Hyatt and Extell Development Company Partner to Bring Grand Hyatt Brand to Utah

USA, Chicago, Illinois. November 13, 2023

Hyatt Hotels Corporation (NYSE:H) and Extell Development Company announced the planned expansion of the Grand Hyatt brand in Park City, Utah. Expected to open late 2024, Grand Hyatt Deer Valley will mark the debut of the Grand Hyatt brand in Utah and will be located at the famed Deer Valley Resort. Uniquely designed as a captivating destination within a destination, the property will open as the first luxury hotel within Deer Valley Resort's forthcoming expansion.

Situated 40 minutes from the Salt Lake City International Airport, Grand Hyatt Deer Valley will offer 387 expansive guestrooms, inclusive of 40 suites, 55 private residences and 38,900 square feet of indoor event space, including a 10,000 square foot grand ballroom. Guests will be able to enjoy world-class dining options, including an après ski bar and grill, a signature bar and restaurant, and coffee bistro. The property will feature an expansive outdoor event terrace with panoramic mountain views, a heated year-round pool and whirlpool, fitness center, and more.

Expected to open in time for the 2024/2025 ski season, Grand Hyatt Deer Valley will mark another milestone in Hyatt's intentional growth strategy and provide guests and World of Hyatt members more ways to explore destinations through memorable experiences.

"Strategically positioned to meet increasing demand in resort markets, Grand Hyatt Deer Valley is a testament to the deliberate expansion of Hyatt's luxury brands in sought-after destinations," said Kimo Bertram, vice president of development, Americas. "The Grand Hyatt brand celebrates the iconic in small details and magnificent moments for guests, World of Hyatt members and customers. Grand Hyatt Deer Valley will deliver on this brand promise by providing a luxurious retreat for group and leisure travelers alike after a day of exploration and taking advantage of all the resort has to offer."

The hotel's convenient location at the famed Deer Valley Resort will provide easy access to the slopes and the resort's many winter and summer attractions, including various restaurants, retailers, a children's center, and one of the largest ski beaches in the world - the ideal gathering spot to lounge, soak up the sun and enjoy breathtaking mountain views. The hotel will be part of the planned expansion of Deer Valley Resort that will more than double the resort's skiable terrain and feature 16 new ski lifts and a state-of-the-art 10-passenger gondola; such network of chairlifts will offer efficient access to over 235 ski runs across 10 mountain peaks. Additionally, the hotel will be located a short drive from Park City's historic main street, as well as access to hiking, mountain biking, golf, horseback riding and various watersports during the summer months.

"Grand Hyatt Deer Valley has been years in the making and will be the cornerstone of our new village at Deer Valley Resort. We have meticulously designed a hotel offering luxurious finishes and best-in-class amenities to appeal to guests and their families seeking a stay in the mountains. In addition, Grand Hyatt Deer Valley will be one of the nation's only conference facilities located in a beautiful and easily accessible ski destination—a combination that is nearly unheard of within the industry," said Gary Barnett, Founder & Chairman of Extell Development Company. "Finally, in recognition of their service to our country, active and retired military members will receive certain benefits and amenities while staying at the hotel."

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