entire design-build team for making this day a reality.”
CONCEPT & DESIGN
The bold, vibrant design and architecture of Grand Hyatt at SFO is the vision of San Francisco-based architect Hornberger + Worstell and associate ED21, along with two internationally acclaimed interior design firms, BraytonHughes Design Studios and RoseBernard Studio. Guests step out of the hotel’s new AirTrain station, which features a dramatic kaleidoscopic stained-glass art installation, and after crossing an enclosed bridge, they enter the hotel’s stunning, light-filled lobby where they are greeted by expansive windows and views of SFO and hills beyond.
Newly opened hotel in the heart of Yantian District of Shenzhen brings Hyatt Regency brand’s signature hospitality and connecting guests to the booming city
Hyatt Hotels Corporation (NYSE:H) today announced the opening of Hyatt Regency Shenzhen Yantian in the east Guangdong Province, China. The 298-room hotel aims to bring the Hyatt Regency brand’s signature intuitive service and energizing experiences to business and leisure guests alike.
As part of a newly concepted Recreational Business District, Hyatt Regency Shenzhen Yantian is located in the heart of Yantian District, neighboring Dameisha Beach and Overseas Chinese Town East along a 12 mile (19.5 kilometer) golden coast. Within an hour’s drive to Shenzhen Bao’an International Airport, the hotel is also half an hour to Shenzhen Railway Station and only a five minute drive to the Shatoujiao port of entry to Hong Kong.
“We sincerely appreciate the support from our owner Shenzhen Vanke Binhai Real Estate Ltd. and are excited to see the Hyatt Regency brand footprint grow in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA),” said Stephen Ho, president, Greater China, global operations at Hyatt. “We look forward to welcoming our guests to Hyatt Regency Shenzhen Yantian with confidence for a world-class hospitality experience.”
Guestrooms
Hyatt Regency Shenzhen Yantian was designed by the renowned HEITZ PARSONS SADEK and features 298 contemporary guest rooms with varied dimensions ranging from 462 square feet to more than 2,300 square feet (43 square meters to 215 square meters). There are 20 suites, four Regency Executive Suites and one Presidential Suite, all of which are spacious and located on the 41st to the 50th floor. Select rooms offer gorgeous ocean views and all rooms feature high-quality amenities and panoramic French windows. Guests staying in Club Access Rooms and Suites can enjoy the exclusive Regency Club benefits on the 49th floor.
Dining and Drinking
The hotel offers several fine dining restaurants that cater to varying tastes and group sizes, including:
XIANGYUE, a Chinese Restaurant on the 6th floor providing authentic Cantonese flavors as well as cuisines of neighboring areas. A comfortable experience that feels like dining in a country village, the restaurant’s layout includes a “Dai Pai Don” style open kitchen offering guests a high-touch taste of Cantonese life.
Market Café is a stylish all-day dining restaurant where guests can enjoy a collection of global delicacies. Whether buffet breakfast and dinner, or all-day a la carte service, Market Café will satisfy any taste with a flavorful option. The Lounge is the ideal place to gather friends or family and enjoy themed afternoon tea and various hand-crafted cocktails. Guests can also visit the Sky Lobby, ideal for connecting with colleagues over a vibrant scenery. For a stress-free meal, the hotel offers 24-hour in-room dining services with a range of selections available anytime.
Meetings and Events
To build a dynamic experience for groups that feels connected, motivated and inspired, the hotel events team will be at hand to support customers during conferences, special events and weddings. The hotel offers nearly 25,000 square feet (2,321 square meters) of meeting and event space in total, including a 12,916 square foot (1,200-square meter) pillar-free grand ballroom and five salons equipped with high-tech audio and video systems. Additionally, the ballroom foyer provides more than 6,500 square feet (612 square meters) of flexible pre-functional space to perfectly showcase the creativity of any event.
The scenic surroundings at Hyatt Regency Shenzhen Yantian create the perfect backdrop for weddings of all sizes. A bridal suite with separate fitting room and living room is situated right beside the grand ballroom to deliver a brilliant wedding experience.
Wellbeing
Guests can relax in the hotel’s refreshing outdoor pool or work out anytime at the hotel’s fully equipped fitness center featuring state-of-the-art equipment.
“Inspired by the hotel’s surroundings, the hotel was built with the concept of bringing the forest into the city, offering guests a place to take a deep breath of fresh air and bask in the beautiful scenery,” said Mary Liu, general manager of Hyatt Regency Shenzhen Yantian. “As a bridge between GBA and the Pearl River Delta area, Shenzhen is at the core of this booming region. We are delighted to deliver Hyatt’s well-known expertise in food and beverage and full range of services and amenities for a productive stay.
