Hyatt Signs With UBM Development for Andaz Prague Marking Brand Debut in Czech Republic

USA, Chicago, Illinois. December 04, 2019

Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement for the first Hyatt property in the Czech Republic. The "Sugar Palace" hotel project, currently being developed by UBM Development AG, will become the new Andaz Prague. Located at Senovážné Square, only a short walk from Prague's world-famous Old Town, the 175-room hotel is expected to open in 2022.

Andaz Prague will be among the first luxury lifestyle hotels in the Czech capital. A juxtaposition of heritage and modernity, and echoing the sights, sounds, scents and tastes of its surroundings, Andaz Prague will create a stay that immerses curious travelers and neighborhood guests in the very best of its locale.

Originally built in 1916, the neoclassical landmark, commonly known as the Sugar Palace, features a unique architectural design and will provide unscripted access to the rich heritage and history of Prague. The most important sights can be easily reached by foot allowing guests to experience the city's unique flair. Andaz Prague will feature three distinct food and beverage outlets, approximately 4,840 square feet (450 square meters) of event space, a fitness center and a spa.

"Prague has been a popular destination particularly since the Velvet Revolution 30 years ago," said Takuya Aoyama, vice president development, Hyatt. "This city of Mozart, Mucha and Hrabal continues to inspire people to explore its rich offerings. With the addition of Andaz Prague, we are excited for Hyatt to have a brand presence in the three imperial cities of Europe - Vienna, Budapest and Prague - and grow our opportunities to cater to the luxury demand."

"It is wonderful to be working alongside Hyatt to bring the Andaz brand to the Czech Republic. This hotel has great potential for those wishing to explore Prague, and we believe that the Andaz brand is the perfect choice for this culturally rich city," said Thomas Winkler, CEO of UBM Development AG. "With our long-standing expertise as Europe's leading hotel developer, we will transform this truly exceptional building in a new jewel of Prague's hotel landscape."

The growing demand in Europe for unique experiences and personalized service has led to the Andaz brand welcoming two new properties this year in Europe - Andaz Munich Schwabinger Tor and Andaz Vienna Am Belvedere, which joined Andaz London Liverpool Street and Andaz Amsterdam Prinsengracht.

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