Market Overview

Hyatt Signs Management Agreement for Five New India Properties

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CHICAGO--(BUSINESS WIRE)--

Hyatt Hotels Corporation (NYSE: H) and DB Hospitality Pvt. Ltd., part of DB Group, today announced management agreements under which Hyatt will operate five new hotel properties in India.

The properties, currently slated to open on various dates between mid-2010 and early 2014, include Park Hyatt Mumbai, Grand Hyatt Goa, Grand Hyatt Pune, Hyatt Place Pune, and Hyatt Place Mundra.

DB Hospitality Pvt. Ltd., considered one of India’s fastest-growing real estate developers, will develop and own the properties, all of which will be situated in major business centers. The plans include luxury and upscale guest accommodations, serviced apartments, authentic dining options, and banquet/meeting facilities.

“The introduction of five new Hyatt properties in India, one of the world’s most vibrant emerging markets, illustrates our commitment to expanding our global footprint,” said Ratnesh Verma, senior vice president of real estate and development for Hyatt. “We are excited to provide our guests with access to our world-class, preferred brands in these increasingly popular markets in India.”

Hyatt has operated properties in India since 1983. Currently, Hyatt manages five hotels in India, including Park Hyatt Goa Resort and Spa, Grand Hyatt Mumbai, Hyatt Regency Mumbai, Hyatt Regency Delhi, and Hyatt Regency Kolkata.

“We are proud to be partnering with Hyatt for the management of these iconic properties,” said Julian R. Groom, chief operating officer and executive director of DB Hospitality Pvt. Ltd. “Hyatt’s knowledge of the Indian market and its global reputation is consistent with our company’s pursuit of greater excellence and efforts to reach the next level of hospitality.”

The five new Hyatt properties will include:

  • Park Hyatt Mumbai, projected to open in the first quarter of 2014, will include 255 guest rooms and 55 serviced apartments. The hotel will be part of the iconic 125-story India Tower located on Marine Lines in South Mumbai. Foster and Partners, London has been selected as the leading designers for this full-service hotel, which will include exclusive banqueting and meeting facilities.
  • Grand Hyatt Goa, under construction and projected to open in the third quarter of 2010, will include 314 guest rooms. The hotel will be located in “Aldeia de Goa,” a 140-acre mixed-use development in North Goa that features a half-mile beachfront and excellent views of the Zuari River. The hotel, which will feature approximately 35,000 sq. ft. in banquet and meeting facilities, will also include extensive dining and entertainment options.
  • Grand Hyatt Pune, projected to open in the third quarter of 2011, will include 325 rooms and multiple dining, recreation, banquet, and meeting facilities. The hotel will be part of the “Orchid Centre” development and in close proximity to the Pune Golf Course and other major commercial developments.
  • Hyatt Place Pune, projected to open in the first quarter of 2012, will include 130 rooms, a multi-cuisine restaurant, meeting facilities, a fitness center and a pool. The hotel will be located within the Rajiv Gandhi Infotech Park at Hinjewadi, a prominent software hub.
  • Hyatt Place Mundra, projected to open in the third quarter of 2013, will comprise of 150 rooms, a multi-cuisine restaurant, meeting facilities, a fitness center and a pool. The hotel will be located in the Special Economic Zone at the Mundra Port, which is the largest private and multi-product port in India.

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 in 45 countries 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® and Hyatt Summerfield Suites™ brand names, and have locations under development on five continents. Hyatt Vacation Ownership, Inc., a Hyatt Hotels Corporation subsidiary, develops and operates vacation ownership properties under the Hyatt Vacation Club® brand. As of September 30, 2009, the company’s worldwide portfolio consisted of 415 properties. For more information, please visit www.hyatt.com.

About DB Hospitality Pvd. Ltd.

DB Hospitality Pvd. Ltd., headquartered in Mumbai, India, is part of DB Group, a leading Indian real estate development company that specializes in commercial, residential, hospitality, retail, IT Parks, and gated properties. The company is poised to become one of the largest hotel guest room owners in India by 2014.

Forward Looking Statements

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. These statements include statements about our plans, strategies, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, 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 depth and duration of the current economic downturn; levels of spending in the business, travel and leisure industries as well as consumer confidence; declines in occupancy and average daily rate; hostilities, including future terrorist attacks, or fear of hostilities that affect travel; travel-related accidents; changes in the tastes and preferences of our customers; relationships with associates and labor unions and changes in labor law; the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners; risk associated with potential acquisitions and dispositions and the introduction of new brand concepts; changes in the competitive environment in our industry and the markets where we operate; outcomes of legal proceedings; changes in federal, state, local or foreign tax law; fluctuations in currency exchange rates; general volatility of the capital markets and our ability to access the capital markets. A more complete description of these risks and uncertainties can be found in our filings with the U.S. Securities and Exchange Commission. 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.

Hyatt Hotels & Resorts
E. Farley Kern
+1 312 780 5506
farley.kern@hyatt.com

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