HYATT HOTELS CORPORATION Item 7.01. Regulation FD Disclosure.
On
As a result of the amended Agreement, the Company is increasing its net rooms growth outlook for 2021 to approximately 6%, up from the prior expectation of greater than 5%.
In addition, on
• on June 4, 2021 , a Hyatt affiliate sold the 490-room Hyatt Regency Lost
Pines Resort and Spa near Austin, Texas for approximately $275 million to
an unrelated third party and entered into a long-term management
agreement for the property upon sale. The owner anticipates enhancing and
expanding this unique resort destination located on 405 acres along the
banks of the Colorado River .
• on June 3, 2021 , a Hyatt affiliate acquired the 59-room Ventana Big Sur ,
an Alila Resort , located in Big Sur, California for approximately
$148 million , securing the Company's long-term brand presence in a highly
sought-after resort destination. The resort, situated on 162 acres in one
of the world's premier leisure destinations, also includes 63 distinctive
camping areas and 15 tent cabins and is one of three world-class Alila
resorts operating in California . The resort is well-positioned to be
considered as part of Hyatt's capital strategy and Hyatt intends to turn
to evaluating the sale of this asset while retaining a long-term
management agreement.
With the completion of both asset transactions at attractive values, Hyatt
remains on track to realize net proceeds from the sale of real estate of
approximately
The Company's outlook is based on a number of assumptions that are subject to change, many of which are outside the control of the Company. If actual results vary from these assumptions, the Company's expectations may change. There can be no assurance that the Company will achieve these results.
The full text of the press release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
The information furnished under Item 7.01 in this Form 8-K shall not be deemed
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), or otherwise subject to the liabilities of that
section and shall not be deemed incorporated by reference in any filing made by
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Document Description 99.1 Hyatt Hotels Corporation Press Release, datedJune 8, 2021 (furnished pursuant to Item 7.01) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) Forward-Looking Statements
Forward-Looking Statements in this Current Report on Form 8-K, which are not
historical facts, are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements include, but
are not limited to, statements related to the Company's net rooms growth
outlook, the amount by which the Company intends to reduce its real estate asset
base and the anticipated timeframe for such asset dispositions, 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 risks discussed in the
Company's filings with the
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