PEC Portfolio Springvale to Develop 200-Key Hyatt Place Hotel in Melbourne, Australia Set to Open in 2020
Hyatt Hotels Corporation (NYSE: H) has announced that a Hyatt affiliate has entered into a management agreement with PEC Portfolio Springvale Pty Ltd for a 200-key Hyatt Place hotel in Melbourne, Australia.
The Hyatt Place brand is rooted in extensive consumer insights indicating that guests seek stylish, comfortable, seamless experiences that accommodate their lifestyles and familiar routines. To embody this, the brand offers casual hospitality and purposeful service in a smartly designed, high-tech and contemporary environment.
“We are delighted to expand the Hyatt Place brand in Melbourne, the second largest city Australia,” said Asia Pacific Group President David Udell, Hyatt Hotels Corporation. “The hotel will mark the tenth Hyatt-branded hotel in Australia and it will be a great addition to Hyatt's brand footprint in Melbourne, which includes Park Hyatt Melbourne, Grand Hyatt Melbourne, Hyatt Place Melbourne Essendon Fields, and a recently announced Hyatt Centric hotel in Melbourne.”
Hyatt Place Melbourne Springvale will boast a prominent location at the intersection of Springvale and Dandenong Roads in the heart of the Monash Employment and Innovation Cluster, which is home to a number of academic institutions, businesses and medical facilities. Hyatt Place Melbourne Springvale will become the second Hyatt Place hotel in Australia upon its expected opening in 2020.
The hotel will be developed by PE Capital, one of the leading boutique investment management firms in Australia, and will form part of a mixed-used complex, which will also include co-working facilities and retail stores.
“With a talented workforce and a growing diversity of institutions and industries, the Monash Cluster continues to make significant contributions to the Victorian economy. We believe the new complex will offer unique business and leisure experience for both local and international guests,” said Martyn Barnes of PE Capital. “We are thrilled to collaborate with Hyatt to further cultivate the Monash Cluster into a top modern business destination and support the national economy. Hyatt Place Melbourne Springvale will provide thoughtful service, providing both business and leisure travelers with an optimal choice while visiting the city.”
For more information, please visit www.hyattplace.com.
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
