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June 20, 2012 at 17:25 PM EDT
Hyatt Announces Groundbreaking for Hyatt Place Hotel in Omaha’s Old Market District

Hyatt Hotels Corporation (NYSE: H) announced the groundbreaking today for the first Hyatt-branded hotel in Nebraska, Hyatt Place Omaha Downtown/Old Market. The investment of Hyatt affiliates in the purchase of the land and the construction of the hotel, which Hyatt affiliates will own and manage, will total approximately $27 million. Once open, the hotel is expected to create about 50 full-time jobs in Omaha, which is also home to the Worldwide Reservation Center for all Hyatt-branded hotels worldwide. The reservation center has grown from 14 associates in 1972 to 650 associates today and provides reservation assistance, customer service and sales support for Hyatt-branded hotels seven days a week, 365 days a year.

Groundbreaking Ceremony for Hyatt Place Omaha Downtown/Old Market; Pictured left to right: Greater O ...

Groundbreaking Ceremony for Hyatt Place Omaha Downtown/Old Market; Pictured left to right: Greater Omaha Chamber President and CEO David G. Brown, Omaha Mayor Jim Suttle, Nebraska Governor Dave Heineman, Hyatt Vice President of Development Kevin Schramm, Hyatt Senior Vice President of Franchise and Owner Relations Jim Chu, Photo Credit: Green Room Studios Photography

"I am delighted to welcome the first Hyatt property to our state," said Gov. Dave Heineman. "Downtown Omaha is a good location, being the Home of the College World Series and nationally recognized Henry Doorly Zoo. I want to offer my congratulations to everyone who played a role in this project. This collaboration is another reason why Nebraska is the ideal place to live, to work, and to raise a family."

Governor Heineman, Omaha Mayor Jim Suttle, and Greater Omaha Chamber President David Brown joined Hyatt executives and other dignitaries at the Hyatt Place Omaha Downtown/Old Market hotel site today to celebrate the kick off of construction of the new hotel, which is slated to open in 2014.

“We welcome this significant investment in Omaha,” said Omaha Mayor Jim Suttle. “We are glad we were able to work very closely with Hyatt to help bring to Omaha the first Hyatt-branded hotel in Nebraska. We look forward to the hotel’s grand opening, which we know will bring many additional economic benefits to the city.”

Hyatt Place Omaha Downtown/Old Market will have 159 rooms in a stand-alone, ten-story building with self-contained parking, located at the northwest corner of Jackson Street and 12th Street. The hotel, designed by the Chicago office of the DLR Group, will be situated amidst Omaha’s arts and entertainment center that features fine dining, shopping, corporate meeting facilities, and upscale nightlife. Woodbine Development is overseeing the development of the project on behalf of Hyatt affiliates, with Hawkins Construction as General Contractor.

“This project provided us with a unique opportunity in a city that is already very significant to Hyatt,” said Kevin Schramm, vice president of development for Hyatt Hotels & Resorts. “Hyatt Place Omaha Downtown/Old Market will be a valuable addition to the expanding roster of urban Hyatt Place locations, and we look forward to introducing this innovative brand to the city.”

“We’ve seen a downtown Omaha revitalization within the last decade, especially with the addition of major developments like the Holland Performing Arts Center, CenturyLink Center and TD Ameritrade Park. Now we will add Hyatt Place to the ever-growing list and we are proud to have played a role,” said Greater Omaha Chamber President David G. Brown. “Hyatt’s investment and job creation speaks volumes about the strength of our economy and the appeal of the Old Market area.”

Currently, there are 167 Hyatt Place hotels in operation in the United States, with more than 35 announced projects under development throughout the U.S., China, Europe, Southwest Asia, Latin America, and the Middle East.

ABOUT HYATT PLACE

Launched in 2006, Hyatt Place brings to the upscale select-service hotel category the authentic hospitality for which Hyatt is known. Inspired by multitasking travelers’ 24/7 lifestyle, Hyatt Place combines stylish design and practical amenities with forward-thinking technology and purposeful service. Spacious guestrooms feature multiple areas to work and relax, and include the Cozy Corner, an eight-foot sectional sofa sleeper; plush Hyatt Grand Bed; and ergonomic work center.

Every guestroom is also equipped with a state-of-the-art media center that allows electronic devices to plug directly into the 42-inch, high-definition television, giving guests instant access to the technological amenities they’re accustomed to accessing at home or in the office.

Hyatt Place hotels also feature complimentary Wi-Fi access, a StayFit@Hyatt fitness center, a coffee and wine bar serving specialty coffees and premium wine and beer, and a Grab ’n Go case stocked with freshly made sandwiches and salads. The Guest Kitchen offers made-to-order breakfast, lunch and dinner entrées around the clock, in addition to the a.m. Kitchen SkilletTM, a complimentary continental breakfast served daily. Specially trained Hosts are on hand to offer assistance with everything from directions to check-in to a freshly made meal.

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 brand names and have locations on six continents. 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 March 31, 2012, the Company's worldwide portfolio consisted of 488 properties in 45 countries. For more information, please visit www.hyatt.com.

Forward-Looking Statements

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. These statements include statements about our plans, strategies, the number of properties we expect to open in the future and when we expect these properties to open, our expected capital expenditures, and other 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, general economic uncertainty in key global markets, 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; our ability to successfully execute and implement our organizational realignment and the costs associated with such organizational realignment; loss of key personnel, including as a result of our organizational realignment; 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; if our third-party owners, franchisees or development partners are unable to access the capital necessary to fund current operations or implement our plans for growth; 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; foreign exchange rate fluctuations or currency restructurings; general volatility of the capital markets; our ability to access the capital 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 SEC. 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.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50318587&lang=en

Contacts:

Hyatt Hotels Corporation
Laurie Cole, (312) 780-5935
laurie.cole@hyatt.com
or
Jamie Zimmerman, (312) 780-6070
jamie.zimmerman@hyatt.com
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