The former Verdanza Hotel to join the Hyatt
portfolio in 2025, marking the introduction of the Hyatt Centric
brand in Puerto Rico
Hyatt Hotels Corporation (NYSE: H) in collaboration with
Interlink and Vivo Beach Club today announced plans for the first
Hyatt Centric branded hotel in Puerto Rico. Hyatt Centric San Juan
Isla Verde will be located in the buzzy Isla Verde neighborhood,
one block away from Isla Verde Beach and walking distance to
restaurants, shopping, historical landmarks and nightlife. The
hotel is currently undergoing an ambitious $25 million dollar
enhancement project to renovate all guestrooms, suites and public
spaces, which will be inspired by Puerto Rico’s enchanted
landscape, embracing a fusion of the island’s captivating land and
sea elements.
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King Cabana View Guestroom (Photo:
Business Wire)
"We’re excited to work with Interlink and Vivo Beach Club to
bring the Hyatt Centric lifestyle brand to Puerto Rico and expand
Hyatt’s brand presence in a thriving market,” said Camilo Bolaños,
senior vice president of development, Latin America & the
Caribbean, Hyatt. “Hyatt Centric San Juan Isla Verde will be
situated in the heart of the Isla Verde neighborhood, allowing
guests to truly experience the locale but also discover other
nearby beaches and attractions that spark curiosity and
connection."
Once open, Hyatt Centric San Juan Isla Verde will offer 223
guestrooms in a prime location less than one block away from the
award-winning Isla Verde Beach. The hotel will be home to a
communal space acting as the social center of the hotel activated
by a signature restaurant & bar, an open-air beer garden, and a
coffee shop boasting local flare. The hotel will also offer a
modern fitness center, over 16,000 sq. ft. of meeting space, a
resort-style pool deck surrounded by tropical landscape, and a
locally inspired restaurant and pool bar. To complement the local
lifestyle experience, guests will be granted complimentary access
to the facilities of Vivo Beach Club, an oceanfront private beach
club designed for people of all ages featuring a free form pool, 3
restaurants, 4 bars, an outdoor concert stage with seating capacity
for 3,500 people, 12,000 sq. ft. of meeting facilities, and the
award-winning Ocean Lab Brewing Co. micro-brewery.
"We are filled with pride to collaborate with Hyatt to bring the
Hyatt Centric lifestyle brand to the renowned Isla Verde
neighborhood. Puerto Rico has a lot to offer, and soon, guests and
World of Hyatt members will be able to experience a new hotel that
serves as an authentic home base to explore the magical island of
Puerto Rico," said Federico J. Sánchez Ortiz, President and Chief
Executive Officer of Interlink and Luis and Matías Fernández,
co-owners of Vivo Beach Club.
“Today's announcement that we will soon have a Hyatt Centric
hotel in Isla Verde demonstrates once again the current success and
potential of Puerto Rico’s tourism sector. Our beautiful island has
become a top-of-mind destination for tourists looking to have an
unforgettable experience in the heart of the Caribbean. I welcome
Hyatt Centric San Juan Isla Verde and wish the team the best in
this new milestone in Puerto Rico and thank Interlink and Vivo
Beach Club for their contribution to Puerto Rico’s sustainable
economic development,” said Pedro R. Pierluisi, Governor of Puerto
Rico.
"We are excited to extend a warm welcome to the first Hyatt
Centric branded hotel in the vibrant Isla Verde tourist zone,
providing both business and leisure travelers a new hotel option.
This forthcoming addition emphasizes our hospitality industry
commitment to improving our offerings and supporting the ongoing
growth of our tourism sector," said Carlos Mercado, Executive
Director of the Puerto Rico Tourism Company.
Hyatt Centric San Juan Isla Verde will be managed by Highgate
Hotels, an industry-leading hotel management firm, with a diverse
portfolio of hotels across North America, the Caribbean, Latin
America, and Europe, including three other hotels in Puerto
Rico.
