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MarketScreener Homepage  >  Equities  >  Nyse  >  Hyatt Hotels Corporation    H

HYATT HOTELS CORPORATION

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Hyatt Hotels : Place Brand To Debut In The Dominican Republic; Construction of new Place Santo Domingo Piantini to increase 's brand presence in the Caribbean

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02/07/2020 | 09:13am EDT

CHICAGO - Hyatt Hotels Corporation (NYSE:H) announced today that Hyatt has entered into a management agreement with Pipax Investment, S.RL. for a new Hyatt Place hotel in the capital city of the Dominican Republic, Santo Domingo. The 120-room Hyatt Place Santo Domingo Piantini will mark the Hyatt Place brand's debut in the Dominican Republic and will be located in the country's epicenter for commercial and financial activities. The hotel will feature the Hyatt Place brand's intuitive design, approachable atmosphere and added conveniences that help guests do more.

With construction expected to begin this year, Hyatt Place Santo Domingo Piantini is projected to open in the third quarter of 2024 and will join the recently opened all-inclusive Hyatt Ziva Cap Cana and Hyatt Zilara Cap Cana in the Dominican Republic. Known for its unexpectedly elevated amenities and uncomplicated experience, the Hyatt Place brand continues to increase its presence with four hotels currently operating in the Caribbean.

'We are thrilled to announce plans to introduce the Hyatt Place brand in the Dominican Republic and expand the brand's footprint in the Caribbean through the development of this new hotel in such a prominent location in Santo Domingo,' said Camilo Bolanos, Vice President of Development and Real Estate - Latin America and Caribbean, Hyatt. 'Hyatt Place hotels offer high-energy professionals who want to balance their priorities and get the most out of their stay, so they can get the most out of their lives.'

The capital city of Santo Domingo has experienced significant economic and industrial growth over the last decade with new commercial and residential developments opening in recent years. With a growing population of approximately one million, Santo Domingo is considered one of the main business and commerce centers in the Caribbean. Constructed by the team at Constructora Aybar & Contemega, Hyatt Place Santo Domingo Piantini will be located in the central area of Santo Domingo within the Ensanche Piantini, considered one of the destination's most sought after location in light of recent retail, commercial and hotel development.

The Hyatt Place brand is rooted in extensive consumer insights indicating that guests seek stylish, comfortable experiences that accommodate their lifestyles and familiar routines. To embody this, the brand offers approachable hospitality and purposeful service in a smartly designed, contemporary environment.

For more information on Hyatt Place hotels, 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.

For further information:

ABOUT HYATT PLACE

Hyatt Place hotels combine style, innovation and 24/7 conveniences to create an easy to navigate experience for today's multi-tasking traveler. Guests can enjoy thoughtfully designed guestrooms featuring distinct zones for sleep, work and play, and free flowing social spaces that offer seamless transitions from work to relaxation. With more than 300 locations globally, Hyatt Place hotels offer freshly prepared food around the clock, efficient service and differentiated experiences for World of Hyatt members. For more information, please visit hyattplace.com. Join the conversation on Facebook and Instagram, and tag photos with #HyattPlace and #WhySettle.

Forward-Looking Statement

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 the 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 seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; 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 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; the timing of acquisitions and dispositions, and our ability to successfully integrate completed acquisitions with existing operations; our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program; cyber incidents and information technology failures; 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.

# # #

MEDIA CONTACT:

Robert Martinez

Hyatt - Latin America and Caribbean

+1 312-780-5447

robert.martinez1@hyatt.com

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 2 977 M - -
Net income 2020 -357 M - -
Net Debt 2020 749 M - -
P/E ratio 2020 -14,4x
Yield 2020 0,39%
Capitalization 5 218 M 5 218 M -
EV / Sales 2019
EV / Sales 2020 2,00x
Nbr of Employees 55 000
Free-Float 33,6%
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Mean consensus HOLD
Number of Analysts 22
Average target price 55,93 $
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NameTitle
Mark Samuel Hoplamazian President, Chief Executive Officer & Director
Thomas J. Pritzker Executive Chairman
H. Charles Floyd Global President-Operations & Executive VP
Joan Bottarini Chief Financial Officer & Executive Vice President
Alex D. Zoghlin EVP & Global Head-Technology & Strategy
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