Hyatt and 3h Group Break Ground on Inaugural Hyatt Studios Property in Mobile, Alabama

Hyatt’s First Upper-Midscale Extended-Stay Brand Experiencing Growing Pipeline With Strong Interest from Developers

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USA, Chicago, Illinois. December 28, 2023

Hyatt Hotels Corporation (NYSE: H) marks Hyatt's entry into upper-midscale lodging in the Americas with the groundbreaking of the first Hyatt Studios property, set to open in Mobile, Ala. in early 2025. Hyatt has entered into a franchise agreement with 3H Group Inc. for Hyatt Studios Mobile/Tillman's Corner. The Hyatt Studios brand is expected to be a key accelerator for Hyatt, building on Hyatt's six years of industry leading net rooms growth.

"We are proud to achieve this construction milestone in bringing the Hyatt Studios brand to life," said Dan Hansen, global head of Hyatt Studios. "The Hyatt Studios brand is positioned to transform the upper-midscale, extended-stay experience for our guests and World of Hyatt members by delivering exceptional value, best-in-class amenities and the highest level of care. The continued interest from the development community reaffirms the Hyatt Studios brand's compelling value proposition."

Located in Tillman's Corner, just outside of Mobile, Ala. and near scenic Mobile Bay, the first planned Hyatt Studios hotel will provide guests with easy access to the Gulf Coast. The property will be located just 10 miles from Mobile International Airport and near historical and cultural destinations including the USS Alabama Battleship Memorial Park, GulfQuest National Maritime Museum of the Gulf of Mexico and the Mobile Carnival Museum. In addition to attracting tourism, the city boasts a diverse range of industries in manufacturing, aerospace, and commercial retail, further enhancing its midscale appeal. The construction of Hyatt Studios Mobile/Tillman's Corner is expected to create dozens of local jobs and enrich Mobile's hospitality industry.

"Our decision to further our long-time collaboration with Hyatt was driven by the team's unwavering commitment to understanding the needs of guests, owners and developers and delivering extraordinary service and value," said Hiren Desai, president and CEO, 3H Group, Inc. "We're thrilled to embark on this journey with Hyatt to open the first Hyatt Studios hotel and expand our extended-stay presence in this growing community. Beyond Mobile, 3H Group hopes to add an additional Hyatt Studios hotel to our portfolio soon."

Following Hyatt's announcement of the Hyatt Studios brand in April, strong interest from hotel developers is contributing to a growing pipeline. The brand's growth is further evidenced by a newly executed deal for a Hyatt Studios hotel in Portland, Maine, slated to open in 2025.

Hyatt's first franchise agreement with Giri Hotel Management - a hotel group that operates more than 50 hotels in New England - for a 122-room Hyatt Studios hotel at Portland International Jetport (PWM) that will serve Maine's largest city. Portland has witnessed a continuous surge in leisure and business travel in recent years with several airlines adding new non-stop routes from PWM and a variety of industries expanding their presence in the area. This hotel, in line with the overall Hyatt Studios brand, centers the needs of an evolving guest demographic, offering cozy home comforts with the flexibility, amenities, and quality that Hyatt is known for. The forthcoming hotel will be perfectly situated near Portland's charming historic downtown, and breathtaking year-round destinations along Maine's coast including Kennebunkport, York Beach, and Ogunquit, as well as ski resorts in Maine and New Hampshire.

The Hyatt Studios brand will join the Hyatt Place, Hyatt House and Caption by Hyatt brands in Hyatt's select service category and broaden the guest experiences offered by World of Hyatt, widely recognized as the industry's leading loyalty program, quadrupling in number of members over the past five years. At Hyatt Studios hotels, guests can anticipate the high quality and contemporary style that is characteristic of the Hyatt brand, and rooms that emulate studio apartments offering dedicated space to work, relax or dine.