Hyatt Hotels Corporation Announces Plans for Hyatt Regency Riyadh
Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into an agreement with Mohammed A. Al Swailem Co. for Commercial Investment for a Hyatt Regency hotel in the Kingdom of Saudi Arabia. Hyatt Regency Riyadh marks the seventh Hyatt-branded hotel under development in Saudi Arabia, and the second Hyatt-branded hotel under development in Riyadh; the previously announced Park Hyatt Riyadh is expected to open in 2015. There is currently one Hyatt-branded hotel in Saudi Arabia, Park Hyatt Jeddah – Marina, Club and Spa, which opened in 2009.
Expected to open in the third quarter of 2013, Hyatt Regency Riyadh will offer 257 guestrooms, including 37 suites, which will range in size from 322 sq ft (30 sq m) to 2,475 sq ft (230 sq m). The hotel will also offer a lobby lounge, two restaurants, a Regency Club lounge, more than 5,900 sq ft (550 sq m) of ballroom and event space, and a number of small meeting rooms. Additional hotel amenities include a male spa with six treatment rooms, a 2,300 sq ft (220 sq m) male and female fitness center, and pool. The hotel is designed by Erga and ONG&ONG is designing the hotel?s interiors.
?Hyatt Regency Riyadh joins the expanding number of Hyatt-branded hotels under development in the Kingdom of Saudi Arabia,? said Peter Norman, Senior Vice President, Acquisitions and Development for Hyatt International ? Europe, Africa, and Middle East. ?Hyatt Regency Riyadh is the first Hyatt-branded hotel slated to open in the next three years in Saudi Arabia?s capital and largest city and we look forward to working with Al Swailem Investment Co. as we grow the number of Hyatt hotels throughout the country.?
?We are pleased to work with Hyatt on our first Hyatt-branded hotel in Saudi Arabia,? said Abdulaziz M. Al Swailem, President & CEO for Al Swailem Investment. ?We appreciate Hyatt?s commitment to providing authentic hospitality to its guests and are very happy to be working with Hyatt to introduce the Hyatt Regency brand to Riyadh.?
Located on Olaya Road in the Al Olaya district in the city of Riyadh, Hyatt Regency Riyadh will be a stand-alone building in close proximity to the city?s Central Business District, which hosts prominent landmarks including the Al Faisaliah Tower and the Kingdom Centre. Riyadh is a major convention and exhibition destination for government and corporate sectors, and the hotel will be conveniently located near the Riyadh International Convention and Exhibition Centre on King Abdullah Road.
?Our Hyatt Regency brand offers the business traveler convenient locations, spacious and well-equipped meeting facilities and authentic restaurants in a stylish and comfortable environment. We are proud to add one more Hyatt hotel to our expanding portfolio in the Kingdom of Saudi Arabia,? said Peter Fulton, Managing Director, Hyatt International, South West Asia.
In addition to 149 Hyatt Regency hotels open worldwide as of December 31, 2011, more than 30 previously announced Hyatt Regency hotels are under development around the world in China, India, Latin America, Mongolia, Russia, Switzerland, and the Middle East.