Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a franchise agreement for the 144-key Hyatt Place Aguascalientes with affiliates of Promotora Comercial Abadan, S.A. de C.V. The hotel will be managed by Grupo Hotelero Santa Fe, one of the most respected hospitality companies in the Mexican hotel industry. Upon its expected opening in 2019, Hyatt Place Aguascalientes will be Mexico’s sixth Hyatt Place hotel.
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Hyatt Place Aguascalientes will be located in the southern area of the city in close proximity to industrial parks, automotive manufacturing plants and downtown Aguascalientes, where all municipal and central government offices are located. (Photo: Business Wire)
“It is our great pleasure to expand the Hyatt Place brand into Aguascalientes, the most populous city in the state bearing the same name and one of the fastest growing destinations in Mexico,” said Luciano Julio, regional director of operations in Latin America, Hyatt Place and Hyatt House. “This opening will mark the brand’s sixth hotel in Mexico and strengthens Hyatt’s strategy to grow its brands in key locations within the country, such as the ‘golden economic triangle’, to increase preference among guests.”
Hyatt Place hotels offer casual hospitality and purposeful service in a smartly designed, high-tech and contemporary environment. Hyatt Place Aguascalientes will be located in the southern area of the city in close proximity to industrial parks, automotive manufacturing plants and downtown Aguascalientes, where all municipal and central government offices are located. Aguascalientes serves as an industrial and manufacturing hub with an extensive network of modern highways, multiple free trade zones, the two largest railway centers in Mexico, and Lic. Jesus Teran Peredo International Airport.
“We are very excited to add a Hyatt Place hotel to our real estate portfolio,” said Abadan’s General Director Felipe Colomo. “We are honored to collaborate with Hyatt on this project, a project that confirms that Mexico continues to be an attractive market to grow and invest.”
“This announcement is an important milestone for Grupo Hotelero Santa Fe as it will be the first Hyatt that we will be managing. We look forward to growing together with Hyatt in Mexico. We are also excited, as both the city of Aguascalientes and Hyatt Place fit our strategy for operating third party hotels in Mexico," said Francisco Zinser Cieslik, CEO of Grupo Hotelero Santa Fe.
For more information, please visit www.hyattplace.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 Place
Hyatt Place, a brand of Hyatt Hotels Corporation, combines style, innovation and 24/7 convenience to create a seamless stay with modern comforts. There are more than 285 Hyatt Place locations in Australia, Armenia, Brazil, Canada, Chile, China, Costa Rica, Honduras, India, Mexico, Morocco, Nicaragua, Panama, Puerto Rico, Thailand, The Netherlands, United Arab Emirates, United Kingdom, and the United States. For more information, please visit hyattplace.com. Join the conversation on Facebook and Instagram, and tag photos with #HyattPlace and #WhySettle.
About Promotora Comercial Abadan, S.A. de C.V
Promotora Comercial Abadan (Abadan) is a Real Estate company, part of Grupo Punto Alto (GPA). Focused in both Commercial and Hospitality projects, it has developed projects in Chihuahua, Irapuato, Guadalajara and Ciudad Juarez. GPA is the holding entity of fourteen companies focused in Construction, Aerospace, Metal Products and Real Estate. It has consolidated revenues of over 9,500 million pesos, and employs over 2,800 people all over Mexico. For more information visit www.grupopuntoalto.com.
About Grupo Hotelero Santa Fe
Grupo Hotelero Santa Fe is a leading company in the Mexican hotel industry, focused on acquisitions, use conversions, development and operation of its own hotels as well as third party-owned hotels. The Company focuses on strategic hotel location and quality, a unique hotel management model, strict expense control and the proprietary Krystal® brand as well as other international brands. As of year-end 2016, the Company employed over 2,800 people and generated revenues of Ps. 1,221 million. For more information, please visit gsf-hotels.com
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 13 premier brands. As of September 30, 2017, the Company's portfolio included 739 properties in 57 countries. 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®, Miraval®, 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 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 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.
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