Expansions & Renovations

Hyatt Regency McCormick Place in Chicago Launches Multi-million Dollar Expansion and Renovation

Owners, Metropolitan Pier and Exposition Authority, to Invest $110 Million in the Project to be Completed in 3 Phases

Chicago, IL - January 17, 2011 - Hyatt Regency McCormick Place announced today that the first phase of a multi-million dollar expansion and renovation has begun. The hotel’s owner, Metropolitan Pier and Exposition Authority (MPEA), will be investing approximately $110 million in the construction and furnishings of the hotel, which will be completed in phases.

Phase One will begin with the start of construction of the new tower. The tower will offer 460 new rooms including 12 suites and 2 premium suites. The new tower is expected to be completed in mid-2013.

Phase Two of the project begins in spring of 2012 with the redesign of Hyatt Regency McCormick Place’s coffee shop, Daily Grind, offering assorted fresh food selections made daily. An expanded seating area will be created adjacent to Daily Grind, complete with WiFi internet access, to allow for work space or relaxing.

Phase Three begins in late 2012 with the expansion and renovation of the main lobby, followed by the renovation of the existing 800 guest room tower in January, 2013. The redesign and renovation of the 25,000 square foot Hyatt Conference Center will include a redevelopment of the 4,000 square foot Prairie Center into a more flexible meeting and catering space, along with the addition of 3 new boardrooms and a new business center.

Phase Three will also feature the expansion of Shor, Hyatt Regency McCormick Place’s fine dining restaurant. This will include additional seating capacity as well as a larger private dining room.

“Hyatt Regency McCormick Place plays very important role in Chicago’s top meetings and conventions every year given our proximity to one of the nation’s largest convention venues,” said Tom Pagels, general manager, Hyatt Regency McCormick Place. “We are thrilled to see this project commence which will help attract even more convention business to Chicago since the opening of the McCormick Place West building.”

“We are pleased to move forward with the expansion of Hyatt Regency McCormick Place, which will allow us to provide our customers with enhanced on-site convenience and the first-rate service expected from the country’s premier convention center,” said Jim Reilly, MPEA Trustee.

About Hyatt Regency McCormick Place
Hyatt Regency McCormick Place, 2233 S. Martin Luther King Drive, Chicago, holds the prestigious honor of AAA Four Diamond status. AAA describes Four Diamond properties as accommodations that are “progressively more refined and stylish,” and maintain a “high degree of attention to detail.” Hyatt Regency McCormick Place currently has 800 guest rooms, 43,000 square feet of function space, and a 12,000 square foot Grand Ballroom. The hotel features Daily Grind coffee shop, three restaurants – Forno, an Italian Trattoria, Shor, a Chicago grille, and M/X, a sleek, high-energy lounge with small plate dining, a lobby bar, a full service Business Center with Wireless High Speed Internet and an indoor pool and health club facility. The hotel is situated directly next to McCormick Place Convention Center, minutes from U.S. Cellular Field, and near downtown Chicago’s many attractions including Lake Michigan, the Field Museum and the Magnificent Mile. Complimentary one-way shuttle transportation is available to downtown Chicago. Hyatt Regency McCormick Place is only 10 miles from Midway Airport. For reservations or more information, call 312.567.1234 or visit www.hyatt.com. Diners will receive parking validation for the Hyatt Regency McCormick Place parking garage.

Forward-Looking Statements
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. These statements include statements about our plans, strategies, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, 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, among others, general economic uncertainty in key global markets, the rate and pace of economic recovery following economic downturns; levels of spending in business and leisure segments as well as consumer confidence; declines in occupancy and average daily rate; hostilities, including future terrorist attacks, or fear of hostilities that affect travel; travel-related accidents; changes in the tastes and preferences of our customers; relationships with associates and labor unions and changes in labor law; the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners; risk associated with potential acquisitions and dispositions and the introduction of new brand concepts; changes in the competitive environment in our industry and the markets where we operate; outcomes of legal proceedings; changes in federal, state, local or foreign tax law; fluctuations in currency exchange rates; general volatility of the capital markets and our ability to access the capital markets. A more complete description of these risks and uncertainties can be found in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K. We caution you not to place undue reliance on any forward-looking statements, which are made 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 laws. 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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