Addition of Alila Hotels provides World of Hyatt loyalty members even more places to earn and redeem points and connect to exclusive experiences across distinct hotels and resorts
CHICAGO (June 25, 2019) – Hyatt Hotels Corporation (NYSE:H) today announced the introduction of Alila Hotels into the World of Hyatt loyalty program beginning June 25, 2019. This program expansion allows World of Hyatt members to enjoy more unique stay options, the ability to earn and redeem points and enjoy in-hotel benefits at 16 participating Alila properties located throughout Asia, Southwest Asia and the U.S. This program addition quickly follows Hyatt’s November 2018 acquisition of Two Roads Hospitality and its recent integration of the Thompson Hotels and Joie de Vivre brands, with the Destination Hotels brand set to follow later this year.
16 Alila hotels are joining World of Hyatt beginning June 25, 2019 through July 16, 2019, including:
Ventana Big Sur – an Alila Resort – Big Sur, California (June 25)
Alila Solo – Solo (Surakarta), Central Java, Indonesia (June 25)
Alila Seminyak – Seminyak, Bali, Indonesia (June 25)
Studios at Alila Seminyak – Seminyak, Bali, Indonesia (June 25)
Alila Ubud – Gianyar, Bali, Indonesia (June 25)
Alila Villas Uluwatu – Uluwatu, Bali, Indonesia (June 25)
Alila Manggis – Karangasem, Bali, Indonesia (June 26)
Alila SCBD – Jakarta, Java, Indonesia (June 26)
Alila Diwa Goa – Salcette, Goa, India (July 15)
The Diwa Club by Alila – Salcette, Goa, India (July 15)
Alila Jabal Akhdar – Jabal Al Akhdar, Oman (July 15)
Alila Fort Bishangarh – Jaipur, Rajasthan, India (July 16)
Alila Anji – Anji, Zhejiang, China (July 16)
Alila Wuzhen – Jiaxing, Zhejiang, China (July 16)
“Following the additions of the Thompson Hotels and Joie de Vivre brands into World of Hyatt, we are thrilled to introduce Alila as the next former Two Roads brand to join the loyalty program,” said Amy Weinberg, senior vice president, World of Hyatt. “Alila is an award-winning brand known for its combination of innovative design and eco-luxury in unique locations, set apart by an unprecedented level of private space, crafted artisanship, personalized hospitality, and bespoke journeys. We are looking forward to offering our World of Hyatt members the opportunity to discover even more unique destinations and exclusive experiences at these remarkable properties while enjoying the rewards they’ve come to expect from World of Hyatt.”
Following the completion of the Alila Hotels integration on July 16, 2019, more than 40 hotels across the Thompson Hotels, Joie de Vivre and Alila brands will have joined World of Hyatt in many new destinations including Zihuatanejo, Mexico, Ubud, Bali, Indonesia, and more.
Exclusive Alila FIND Experiences
Additionally, as part of the Alila brand integration, World of Hyatt members will be able to participate in uniquely crafted, authentic experiences at participating Alila hotels and resorts through the FIND experience platform, all of which will align with Hyatt’s three landmarks of wellbeing: Feel, Fuel and Function. Available for members to redeem using points, these specially curated experiences will be focused on enhancing mind and body, through offerings like the Balinese Beauty Ritual at Alila Seminyak, Seminyak, Indonesia; Journey to Gastronomy at Alila Villas Uluwatu, Uluwatu, Indonesia; Payangan “Private Bali” Trekking to explore rice terraces and riverside views at Alila Ubud, Gianyar, Indonesia; and Snorkeling the Blue Lagoon in Bali at Alila Manggis, Karangasem, Indonesia.
Exclusive World of Hyatt Member Offer
To celebrate, members can earn 2,000 Bonus Points for their first
qualifying stay exploring each of the new brands for a total of up to
8,000 Bonus Points, plus a free night when they experience all four
brands this year. Eligible stays at participating hotels begin once each
property participates in World of Hyatt and are valid through December
31, 2019. No registration is required. Full terms for these offers are
below. These offers are combinable with other program offers, and are
part of World of Hyatt’s continued commitment to increasing rewarding
offerings for its global members.
CHICAGO (December 12, 2018) Hyatt Hotels Corporation (NYSE:H) announced today Hotel SOFIA Barcelona is joining The Unbound Collection by Hyatt, becoming the first Hyatt hotel in Barcelona and third property in Spain. The 465-room hotel is located on the Avenida Diagonal, one of Barcelona’s main avenues in the heart of the city.
Originally named after Princess Sofia, wife to the former King of Spain Juan Carlos I, Hotel SOFIA Barcelona has been known to host many dignitaries and heads of state. With the hotel’s rich history paired with its contemporary and luxurious design, Hotel SOFIA Barcelona perfectly meets the brand’s promise of creating story-worthy and unforgettable experiences.
“We are thrilled to welcome guests to the first Hyatt hotel in Barcelona,” said Felipe Espinoza, general manager of the hotel. “Hotel SOFIA Barcelona has long been a symbol of glamour and luxury in the area. Its rich history and stunning architecture will deliver an unforgettable stay for the modern traveler.”
