Hyatt Announces Plans for a Park Hyatt Hotel in Qingdao

  Hyatt Announces Plans for a Park Hyatt Hotel in Qingdao

Business Wire

CHICAGO -- October 22, 2012

Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has
entered into a management agreement with China Resources Land Limited for a
Park Hyatt hotel in Qingdao, China. China Resources Land Limited is the owner
of Grand Hyatt Shenzhen, which opened in 2009, and is the owner and developer
of five additional Hyatt-branded hotels under development in China, including
Park Hyatt Hangzhou, Grand Hyatt Dalian, Grand Hyatt Hefei, Grand Hyatt
Shenyang, and Grand Hyatt Zhengzhou. Park Hyatt Qingdao will be the second
Hyatt-branded hotel in Qingdao, following the opening of Hyatt Regency
Qingdao, which is slated to open at the end of 2012.

Park Hyatt Qingdao is expected to open in 2016 (Photo: Business Wire)

Park Hyatt Qingdao is expected to open in 2016 (Photo: Business Wire)

“Qingdao is a key economic powerhouse in Shandong Province and one of China’s
most important ports, and is also a popular tourist destination and a renowned
summer retreat,” said Larry Tchou, Group President, Asia Pacific, Hyatt Hotels
and Resorts. “We believe Park Hyatt Qingdao will deliver an unprecedented
level of luxury and unrivalled hospitality experience to guests visiting this
bustling gateway city. This hotel is our seventh hotel project with China
Resources Land Limited, which is significant because it further underscores
our relationship with this organization, as well as our commitment to creating
preference by enhancing distribution of Hyatt-branded hotels throughout China,
a market where our guests are frequently traveling.”

Expected to open in 2016, Park Hyatt Qingdao will be centrally located in
Qingdao’s Central Business District on Shandong Road. The hotel will be part
of City Crossing, a mixed used complex that will incorporate high-end
residential buildings, serviced apartments, office space, and luxury shopping
facilities. Park Hyatt Qingdao will be located on the upper levels of a
250-meter high skyscraper with office space underneath. The hotel will offer
247 guestrooms and suites, and will also feature an array of restaurants and
bars, multi-purpose meeting and banquet spaces, a fitness center, a pool and a
spa.

“We are pleased to be working with Hyatt again on a project as significant as
this, and we look forward to growing our portfolio of Hyatt-branded hotels
throughout China,” said Thomas Choi, Vice President of China Resources Land.

For more information, please visit www.hyattdevelopment.com.

About Park Hyatt

Park Hyatt provides discerning, affluent individual business and leisure
guests with elegant and luxurious accommodations. Guests of Park Hyatt receive
highly attentive personal service in an intimate environment. Located in many
of the world's premier destinations, each Park Hyatt is custom designed to
combine sophistication with distinctive regional character. Park Hyatt
features well-appointed guestrooms, meeting and special event spaces for
smaller groups, critically acclaimed art programs and signature restaurants
featuring award-winning chefs.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global
hospitality company with a proud heritage of making guests feel more than
welcome. Thousands of members of the Hyatt family strive to make a difference
in the lives of the guests they encounter every day by providing authentic
hospitality. The Company's subsidiaries manage, franchise, own and develop
hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt
Regency®, Hyatt Place® and Hyatt House^TM brand names and has locations on six
continents. Hyatt House is changing its brand identity from Hyatt Summerfield
Suites®. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary,
develops, operates, markets or licenses Hyatt Residences^TM and Hyatt
Residence Club^TM. As of June 30, 2012, the Company's worldwide portfolio
consisted of 492 properties in 45 countries. For more information, please
visit www.hyatt.com.

Forward-Looking Statements

Forward-Looking Statements in this press release, which are not historical
facts, are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements include statements
about our plans, strategies, occupancy and ADR trends, market share, the
number of properties we expect to open in the future, our expected adjusted
SG&A expense, capital expenditures, depreciation and amortization expense,
interest expense and effective tax rate, estimates, financial performance,
prospects or future events and involve known and unknown risks that are
difficult to predict. As a result, our actual results, performance or
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inherently uncertain. Factors that may cause actual results to differ
materially from current expectations include, among others, general economic
uncertainty in key global markets, the rate and pace of economic recovery
following economic downturns; levels of spending in business and leisure
segments as well as consumer confidence; declines in occupancy and average
daily rate; our ability to successfully execute and implement our
organizational realignment and the costs associated with such organizational
realignment; our ability to successfully execute and implement our common
stock repurchase program; loss of key personnel, including as a result of our
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volatility of the capital markets; our ability to access the capital markets;
and other risks discussed in the Company’s filings with the U.S. Securities
and Exchange Commission, including our Annual Report on Form 10-K, which
filings are available from the SEC. We caution you not to place undue reliance
on any forward-looking statements, which are made as of the date of this press
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Contact:

Hyatt Hotels Corporation
Siân Martin, +1 312 780 5797
sian.martin@hyatt.com
or
Lillian Zhang, +86 10 5928 1234
lillian.zhang@hyatt.com
 
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