Wharf : Park Hyatt to Crown Luxury Collection in Changsha Icon IFS

For Immediate Release

Park Hyatt to Crown Luxury Collection in Changsha Icon IFS

September 13th, 2021, Hong Kong -The Wharf (Holdings) Limited (stock code: 0004) todayannounces joining hand with Hyatt Hotels Corporation ("Hyatt") to open the luxury Park Hyatt hotel at Changsha International Finance Square ("IFS"), the icon of Hunan province capital Changsha since 2018. Both parties will complement well with each other leveraging the respective strengths and experience in providing guests with sophisticated and unparalleled service.

"We are excited to bring the Park Hyatt brand to Changsha IFS. 'Building for Tomorrow', we have already invested over RMB20 billion (over USD3 billion) and introduced the world's top luxury brands to make Changsha IFS a sparkling diamond in Central China. Park Hyatt will be in excellent company with current and new coveted brands including the latest addition of Apple Store last week," said Mr Stephen Ng, Chairman and Managing Director of The Wharf Group. "We are confident that Park Hyatt will be a great addition to Changsha IFS and to the city of Changsha."

"We are delighted to work with Wharf to introduce the legendary Park Hyatt luxury brand to Changsha," said Stephen Ho, president of Growth and Operations, Asia Pacific, Hyatt. "We look forward to this inaugural collaboration with a high-quality, experienced partner who shares our vision to bring guests an immersive luxury experience in this vibrant city. The project further emphasizes Hyatt's commitment to expand its luxury and lifestyle portfolio in Greater China and will enable us to create purposeful long-term growth in the region."

Occupying a large prominent site in the very heart of the city, Changsha IFS is a mixed-usedevelopment comprising the number one shopping mall in Hunan for luxury and the latest trends, as well as the tallest tower and the best office address in the entire Province. Completion of Tower 2 will add the most prestigious high rise apartments in the City and Park Hyatt as the second, market leading luxury sky hotel.

Park Hyatt Changsha is expected to open in 2023 at Changsha IFS Tower 2, with around230 guestrooms between levels 54 and 63. Thehotel's design is inspired by a twist of contemporary art and luxury fashion design. It will offer world-class culinary, quiet retreatand wellness experiences as well as inspiring spaces for meetings and events in the midst of this energetic city.

Custom-designed to combine sophistication with understated luxury, the Park Hyatt brand provides discerning global travellers with a refined home-away-from-home experience.

Atop two subway lines and located in a 30-minute and 40-minute drive from the high-speed railway station and Changsha Huanghua International Airport respectively, CSIFS has become a one-stop destination for shopping, dining, entertainment, lifestyle and culture among both locals and tourists.

One of the world's fastest-growing cities and one of China's new first-tier cities, Changsha is an important commercial, entertainment and innovation centre in the Yangtze River Delta Economic Belt. This energetic city has also become a popular tourist destination, especially for young people, famous for its dynamism, food and rich cultural and entertainment attractions.

About Wharf (Holdings) Limited

Founded in 1886 as the 17th company registered in Hong Kong, The Wharf (Holdings) Limited (Stock Code: 0004) is a premier company with strong connection to the history of Hong Kong. As one of the 30 constituent stocks in the original Hang Seng Index from the 1960's, Wharf is backed by a long-standing mission of "Building for Tomorrow" and a proven track record in retail management and execution.

After spinning off Wharf Real Estate Investment Company Limited as a separately-listed company (Stock Code: 1997) in November 2017, the Group's businesses currently comprise Investment Properties and Hotels in mainland China as well as Development Properties in both Hong Kong and the Mainland. Other businesses include Logistics Infrastructure through Modern Terminals and Hong Kong Air Cargo Terminals.

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