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MarketScreener Homepage  >  Equities  >  Nyse  >  Hyatt Hotels Corporation    H

HYATT HOTELS CORPORATION

(H)
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Hyatt Hotels : Announces Plans for Andaz Lisbon; New luxury lifestyle hotel is the second planned hotel in Lisbon and marks the continued growth of the Andaz brand in key European destinations

10/20/2020 | 08:33am EST

CHICAGO - Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Feuring Hotel Lissabon GmbH & Co. KG for the first Andaz hotel in Lisbon. Expected to open in 2024, Andaz Lisbon will offer guests an exciting new luxury lifestyle hotel in the Portuguese capital - named one of the world's best destinations in 2019 - and it will represent a key milestone in Hyatt's continued brand growth in Southern Europe. Andaz Lisbon is set to become the second Hyatt-branded hotel in Lisbon following the planned opening of Hyatt Regency Lisbon in 2022.

Located in the center of Lisbon's bustling Baixa district and situated along the main pedestrian road, Rua Augusta, the hotel will be comprised of five separate buildings, including the former offices of one of the major banks in Portugal, Banco Portugues de Investimento (BPI). This central building of the hotel will offer 169 guestrooms, with the surrounding four satellite buildings of the hotel offering guests various private suites to choose from. This unique layout will allow guests to fully embrace the locale and experience authentic regional elements of Lisbon that stimulate the senses.

With the exciting coastal city of Lisbon as the backdrop, the hotel will deliver a stay experience that encourages curious travelers to explore the historic center, magnificent plazas and the riverfront, as well as the vibrant neighborhoods of Bairro Alto and Chiado. Located near major shopping streets and restaurants offering Lisbon's world-famous cuisine, guests will be able to enjoy the sights, sounds and tastes the city has to offer.

'As we continue to prioritize thoughtful growth in places that matter most to our guests, World of Hyatt members and customers, we look forward to introducing the Andaz brand to Lisbon and expanding our brand footprint in Portugal,' said Nuno Galvao Pinto, regional vice president development Europe, Hyatt. 'We are pleased to be collaborating with Feuring to expand the Andaz brand across Europe and meet a much desired demand for luxury lifestyle accommodations in Lisbon.'

Andaz Lisbon will incorporate the rich culture and heritage of Lisbon through locally inspired architecture and design, led by the architects Andreas Morschel and Pedro Reis as well as Bastir Interior Design. Guests will be able to enjoy cocktails and local dishes at the hotel's rooftop restaurant, bar, and Andaz Lounge, and relax and rejuvenate at the spa and fitness center. The signature Andaz Studio spaces will offer stylish and vibrant settings for corporate and social events.

'Having previously worked with Hyatt to bring the Hyatt Centric brand to Milan and Venice, and the Hyatt Place brand to Frankfurt, it is wonderful to have the opportunity to introduce another Hyatt brand in a new destination,' said Matthias Lowin, managing director of Feuring. 'With its distinctive local culture and vibrant history, Lisbon is the ideal location for the Andaz brand and we know that travelers visiting Andaz Lisbon will have an unforgettable experience.'

Andaz Lisbon will mark continued growth for the Andaz brand in Europe and is set to become the sixth Andaz property in the region. The hotel joins Andaz Munich Schwabinger Tor, Andaz Vienna Am Belvedere, Andaz London Liverpool Street, Andaz Amsterdam Prinsengracht and Andaz Prague, which is expected to open in 2022.

For more information about the Andaz brand, please visit: https://www.hyatt.com/brands/andaz.

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 Andaz

Global in scale while local in perspective, the Andaz brand of luxury lifestyle hotels weaves the sights, sounds, and tastes of each property's surroundings for a distinctively local experience. Through thoughtful, unscripted service tailored for travelers, Andaz hotels enable guests to go beyond the familiar and satiate their curiosity while immersing them in the spirit of the eclectic culture around them. Twenty-two Andaz hotels are currently open: Andaz 5th Avenue and Andaz Wall Street in New York, Andaz San Diego, Andaz West Hollywood, Andaz Napa, Andaz Scottsdale Resort & Bungalows, Andaz Savannah, Andaz Maui at Wailea Resort, Andaz Ottawa ByWard Market, Andaz Mayakoba Resort Riviera Maya, Andaz Costa Rica Resort at Peninsula Papagayo, Andaz London Liverpool Street, Andaz Amsterdam Prinsengracht, Andaz Munich Schwabinger Tor, Andaz Vienna Am Belvedere, Andaz Singapore, Andaz Delhi, Andaz Xintiandi in Shanghai, Andaz Xiamen, Andaz Tokyo Toranomon Hills, Andaz Seoul Gangnam, Andaz Capital Gate Abu Dhabi, and Andaz Dubai The Palm. For more information, please visit andaz.com. Follow @Andaz on Facebook, Twitter and Instagram, and tag photos with #WhenInAndaz.

About Feuring

The FEURING Group was founded in 1959 with the aim of developing modern and contemporary hotels. To date, more than 450 projects and project developments have been managed for investors and hotel chains. This includes resorts and city hotels, mainly in Europe. The Mainz-based company is owner-managed in the second generation. Feuring's range of services extends from classic hotel and transaction advice to project development to operational and strategic hotel asset management. Feuring covers the entire value chain of the hotel industry and not only has a very wide range of specialist knowledge, but also numerous, long-standing connections in the hotel and real estate industry. Projects are processed individually and tailor-made with a focus on sustainable profitability.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company offering 21 premier brands. As of June 30, 2020, the Company's portfolio included more than 900 hotel, all-inclusive, and wellness resort properties in 65 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 employees, 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, including under the 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, UrCove, 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.

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. 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, but are not limited to, the short- and longer-term effects of the COVID-19 pandemic, including on the demand for travel, transient and group business, and levels of consumer confidence; actions that governments, businesses, and individuals take in response to the COVID-19 pandemic or any future resurgence, including limiting or banning travel; the impact of the COVID-19 pandemic, and actions taken in response to the COVID-19 pandemic or any future resurgence, on global and regional economies, travel, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretionary spending; the ability of third-party owners, franchisees or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic; the pace of recovery following the COVID-19 pandemic or any future resurgence; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; 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; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geo-political conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters such as earthquakes, tsunamis, tornadoes, hurricanes, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases or fear of such outbreaks, such as the COVID-19 pandemic; our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans and common stock repurchase program and quarterly dividend, including a reduction in or elimination of repurchase activity or dividend payments; 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; relationships with colleagues and labor unions and changes in labor laws; 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; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); 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; declines in the value of our real estate assets; unforeseen terminations of our management or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates and operating costs; foreign exchange rate fluctuations or currency restructurings; lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; 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; outcomes of legal or administrative proceedings; violations of regulations or laws related to our franchising business; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission ('SEC'), including our annual report on Form 10-K and our Quarterly Report on Form 10-Q filed on May 7, 2020, which filings are available from the SEC. 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 CONTACTS:

Sin Rylander

Hyatt

+1 312 780 5797

sian.rylander@hyatt.com

Simone Loretan

Hyatt - Europe, Africa and the Middle East

+41 44 279 1226

simone.loretan@hyatt.com

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 2 098 M - -
Net income 2020 -587 M - -
Net Debt 2020 1 572 M - -
P/E ratio 2020 -12,5x
Yield 2020 0,27%
Capitalization 7 420 M 7 420 M -
EV / Sales 2020 4,29x
EV / Sales 2021 2,70x
Nbr of Employees 55 000
Free-Float 36,9%
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Number of Analysts 21
Average target price 56,93 $
Last Close Price 73,34 $
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Spread / Average Target -22,4%
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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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