CHICAGO - Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with KL MIDTOWN Sdn. Bhd., a joint venture company by Hap Seng Consolidated Berhad (Hap Seng) and TTDI KL Metropolis Sdn. Bhd., to develop a new 450-room Hyatt Regency branded hotel in Kuala Lumpur. Set to be completed in 2024, the new hotel will mark the return of the Hyatt Regency brand to Kuala Lumpur.
For leisure and business travelers visiting the Malaysian capital, Hyatt Regency Kuala Lumpur will deliver energizing experiences and a stress-free environment that embodies the Hyatt Regency brand ethos. Guests will enjoy seamless, intuitive service alongside refreshing food and beverage concepts and flexible spaces suited for work, collaboration or relaxation.
'We are excited to be working with KL MIDTOWN Sdn. Bhd. on the development of Hyatt Regency Kuala Lumpur and to be bringing the Hyatt Regency brand back to the energetic capital city of Malaysia,' said David Udell, group president, Asia Pacific, Hyatt. 'This will be our second collaboration with Hap Seng in Malaysia after we recently announced our plans for the Hyatt Centric Kota Kinabalu. We are grateful for Hap Seng's continued trust and are delighted to be part of these very exciting milestones and new experiences in Malaysia.'
Hyatt Regency Kuala Lumpur will be a state-of-the-art property designed by internationally renowned architect Kengo Kuma. When completed, the hotel will offer four food and beverage concepts including two bars, a market cafe, and a Japanese restaurant. It will also feature an outdoor swimming pool, a fully equipped fitness center, and Regency Club - an exclusive lounge offering a relaxed environment to work, meet and socialize for club level guests. For meetings and events, the hotel will also include 21,528 square feet (2,000 square meters) of flexible space, including a 10,764 square foot (1,000 square meter) ballroom, making it the ideal setting for any occasion.
The hotel will be situated just north of the Malaysia International Trade and Exhibition Centre (MITEC), the third largest MICE venue in Southeast Asia and the largest trade and exhibition center in Malaysia. With a direct connection to MITEC, Hyatt Regency Kuala Lumpur will be easily accessible for business travelers who are visiting the meeting venue. The venue is located just five miles (eight kilometers) northwest of Kuala Lumpur's city center, and 37 miles (60 kilometers) from Kuala Lumpur International Airport.
'In addition to being a prominent hotel for us in Malaysia, the introduction of Hyatt Regency Kuala Lumpur will bring awareness to the Hyatt Regency brand in the wider region,' said Patrick Finn, senior vice president - real estate & development, Asia-Pacific for Hyatt. 'The new hotel is part of our strategy to grow Hyatt's brand presence in Malaysia, building upon the five hotels that currently operate in the region.'
'Hyatt Regency Kuala Lumpur will add to Hap Seng's hotel development efforts with Hyatt in Malaysia, complementing the recently announced Hyatt Centric Kota Kinabalu,' said Dato' Jorgen Bornhoft, chairman of Hap Seng Consolidated Berhad. 'We chose Hyatt for this project because of our excellent past experience working together, paired with the hotel company's established leadership reputation in the hospitality industry. We will work closely with Hyatt and Kengo Kuma to create a standout Hyatt Regency property that reflects all the elements that has made the brand a preferred choice for both business and leisure travelers over the years.'
For more information about Hyatt Regency hotels, please visit hyattregency.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.
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About Hyatt Regency
The Hyatt Regency brand prides itself on making travel free from stress and filled with success. More than 195 conveniently located Hyatt Regency urban and resort locations in more than 30 countries around the world serve as the go-to gathering space for every occasion - from efficient personalized, high-touch business meetings to energizing family vacations. The brand offers stress-free environments for seamless gatherings and empathetic service that anticipates guests' needs. Designed for productivity and peace of mind, Hyatt Regency hotels and resorts offer a full range of services and amenities, including the space to work, engage or relax; notable culinary experiences; technology-enabled platforms to collaborate; and expert meeting and event planners who can take care of every detail. For more information, please visit hyattregency.com. Follow @HyattRegency on Facebook, Twitter and Instagram, and tag photos with #HyattRegency.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 20 premier brands. As of September 30, 2019, the Company's portfolio included more than?875?properties in over 60 countries across six continents. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top colleagues, build relationships with guests, and create value for shareholders. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences, vacation ownership properties, and fitness and spa locations, under brands including?Park Hyatt,?Miraval,?Grand Hyatt,?Alila,?Andaz,?The Unbound Collection by Hyatt,?Destination,?Hyatt Regency,?Hyatt,?Hyatt Ziva,?Hyatt Zilara,?Thompson Hotels,?Hyatt Centric,?Caption by Hyatt, Joie de Vivre, Hyatt House,?Hyatt Place,?tommie,?Hyatt Residence Club?and?Exhale?brand names, and operates the World of Hyatt?loyalty program that provides distinct benefits and exclusive experiences to its valued members.?For more information, please visit?www.hyatt.com.
About Hap Seng
Hap Seng Consolidated Berhad ('Hap Seng') is a public company listed on the Main Market of Bursa Malaysia Securities Berhad. In 2016, Hap Seng was added to the FBM KLCI main index which tracks the performance of the top 30 listed companies in Malaysia by market capitalization. Comprising six core business activities, namely plantations, property investment & development, credit financing, automotive, trading and building materials, Hap Seng group is progressive and forward-looking. Underpinned by emphasis on value creation, operational excellence and sustainability, Hap Seng has consistently delivered value to its stakeholders.
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, outlook, occupancy, ADR and growth trends, market share, the number of properties we expect to open in the future, our expected adjusted SG&A expense, our estimated comparable system-wide RevPAR growth, our estimated Adjusted EBITDA growth, our expected net rooms growth, maintenance and enhancement to existing properties capital expenditures, investments in new properties capital expenditures, depreciation and amortization expense and interest expense estimates, 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. 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Hyatt - Asia Pacific
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