Hyatt and Banyan Cay Development Plan for 150-Room Banyan Cay Resort & Golf, a Destination Hotel

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USA, Chicago, Illinois. December 24, 2020

Hyatt Hotels Corporation (NYSE:H) announced that a Hyatt affiliate has entered into a franchise agreement with Banyan Cay Development (BCD) to develop Banyan Cay Resort & Golf, a Destination Hotel. Expected to open in late 2021, this property will mark entry of the Destination Hotels brand into Florida and will be the first full-service Hyatt-branded property in Palm Beach County, an internationally recognized resort and leisure destination.

With 150 guestrooms, Banyan Cay Resort & Golf will offer independent-minded travelers a 5,000 square-foot spa and fitness center, tennis pavilion, swimming pools, and three food and beverage venues, including signature restaurants and golf clubhouse dining. With over 10,000 square feet of planned indoor meeting and events spaces, guests will also have ample space to host private functions, conferences, and gatherings. Offering guests experiences they crave on and off property, Banyan Cay Resort & Golf will be situated just six miles from pristine beaches and conveniently located near West Palm Beach International Airport.

"At Hyatt, we prioritize thoughtful growth in locations that matter most to our guests, World of Hyatt members and customers, and we are excited to introduce Hyatt's high-quality and distinct experiences to West Palm Beach," said David Tarr, senior vice president, development, Americas, Hyatt. "We look forward to collaborating with Banyan Cay Development to expand the Destination Hotels brand footprint and provide travelers with a unique, upscale resort option."

Resort guestrooms and suites will provide an oasis of peace, quiet and privacy, designed in a refined and modern Palm Beach aesthetic. Situated by the resort's tropical pool and offering scenic views of Banyan Lake, Banyan Cay Resort & Golf will also offer 22 private resort villas, including bell service, daily housekeeping, room service, private kitchens and spacious living and dining areas.

"We are thrilled to collaborate with Hyatt on plans to introduce the first golf resort in the city of West Palm Beach and provide guests with an elevated stay experience that embodies the laid-back elegance and spirit of southern Florida," said Domenic Gatto, founder of Banyan Cay Development. "With its longstanding reputation in stand-out resort offerings, the Destination Hotels brand is perfectly suited to help guests discover all that the resort will offer."

Banyan Cay Resort & Golf is home to a 130-acre Jack Nicklaus signature golf course and clubhouse, which is currently open and operating. The golf course offers 18-holes of thoughtful play with gently rolling fairways, landforms, various water features, and sod-wall bunkers that provide both aesthetics and complexity. To date multiple events, charity tournaments and qualifiers for major PGA sanctioned tournaments, including the Honda Classic and the US Open, have been hosted on the Banyan Cay Golf Course. Not only has the Banyan Cay Golf Course been selected to host prestigious PGA events, but it is expected to host many more events of similar caliber in the future.