Hyatt Signs With wasl Asset Management Group for Development of Andaz Dubai The Palm

USA, Chicago, Illinois. May 14, 2019

Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with wasl Asset Management Group, one of the largest real estate development and management companies in Dubai, for the development of an Andaz branded hotel on the Palm Jumeirah. Occupying prime real estate on the world-famous man-made island, Andaz Dubai The Palm is slated to open in the last quarter of 2019, becoming the first Andaz branded hotel in Dubai and the second Andaz hotel in the United Arab Emirates, joining Andaz Capital Gate Abu Dhabi.

Created for the inquisitive-minded traveler, the hotel will offer an inspired local experience and stimulate guests' senses through the city's rich culture, heritage and attractions. The property will provide exclusive beachfront admission and easy access to several of Dubai's key landmarks including the Mall of the Emirates, Dubai Mall, Marina Mall, Jumeirah Beach and Dubai Marina.

HE Hesham Abdulla Al Qassim, CEO of wasl Asset Management Group, commented, "Andaz Dubai The Palm will provide a standout hospitality experience for guests amidst a location famous for luxury and exclusivity. Due for completion ahead of the EXPO 2020, this new venture with Hyatt will further enriches our portfolio and fosters the provision of exemplary hospitality experiences to Dubai's growing tourism market."

"Hyatt is committed to thoughtfully introducing brands to new places and providing meaningful experiences for each and every guest," said Ludwig Bouldoukian, Hyatt's Dubai-based regional vice president of development, Middle East and North Africa. "We're excited to introduce the Andaz brand to Dubai and believe that the globally renowned Palm Jumeirah provides the ideal setting to realize this vision. The vibrant luxury property will attract travelers looking to fully immerse themselves in Dubai and engage them through unique programming."

The hotel will feature twin 15-story towers inclusive of 217 guestrooms and 116 serviced apartments, each capturing a bespoke design influenced by the colors of Arabia. To add to the area's thriving culinary scene, the hotel will offer four vibrant restaurants as well as a fitness center, spa and meeting facilities.

A second property is also under development at urban beachside destination La Mer. Previously announced as Andaz La Mer Dubai, Hyatt Centric La Mer Dubai will mark the first property under the Hyatt Centric brand in the UAE. A full-service lifestyle brand positioned in prime destinations, Hyatt Centric hotels are thoughtfully designed as a launch-pad for exploration and discovery, a perfect fit for socially connected guests who want to live in the now. Hyatt Centric La Mer Dubai is set to open in 2020.

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