Hyatt Announces JV with Host Hotels for Hawaiian Club

Hyatt Hotels Corporation

announced today that an affiliate of the company has formed a joint venture with an affiliate of Host Hotels & Resorts, Inc. to develop and operate a 131-unit Hyatt Residence Club resort in Maui, Hawaii on Ka'anapali Beach. A Hyatt affiliate will invest approximately $40 million in the vacation ownership property. Expected to open in 2014, Hyatt Ka'anapali Beach, a Hyatt Residence Club will be the first Hyatt Residence Club property in Hawaii, and will join 15 other Hyatt Residence Clubs throughout the United States and Puerto Rico.