09/30/2024 | Press release | Distributed by Public on 09/30/2024 07:05
Chicago (September 30, 2024) -Hyatt (NYSE: H) proudly announces plans for the debut of two Hyatt-branded hotels in Jaumur, one of Magna's destinations, located on the coast of Gulf of Aqaba. Park Hyatt Jaumur and Andaz Jaumur Marina will mark a significant milestone in the expansion of Hyatt's brand presence within the Kingdom of Saudi Arabia and solidify its strategic collaboration with NEOM, a beacon of future living and sustainable luxury.
Jaumur offers a visionary blend of land and sea experiences, setting a new standard for coastal luxury living for residents and guests. This exclusive destination features a state-of-the-art 300-berth marina with a gravity-defying cantilever rising above the largest of super yachts, a sculptural landmark that serves as the perfect base for marina attractions. The marina promenade will be a place alive with entertainment, leisure, and cultural experiences alongside the deep-sea diving research centre, dedicated to deep-sea exploration.
The brand-new Park Hyatt Jaumur and Andaz Jaumur Marina, set to open in 2027, will offer a combination of 350 luxurious rooms and suites, offering exceptional experiences for guests.
Park Hyatt Jaumur will sit at the community's vibrant epicenter, overlooking the bustling marina. Designed as an oasis of relaxation with 125 rooms, Park Hyatt Jaumur will serve as a home-away-from-home that seamlessly blends the very best entertainment, leisure, and cultural experiences, enabling guests to immerse themselves in unmatched offerings.
Andaz Jaumur Marina, with 225 modern rooms and suites, will be a celebration of art and creativity, capturing the very soul of Jaumur. The hotel will inspire innovation while offering an eclectic allure, making it a luxury lifestyle destination for those seeking an escape from the ordinary. With a focus on personalized experiences, Andaz Jaumur Marina will envelop guests in its unique charm, with each meticulous detail contributing to a signature experience.
Jeremy Lester, Executive Director, Magna, said, "Jaumur is a masterpiece marina community where innovation, learning, and luxury convene. Park Hyatt Jaumur and Andaz Jaumur Marina will embody our desire to redefine coastal luxury for a new generation, grounded in awe-inspiring design and cutting-edge technology that will integrate with the stunning natural environment, these hotels will cater to our visitors' every need."
Javier Águila, group president, Europe, Middle East and Africa, Hyatt, said, "We are delighted to bring the Park Hyatt and Andaz brands to Jaumur, part of NEOM's regional sustainable tourism portfolio, and further enhance the tourism landscape in NEOM. The Kingdom of Saudi Arabia is a key market in Hyatt's growth strategy in the Middle East, and these upcoming properties in NEOM reflect our dedication to expanding our brand footprint."
Serving to anchor Jaumur as a destination, Park Hyatt Jaumur and Andaz Jaumur Marina are being designed to meet the highest standards of future livability and active lifestyles. Guests will be able to immerse themselves in a unique fusion of land and sea experiences - from hiking, cycling, and water sports hubs for adventure seekers to luxurious beach, art, and yacht clubs, for those seeking relaxation. These offerings provide guests with unparalleled access to one-of-a-kind experiences amid Jaumur's vibrant community.
Chris Newman, Executive Director, NEOM Hotel Division said, "At NEOM, we are excited to work with Hyatt in bringing the distinguished Park Hyatt and the vibrant Andaz brands to life in Jaumur. This collaboration represents a seamless alignment of our shared vision for crafting bespoke luxury experiences that resonate with the spirit of innovation and excellence. We look forward to seeing these iconic hotels elevate Jaumur into a world-class destination that truly reflects the future of the hotel industry."
Both properties will participate in the World of Hyatt, one of the fastest-growing loyalty programmes, offering over 48 million members the opportunity to enjoy a variety of exclusive benefits, including room upgrades, free nights, late checkout, bonus points, and more.
For information on the Hyatt brand portfolio, please visit www.hyatt.com.
For information on Jaumur NEOM, please visit https://www.neom.com/en-us/regions/jaumur
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 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 June 30, 2024, the Company's portfolio included more than 1,350 hotels and all-inclusive properties in 78 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Vacation Club®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® 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 Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith™, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.
About NEOM
NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory - a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.
NEOM will include hyperconnected, cognitive cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate, and commercialize new technologies and enterprises in groundbreaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity.
For further information email [email protected] or visit www.neom.com and www.neom.com/en-us/newsroom.
About Magna
Magna is NEOM's new luxury coastal region comprising twelve destinations along 120 kilometers of exquisite Gulf of Aqaba coastline. Magna will redefine sustainable luxury living and hospitality by seamlessly blending architectural masterpieces with technological innovations amidst an awe-inspiring landscape.
Each distinctive destination - Epicon, Norlana, Siranna, Utamo, Aquellum, Leyja, Zardun, Xaynor, Elanan, Gidori, Jaumur and Treyam, will offer unique human experiences like nothing on Earth. It will be a place where innovators and creators can foster original thinking in an effortlessly chic setting.
Magna's 15 luxury hotels, 1,600 hotel rooms, suites, and apartments, along with over 2,500 premium residences will have sustainability embedded at every stage, and align with NEOM's commitment to conservation and innovation, embodied by 95% of the land being set aside for nature.
For more information, please visit our website
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, general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and 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 geopolitical 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, weather and climate-related events, such as earthquakes, tsunamis, tornadoes, hurricanes, droughts, 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 owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential 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 our strategy to expand our management and hotels services and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; our ability to maintain effective internal control over financial reporting and disclosure controls and procedures; declines in the value of our real estate assets; unforeseen terminations of our management and hotels services 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; risks associated with the introduction of new brand concepts, including 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, 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; and violations of regulations or laws related to our franchising business and licensing businesses and our international operations; 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.
MEDIA CONTACT
Chloe Duncan
Hyatt
[email protected]