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Delayed Nyse  -  04:00:02 2023-05-26 pm EDT
110.22 USD   +0.54%
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Hyatt Hotels Corporation : Hyatt Regency Istanbul Expected to Open in Istanbul in January 2014

11/07/2012 | 05:05pm EDT

Hyatt Regency Istanbul Ataköy will be the third Hyatt-branded hotel in Istanbul

Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has signed an agreement for a Hyatt Regency hotel in Istanbul with Bosphorus Otelcilik ve Yatirim Ltd. The hotel, which will open in January 2014, will be the third Hyatt-branded hotel in Istanbul, joining Grand Hyatt Istanbul and Park Hyatt Istanbul Maçka Palas.

Hyatt Regency Istanbul Atakoy is expected to open in 2014. (c) Apeas

Hyatt Regency Istanbul Atakoy is expected to open in 2014. (c) Apeas

Hyatt Regency Istanbul Ataköy will offer 310 guestrooms, including 30 suites, with rooms ranging in size from 38 sq m to 180 sq m. The hotel will feature more than 1,700 sq m of meeting and event space, including a 1,000 sq m ballroom, two restaurants, a rooftop bar, outdoor and indoor pools, a fitness center, and a spa. GA Design International will be responsible for the interior design of the hotel. Located in western Istanbul on Rauf Orbay Street, Hyatt Regency Istanbul Ataköy will be a short drive from Atatürk International Airport and will be 10 km from Istanbul's historic Old Town, which is home to destinations such as the Blue Mosque, Hagia Sofia and the Grand Bazaar.

Stating that Istanbul had established itself as an important commercial hub and a major tourism destination in southeastern Europe, Peter Norman, Senior Vice President, Acquisitions and Development for Hyatt International - Europe, Africa, and Middle East, said, "The announcement of Hyatt Regency Istanbul further underscores our commitment to building preference by expanding the number of Hyatt-branded hotels throughout Europe."

Stating that they are proud to work with Hyatt to bring the Hyatt Regency brand to Istanbul, Ilhan Mürsel, Managing Director, Bosphorus Hospitality & Investment said, "We believe Hyatt Regency Istanbul Ataköy's extensive meeting and event space and ideal location near Atatürk International Airport will be appealing to large groups and business and leisure travelers alike."

In addition to 146 Hyatt Regency hotels open worldwide as of September 30, 2012, more than 30 previously announced Hyatt Regency hotels are under development around the world in China, India, Latin America, Europe, the Middle East, and the United States.

For more information, please visit hyattdevelopment.com.

About Hyatt Regency

Hyatt Regency offers a full range of services and facilities tailored to serve the needs of meeting planners, business travelers and leisure guests. Properties generally range in size from 180 to over 2,000 rooms and are conveniently located in urban, suburban, airport, convention and resort destinations around the world. Hyatt Regency convention hotels feature spacious meeting and conference facilities designed to provide a productive environment. Hyatt Regency hotels in resort locations cater to couples seeking a getaway, families enjoying a vacation together and corporate groups seeking a functional and relaxed atmosphere in which to conduct business and meetings. For more information, please visit www.hyattregency.com.

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 Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Residence ClubTM. As of September 30, 2012, the Company's worldwide portfolio consisted of 496 properties in 45 countries. For more information, please visit www.hyatt.com.

About Bosphorus Hospitality & Investment

Founded in 2009, Bosphorus Hospitality & Investment has conducted significant operations in the tourism industry, and has obtained an increasing rate of growth by the leadership of its founders Tar?k Celalo?ullar?, a Meskhetian Turk, and his Partner Rostislav Gurevich, a Russian citizen. The company's first investment was in Ataköy in 2009, and signed an agreement for a Hyatt Regency hotel in Istanbul, which is expected to open in 2014. With a corporate objective of "building 10 hotels in 10 years," Bosphorus Hospitality & Investment has opened two hotels, in Tashkent, Uzbekistan and Denizli, Turkey, and the company continues to develop hotels in Oskemen, Kazakhstan and Samsun, Turkey, which are both expected to open in June 2013. The company also has hotel projects underway in Almaty, Kazakhstan and, Krasnodar, Russia, which will be open by 2014. Tar?k Celalo?ullar? and Rostislav Gurevich continue to make investments in different sectors within Turkey, Kazakhstan and Russia.

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, occupancy and ADR trends, market share, the number of properties we expect to open in the future, our expected adjusted SG&A expense, 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. 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; limited visibility with respect to short and medium-term group bookings; the impact of hotel renovations; our ability to successfully execute and implement our organizational realignment and the costs associated with such organizational realignment; our ability to successfully execute and implement our common stock repurchase program; 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=50470292&lang=en

Hyatt Hotels Corporation
Siân Martin, +1 312 780 5797
Malene Rydahl, +33 1 53 45 2838

© Business Wire 2012
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Financials (USD)
Sales 2023 6 655 M - -
Net income 2023 290 M - -
Net Debt 2023 1 928 M - -
P/E ratio 2023 40,5x
Yield 2023 0,33%
Capitalization 11 640 M 11 640 M -
EV / Sales 2023 2,04x
EV / Sales 2024 1,91x
Nbr of Employees 50 000
Free-Float 43,8%
Duration : Period :
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Technical analysis trends HYATT HOTELS CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 110,22 $
Average target price 127,74 $
Spread / Average Target 15,9%
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Managers and Directors
Mark Samuel Hoplamazian President, Chief Executive Officer & Director
Joan Bottarini Executive VP, Chief Financial & Accounting Officer
Thomas J. Pritzker Executive Chairman
Eben Hewitt Chief Information Officer
H. Charles Floyd Global President-Operations & Executive VP
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