Hyatt Announces Acquisition of Austin’s Historic Driskill Hotel

  Hyatt Announces Acquisition of Austin’s Historic Driskill Hotel

Acquisition deepens Hyatt’s presence in one of the fastest growing markets in
                                   the U.S.

Business Wire

CHICAGO -- March 8, 2013

Fresh from announcing the opening of the 296-room Hyatt Place Austin Downtown,
Hyatt Hotels Corporation (NYSE:H) today announced that a Hyatt affiliate has
acquired the 189-room Driskill Hotel for approximately $85 million from an
investment fund managed by Lowe Enterprises Investors, which was represented
in the transaction by Jones Lang LaSalle’s Hotels & Hospitality Group.

The transaction closed earlier today and the hotel will continue to be
marketed as The Driskill Hotel under the umbrella of Hyatt Hotels & Resorts.
The hotel will undergo a two-year, approximately $8 million renovation to
preserve its reputation as one of the most storied hotels in Texas.

“Our investment in this hotel, which has a highly visible and long-standing
presence in a vibrant market, is a great example of Hyatt’s willingness and
ability to apply our capital to increase our brand presence in key locations
for our guests. Austin has a diverse economy driven by technology, the state
capitol, and the University of Texas, and is a rapidly growing tourism and
convention market,” said David Tarr, senior vice president of North American
development and real estate for Hyatt. “We are excited to have the opportunity
to continue the tradition of hospitality that Lowe Enterprises and Destination
Hotels & Resorts have been providing at The Driskill Hotel during their
ownership and management of this special property.”

Built in 1886, The Driskill Hotel is one of downtown Austin’s most
recognizable buildings and was designated a national historic landmark in
1969. The hotel’s location provides easy access to the Central Business
District, the Texas State Capitol and the Austin Convention Center, as well as
the areas that comprise the heart of Austin’s cultural and entertainment
activity, including the 6^th Street Entertainment District, the Warehouse
District and 2^nd Street Retail District.

“We are thrilled to add such a well-loved local icon to the Hyatt family and
are delighted to be increasing our presence in Austin, which offers
world-class business and educational institutions, as well as thriving
entertainment and technology scenes,” said Rakesh Sarna, group president –
Americas for Hyatt.

Hyatt continues to grow its portfolio across all brands globally. The
company’s executed contract base is larger than it has ever been, and as of
December 31, 2012, it included management or franchise contracts for
approximately 200 hotels. For more information, please visit
www.hyattdevelopment.com.

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 have locations on
six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation
subsidiary, develops, operates, markets or licenses Hyatt Residences^TM and
Hyatt Residence Club^TM. As of December 31, 2012, the Company's worldwide
portfolio consisted of 500 properties in 46 countries. For more information,
please visit www.hyatt.com.

About Lowe Enterprises Investors

Lowe Enterprises Investors (LEI) provides real estate investment management
services on behalf of a select list of institutional and high net worth
clients and partners through individually managed accounts, commingled fund
relationships and targeted investment programs. The firm has been responsible
for $6 billion in real estate assets, including commercial, hospitality and
debt investments, since inception in the late 1980s. LEI has been a leading
value-added investor through multiple cycles, employing equity and structured
debt in its investment strategies. The firm is based in Los Angeles and is an
affiliate of Lowe Enterprises, a national investment, development and
management firm. For more information about LEI, please visit:
www.LoweInvestors.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. Our actual results, performance or
achievements may differ materially from those expressed or implied by these
forward-looking statements. In some cases, you can identify forward-looking
statements by the use of words such as “may,” “could,” “expect,” “intend,”
“plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,”
“continue,” “likely,” “will,” “would” and variations of these terms and
similar expressions, or the negative of these terms or similar expressions.
Such forward-looking statements are necessarily based upon estimates and
assumptions that, while considered reasonable by us and our management, are
inherently uncertain. Factors that may cause actual results to differ
materially from current expectations include, among others, 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; if our third-party owners, franchisees or
development partners are unable to access the capital necessary to fund
current operations or implement our plans for growth; changes in the
competitive environment in our industry and the markets where we operate; 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 release. We undertake no
obligation to update publicly any of these forward-looking statements to
reflect actual results, new information or future events, changes in
assumptions or changes in other factors affecting forward-looking statements,
except to the extent required by applicable laws. If we update one or more
forward-looking statements, no inference should be drawn that we will make
additional updates with respect to those or other forward-looking statements.

Contact:

Hyatt Hotels Corporation
Amy Patti
+1-312.780.5620
amy.patti@hyatt.com
 
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