HYATT ANNOUNCES PLANS FOR HYATT REGENCY MOSCOW
Expected to open in 2015, Hyatt Regency Moscow Will Be Part of Area Park Development
CHICAGO (March 7, 2012) – Hyatt Hotels Corporation (NYSE: H) and VTB Arena Park announced today that a Hyatt affiliate has entered into a management agreement for Hyatt Regency Moscow. The new property, expected to open in 2015, will be part of the Arena Park redevelopment, including Moscow’s notable Dynamo football stadium, and will sit adjacent to Petrovsky Park.
Hyatt Regency Moscow will feature 297 guestrooms, including 40 suites, and 56 fully-furnished luxury apartments. The property will also include meeting and ballroom space, four food and beverage outlets, and a fitness center and spa. In addition to the hotel, the Arena Park project will offer guests access to a new football stadium, ice hockey/basketball arena, retail and entertainment zones, offices and residences.
Hyatt Regency Moscow is expected to become a top location for meetings, trainings and social functions. The hotel anticipates guests from government and corporate sectors, including banks, consulting companies, and pharmaceutical and IT companies, which conduct business in Russia’s capital. Moscow’s prevalence as the key contributor to the national economy, make it a prime location for corporate and government travelers.
“Russia, and Moscow in particular, have a strong appeal to global business and leisure travelers, and the country’s influence is only continuing to grow,” said Peter Norman, senior vice president - acquisitions and development for Hyatt International - Europe, Africa, Middle East) LLC. “With the addition of Hyatt Regency Moscow, which comes just months after the announcement of two new Hyatt-branded properties in Vladivostok, we are reinforcing our commitment to becoming the most preferred hotel brand for customers visiting this gateway market.”
The hotel’s affiliation with Dynamo Stadium, as well as its close proximity to public transportation, will also make it an ideal choice during sporting and entertainment events. The hotel will be located just five kilometers from the Kremlin, near key business and shopping districts in Moscow, and will be highly accessible from major roads in the city.
“Working with Hyatt on the Arena Park project is an especially exciting opportunity for us,” said Andrei Peregoudov, VTB Arena park director “Among all the offerings at the sports and entertainment complex, Hyatt Regency Moscow will be an especially great addition to the area.”
Hyatt Regency Moscow will join three other Hyatt and Hyatt Regency hotels in development across Russia, including Hyatt Regency Sochi; Hyatt Regency Vladivostok, Golden Horn; and Hyatt Vladivostok, Burny. Hyatt-branded hotels in Russia currently include Ararat Park Hyatt Moscow and Hyatt Regency Ekaterinburg.
In addition to 149 Hyatt Regency hotels open worldwide as of December 31, 2012, more than 30 previously announced Hyatt Regency hotels are under development around the world in China, India, Latin America, Mongolia, Russia, and the Middle East.
About Hyatt Regency
Hyatt Regency offers a full range of services and facilities tailored to serve the needs of meeting planners, business travelers and leisure guests. Properties generally range in size to over 2,000 rooms and are conveniently located in urban, suburban, airport, convention and resort destinations around the world. Hyatt Regency convention hotels feature spacious meeting and conference facilities designed to provide a productive environment.
About VTB Arena Park
The VTB Arena Park project is a new sports and entertainment development planned in Petrovsky Park near the historic center of Moscow. It consists of three core sections, which synergize to provide Moscow with a spectacular new benchmark in active living and working: VTB Arena - Central Stadium Dynamo is a multi-purpose sports, entertainment and shopping venue that will have a maximum seating capacity of 45,000, and will meet FIFA requirements to host World Cup 2018; Arena Park City houses modern hospitality, living, working, and shopping complexes, including a hotel, congress hall for more than 700 guests, business center, residential village with more 1,000 apartments, and parking; and the Training Academy can host more than 20 different sports, and is an ergonomically-structured traditional park space with additional recreation facilities. Construction will begin in 2012, and the stadium will reopen in 2016. The total cost of the project will amount to $1.5 billion.
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® and Hyatt HouseTM. Hyatt House is changing its brand identity from Hyatt Summerfield Suites®. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Vacation Club®, which is changing its name to Hyatt Residence ClubTM. As of December 31, 2011, the Company's worldwide portfolio consisted of 483 properties in 45 countries. For more information, please visit www.hyatt.com.
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