Hyatt Signs With Anolia Holdings Limited to Develop First Hotel in Cyprus

USA, Chicago, Illinois. August 06, 2020

Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Anolia Holdings Limited for the first Hyatt hotel on the island of Cyprus, Grand Hyatt Limassol. The 300-room luxury resort is expected to open in 2025 and signifies Hyatt's continued growth into Europe's leading travel destinations.

The new-build beachfront resort will be situated at a Blue Flag beach east of Limassol, one of the island's most cosmopolitan cities. With a prime beachfront location on the southern coast of the island and 300 bold, light-filled rooms offering sea views, Grand Hyatt Limassol will be a captivating destination within a destination featuring a stunning 43,000-square-foot (4,000 square meter) beach club including premium spa and fitness facilities as well as an indoor pool and two outdoor pools. The resort will additionally offer five elevated food and beverage concepts as well as 15,000 square feet (1,400 square meters) of event space. Furthermore, Grand Hyatt Limassol will be a key element of Zaria Resort, a mixed-use luxury development, comprised of residential apartments and private villas totaling more than 861,100 square feet (80,000 square meters).

"We're delighted to work with Anolia Holdings Limited to bring the Grand Hyatt brand, known for its access to iconic locales, to the island of Cyprus, one of the most popular tourist destinations in Europe," said Takuya Aoyama, vice president development for Europe and Africa, Hyatt. "Grand Hyatt Limassol represents a key element of our growth strategy in Europe as we continue to seek opportunities to extend our resort footprint in the Mediterranean."

Only a 30-minute drive from Larnaca International Airport, the hotel will bring with it the exceptional brand of luxury and vibrant design that the Grand Hyatt brand delivers to guests worldwide. Arriving guests will drive past the lush greenery of the hotel's 150,000-square-foot (14,000-square-meter) public garden and promenades and enjoy a spectacular view of the Mediterranean. The resort promises to be a celebration of all the exquisite details of Cypriot culture, offering guests a stay beyond the ordinary through magnificent moments of more and superior service.

"We are thrilled to team-up with Hyatt on this development," said Alexander Iakovlev, director of Anolia Holdings "The Grand Hyatt brand is synonymous with luxury and creating unique experiences for guests which remain authentic to the destination itself. In addition, given Limassol's status as a financial capital of Cyprus, the hotel will not only attract leisure guests but may also prove popular for business travelers, conference-goers and event attendees. We are eager to see Grand Hyatt Limassol become the heart of the Zaria Resort development."

The announcement of Grand Hyatt Limassol follows a significant expansion in Hyatt's brand footprint in Europe over the last 12 months. Nine new hotels including Great Scotland Yard, Hyatt Centric Dublin, Andaz Vienna Am Belvedere, Hyatt Regency Chantilly and more opened in the region in 2019, with four more additions in Barcelona, Manchester and Frankfurt this year. These plans for a hotel in Cyprus represent a key opportunity in Europe as it builds upon Hyatt's existing and upcoming portfolio in Malta, Athens Thessaloniki and Izmir. The island has furthermore proven to attract travelers from Hyatt's key strategic markets including the UK, Russia, Greece, Germany and the Middle East.

The term "Hyatt" is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

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