Hyatt Partners With Cariari Premium Outlets to Develop New 120-Room Hyatt Place Hotel in Costa Rica

USA, Chicago, Illinois. November 28, 2019

Hyatt Hotels Corporation (NYSE:H) announced that Hyatt has entered into a management agreement with Cariari Premium Outlets S.A. and affiliates for a new Hyatt Place hotel in the province of Heredia in Costa Rica. The 120-room Hyatt Place San Jose Cariari will be located less than one mile away from the recently opened Costa Rica Convention Center, in the heart of the country's most important economic center.

With construction expected to begin in early 2020, Hyatt Place San Jose Cariari is projected to open in the second quarter of 2021, and will join the already open Hyatt Place San Jose Pinares and Andaz Costa Rica Resort at Peninsula Papagayo in Costa Rica. Known for its approachable service and uncomplicated experience, the Hyatt Place brand continues to increase its presence in Central America with hotels currently operating in Panama, Nicaragua and Honduras.

"We are thrilled to expand the brand's footprint in Costa Rica with the development of this new Hyatt Place hotel," said Camilo Bolaños, Vice President of Development and Real Estate - Latin America and Caribbean, Hyatt. "Hyatt Place hotels offer high-energy professionals who want to balance the priorities of work and life with elevated amenities and added conveniences that help guests do more. The proximity and connectivity to Costa Rica's international airport and brand new Costa Rica Convention Center will set Hyatt Place San Jose Cariari apart and will ensure business travelers will get the most out of their stay."

Heredia, a province located just six miles north of the country's capital city, is considered an extension of San Jose's Greater Metropolitan Area, home to one of Costa Rica's largest universities and a variety of industrial and technology enterprises. Situated within Cariari 111 Tower, a mixed-use development located along one of Heredia's main avenues, Vía Nacional 106, less than one mile (1.4 kilometers) from Juan Santamaría International Airport (SJO), Hyatt Place San Jose Cariari will offer access to a premier mix of industrial, financial and new commercial areas.

The Hyatt Place brand is rooted in extensive consumer insights indicating that guests seek stylish, comfortable experiences that accommodate their lifestyles and familiar routines. To embody this, the brand offers approachable hospitality and purposeful service in a smartly designed, contemporary environment.

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