Hyatt Announces Plans for Hyatt Regency Lahore DHA
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CHICAGO--(BUSINESS WIRE)--Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into a franchise agreement with FP Global (Private) Limited for Hyatt Regency Lahore DHA, which will mark the first Hyatt-branded hotel in Pakistan and a significant step forward in Hyatt's plans to expand its brand portfolio in Southwest Asia. Situated within Defence Housing Authority Phase 6 (DHA-6), the property will be operated by Valor Hospitality Partners and is expected to open its doors in 2024.

"We look forward to collaborating with the FP Global (Private) Limited team and Valor Hospitality Partners to unveil the first Hyatt-branded hotel in Pakistan with Hyatt Regency Lahore DHA," said Sunjae Sharma, Managing Director, Southwest Asia, Hyatt India Consultancy Pvt Ltd. "We are confident that this hotel's location, style and service will be attractive for both business and leisure travelers alike, and we look forward to the introduction of the Hyatt brand to guests visiting the region."

Currently under renovation, the 94-guestroom property will feature a range of exquisite dining options with six food and beverage outlets including all-day dining venues, two specialty restaurants, a lobby lounge, the Regency Club, and The Market, the cafe-style option where guests can grab a snack anytime. Thoughtful amenities like separate male and female fitness centers and swimming pools will help guests rejuvenate and stay on track with their health schedules; while approximately 8,600 square feet (800 square meters) of flexible events and meeting space, including a ballroom, will make the hotel the go-to venue for any occasion.

"We are delighted to announce our first property in Lahore, Pakistan with Hyatt Regency Lahore DHA, and thrilled to collaborate on this project with Hyatt," said Julien Bergue, Co-Founder and Managing Partner, Valor Hospitality Partners Middle East & CIS. "Following our recent rapid expansion in the Middle East, this destination is a natural extension geographically, and with FP Global (Private) Limited as our reliable partners and our continuously growing collaboration with Hyatt, we are confident the hotel will offer outstanding experiences in a premium location, positioning it as a prominent addition to the hospitality sector of Lahore."

"We are honored to work alongside Hyatt to introduce the first Hyatt-branded hotel to Pakistan under the Hyatt Regency brand, and are confident that combining our premium hospitality expertise with Hyatt's international operating standards will enable us to deliver a truly spectacular experience to the numerous guests visiting Pakistan, as well as the local community in the city of Lahore," said Immad Ali Khan, CEO, FP Global (Private) Limited.

The hotel will be in close proximity to Allama Iqbal International Airport, making it an ideal destination for travelers looking for convenience. Not only will the hotel's location be prime for exploring the city's renowned food scene, but it will also provide an ideal base for travelers to take in the major attractions of one of Pakistan's most vibrant and culturally rich cities, including the Badshahi Mosque, Shalimar Gardens and Lahore Fort.

Additionally, Lahore's proximity to the capital city of Islamabad, along with convenient connectivity provided by Lahore Junction railway station, which is situated within a 30 minute drive from the hotel, will provide the perfect opportunity for guests to explore the different cultures and attractions that the region has to offer.

The term "Hyatt" is used for convenience in this release to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

About Hyatt Regency

The Hyatt Regency brand prides itself on making travel free from stress and filled with success. More than 220 conveniently located Hyatt Regency urban and resort locations in more than 45 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 ways 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.

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About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of September 30, 2022, the Company's portfolio included more than 1,200 hotels and all-inclusive properties in 72 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Residence Club®, Hyatt Place®, Hyatt House®, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Hyatt Centric®, and Caption by Hyatt; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt™, and JdV by Hyatt™; and the Inclusive Collection, including Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid®, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.

About Valor Hospitality Partners

Valor Hospitality Partners is a leading global full-service hotel management company, headquartered in Atlanta, GA, USA. With over 85 hotels in its portfolio across The Americas, UK, Africa and Middle East, Valor is now rapidly expanding further within the Middle East, CIS, and Indian Ocean regions. Working closely with owners and international hotel franchise partners, Valor creates value through shared operating platforms within key markets, cutting edge value creation and support with additional services such as, site selection, brand selection, financing solutions, conceptual design, project management, procurement, technical services, and asset management. For more information, visit valorhospitality.com or connect with Valor on Facebook and LinkedIn.

About FP Global (Private) Limited

FP Global (Private) Limited is a Pakistani-based company owned by entrepreneurs Pervaiz Iqbal Shahid, Muhammad Ather, Mirza Aurangzeb Baig and Immad Ali Khan, whose expertise and business ventures include development, project management consultancy and asset management.

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, risks associated with the acquisition of Apple Leisure Group, including successful integration of the Apple Leisure Group business; the duration and severity of the COVID-19 pandemic or any additional resurgence and the pace of recovery following the pandemic or any additional resurgence; the short and long-term effects of the COVID-19 pandemic, including on the demand for travel, transient and group business, and levels of consumer confidence; the impact of actions taken by governments, businesses, or individuals in response to the COVID-19 pandemic or any additional resurgence on global and regional economies, travel limitations or bans, and economic activity; the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic or any additional 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; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group 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; 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, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension 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, wages, and other 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 the COVID-19 pandemic, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and Unlimited Vacation Club paid membership 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 Reports on Form 10-Q, 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.

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Contacts

Rajyasree Sen
Hyatt
Rajyasree.sen@hyatt.com

Soujanya Das
Current Global
Sdas3@CurrentGlobal.com

Glennie Janssen
Hyatt
Glennie.janssen@hyatt.com
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