First Hyatt Branded Resort to Open in Phuket Thailand
July 26, 2013 - Hyatt Hyatt Hotels Corporation (NYSE: H) announced yesterday that a Hyatt affiliate has entered into a management agreement with Kamala Bay Ventures Co., Ltd. for a Hyatt Regency hotel in Phuket, Thailand.
The hotel will be the first Hyatt-branded resort to open in Phuket, one of Southeast Asia's premier resort destinations. Expected to open in late 2013, Hyatt Regency Phuket Resort will join two existing Hyatt-branded hotels in Thailand, including Grand Hyatt Erawan Bangkok and Hyatt Regency Hua Hin.
“We are excited to bring the Hyatt Regency brand to one of the region's most sought after resort destinations,” said Ratnesh Verma, senior vice president, real estate and development, Asia Pacific for Hyatt Hotels & Resorts. “Hyatt Regency Phuket Resort will follow the opening of Park Hyatt Siem Reap and Park Hyatt Changbaishan this year, and the addition of these hotels is indicative of Hyatt's commitment to build brand loyalty through exciting leisure offerings. We are honored to further strengthen our relationship with Kamala Bay Ventures Co., Ltd., which through its affiliates is also the owner of Park Hyatt Siem Reap and Park Hyatt Maldives Hadahaa.”
Hyatt Regency Phuket Resort will be located on the west coast of Phuket along the upscale Millionaire's Mile. Overlooking Kamala Bay and the Andaman Sea, the hotel will offer impressive connections to the bustling areas of the island. The hotel will feature 202 guestrooms, in addition to more than 4,300 square feet of meeting facilities, three food and beverage outlets, a club lounge, fitness center, outdoor swimming pool, and spa.
As of March 31, 2013, the Company's executed contract base consisted of approximately 200 hotels across all brands and regions in which Hyatt hotels operate.
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