Hyatt Centric San Juan Isla Verde will mark the sixth Hyatt
hotel in Puerto Rico following Hyatt Place & Hyatt House San
Juan, Hyatt Place Bayamon, Hyatt Place Manati and Hyatt Regency
Grand Reserve Puerto Rico.
To learn more about the Hyatt Centric brand, please visit
https://www.hyatt.com/development/ourbrands/hyattcentric.
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 March 31, 2024, the
Company's portfolio included more than 1,300 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 Hyatt Centric
Hyatt Centric is a brand of full-service lifestyle hotels
located in prime destinations. Created to connect guests to the
heart of the action, Hyatt Centric hotels are thoughtfully designed
to enable exploration and discovery so they never miss a moment of
adventure. Each hotel offers social spaces to connect with others
in the lobby, meanwhile the bar and restaurant are local hot spots
where great conversations, locally inspired food and signature
cocktails can be enjoyed. Streamlined modern rooms focus on
delivering everything guests want and nothing they don’t. A
passionately engaged team is there to provide local expertise on
the best food, nightlife and activities the destination has to
offer. For more information, please visit hyattcentric.com. Follow
@HyattCentric on Facebook and Instagram, and tag photos with
#HyattCentric.
About Interlink
Founded in 1977, Interlink is an integrated real estate company
with more than four decades of experience in Puerto Rico and the
Caribbean. Its main focus is development, construction, and asset
management; within the residential, commercial, and hospitality
sectors. Interlink has a proven track record that includes an
extensive portfolio of world-class hospitality developments and
renowned construction projects, including Sheraton Puerto Rico
Resort & Casino Metro, The St. Regis Bahia Beach Resort, AC
Hotel San Juan Condado, Hotel El Convento, and the Residence Inn by
Marriott Isla Verde. For more information, please visit:
www.interlinkpr.com.
About Vivo Beach Club
Established in 2017, the VIVO Beach Club Complex contains a
stunning variety of “island life” experiences and beach front
entertainment. It is a lively oceanfront destination designed for
people of all ages featuring an outdoor beach club and pool, unique
restaurants and bars, a convention center, shops, music venues, and
a full-scale brewery. It has established itself as one of the best
day and night clubs in the metropolitan area, as well as the top
venue for private parties, large celebrations, festivals, concerts
and corporate events. It is located in one of the top ranked
beaches in the world and offers a modern atmosphere with great
food, drinks, shops, music and ocean views. All perfect ingredients
for a great Caribbean experience.
Located inside the VIVO Beach Club complex is Ocean Lab Brewing
Co., the largest craft beer manufacturer in Puerto Rico offering a
large variety of beer styles and activities. Ocean Lab Brewing
recently received the award of the Best Tap Room in the US.
About Highgate
Highgate is a leading global real estate investment and
hospitality management company widely recognized as an innovator in
the industry. Highgate is the dominant player in major U.S. gateway
cities including New York, Boston, Miami, San Francisco and
Honolulu, with a growing footprint in Europe, the Caribbean and
Latin America. The hospitality forward company provides expert
guidance through all stages of the property cycle, from planning
and development through recapitalization or disposition. Highgate
has a proven record of developing its diverse portfolio of bespoke
lifestyle hotel brands, legacy brands, and independent hotels and
resorts with contemporary programming and digital acumen. The
company utilizes industry-leading revenue management tools that
efficiently identify and predict evolving market dynamics to drive
outperformance and maximize asset value. With an executive team
consisting of some of the most experienced hotel management
leaders, the company is a trusted partner for top ownership groups
and major hotel brands. Highgate maintains corporate offices in New
York, Dallas, Los Angeles, Miami, Seattle, Waikiki, London and
Lisbon. www.highgate.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, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240520446579/en/
Bianca Flores Hyatt bianca.flores@hyatt.com
Nelly Cruz nellycruzpr@yahoo.com
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