The hotel is home to luxurious suites, five distinct dining options and a live dinner experience where actors, dancers and singers perform nightly. For relaxation, guests can enjoy several leisure facilities including an elegant Mediterranean-inspired spa, the SOFIA Oasis Wellness & Spa, and a tropical garden pool.
Guestrooms
The hotel’s 465 sophisticated and completely renovated rooms are designed for those looking for a space they can call their own, tastefully designed and all with access to SOFIA Oasis Wellness & Spa. There are 18 luxurious suites guests can choose from including So Suite, which offers a large, open space featuring a living room, in addition to a spectacular bathroom with a bathtub and modern touches. All suites feature impressive views of Barcelona and access to the privileged “As You Wish” services, which include amenities such as a 24-hour butler, welcome gifts, access to the Wish Lounge serving daily cocktails and delicacies, and other personalized offerings.
Dining and Drinking
The hotel boasts five distinct gastronomic spaces with unique personalities, all of which have been carefully designed by interior designer Jaime Beriestain. IMPAR delivers Mediterranean fusion cuisine, while Sofia Be So is a more intimate luxury restaurant serving traditional local dishes with premium ingredients. For coffee or cocktails, the Sofia Bar offers the perfect spot to rendezvous. And, for a sweet treat, Philosofia is the hotel’s own bakery, where everything is made fresh daily. The hotel also has its own live dining experience, Zuu, where guests can enjoy evening entertainment.
Wellness
Hotel SOFIA Barcelona serves as a luxury oasis, with an abundance of wellness offerings. Guests have the option to relax, be pampered, and stay fit within the elegant Mediterranean-inspired spa, the SOFIA Oasis Wellness & Spa, a tropical garden pool and a state-of-the-art fitness center.
Meetings and Events
Hotel SOFIA Barcelona features one of the largest meeting spaces in the city, including a convention hall that seats more than 1,000 attendees, as well as 22 multi-purpose meeting rooms distributed over two floors. Featuring natural light and equipped with cutting edge technology, the venue caters to every request, be that business or pleasure.
Hotel SOFIA Barcelona is the third property to open in Europe as part of The Unbound Collection by Hyatt. It joins Hôtel Martinez in Cannes, France and Nish Palas in Istanbul, Turkey.
CHICAGO(December 10, 2018) – Hyatt Place Chongli is the first Hyatt-branded hotel to open in Zhangjiakou in China’s Hebei Province. The hotel features the Hyatt Place brand’s intuitive design, casual atmosphere and practical amenities such as free Wi-Fi.
Hyatt Place Chongli is located within Thaiwoo Ski Resort, which offers offering skiing and other exhilarating snow-sports in the winter and mountain biking and horse riding in the summer.
Hyatt Place Chongli is a 55-minute drive from Zhangjiakou Ningyuan Airport and a three-hour drive from Beijing Capital International Airport. By the end of 2019, guests will be able to travel by train from Beijing to Thaiwoo Ski Resort in 50 minutes. The hotel offers easy access to local attractions, including Grass Skyline, a 133-kilometer stretch of picturesque grassland dotted with Mongolian yurts and grazing cattle; Cuiyun Mountain Forest Park, which is comprised of more than 20 peaks; Huapiling scenic area, a mountainous border between Zhangbei and Chongli counties; and Ice & Snow Museum Chongli, the largest museum of its kind in China.
“As the Chongli district continues to develop its infrastructure and thrive economically, we are excited to add to the momentum with the opening of the first Hyatt Place hotel,” said General Manager Luke Li. “With our smartly designed social spaces and guestrooms with separate work and sleep areas, our multitasking guests can easily accomplish what they need to do while on the road.”
Hyatt Place Chongli offers:
132 spacious guestrooms with separate spaces to sleep, work and play, as well as a Cozy Corner sofa-sleeper
Free Wi-Fi throughout the hotel and guestrooms
Gallery Kitchen Breakfast features an array of Western and Chinese breakfast favorites, including noodles, dim sum, ham, and eggs, as well as fresh fruit, yogurt and more
Gallery Menu serving freshly prepared meals
24/7 Gallery Market offering ready-to-go sandwiches and salads all day long
Coffee to Cocktails Bar featuring coffees and premium beers, as well as wines and specialty cocktails
Odds & Ends program for forgotten items that guests can buy, borrow or enjoy for free
Meeting Places with 160 square meters of flexible, high-tech meeting/function space
24-hour Gym featuring cardio equipment with LCD touchscreens and free ear buds
Heated indoor swimming pool with views of Thaiwoo Ski Resort as well as a freeform kids pool and a massage pool
HYATT PLACE CHONGLI LEADERSHIP
Hyatt Place Chongli is under the leadership of General Manager Luke Li and Director of Sales Justin Guo. In his role, Li is directly responsible for managing the day-to-day operations of the hotel, including overseeing the hotel’s 54 associates and ensuring guests encounter the thoughtful service for which the Hyatt Place brand is known. Guo is responsible for providing sales service and support to travelers and meeting planners frequenting the Beijing area.
