Hyatt Announces Plans For Hyatt Place Saigon Phu Nhuan
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Hyatt Announces Plans For Hyatt Place Saigon Phu Nhuan

Set to open in 2022, the hotel will mark Hyatt’s first Hyatt Place hotel in Vietnam

March 18, 2019 // Franchising.com // CHICAGO - Hyatt Hotels Corporation (NYSE: H) announced that a Hyatt affiliate has entered into a management agreement with an affiliate of Ben Thanh Holdings to develop a Hyatt Place hotel in Ho Chi Minh City. The new 200-key Hyatt Place Saigon Phu Nhuan will be the first Hyatt Place hotel in Vietnam.

The Hyatt Place brand is rooted in extensive consumer insights indicating that guests seek stylish, comfortable, seamless experiences that accommodate their lifestyles and familiar routines. To embody this, the brand offers casual hospitality and purposeful service in a smartly designed, high-tech and contemporary environment.

“We are pleased to start our relationship with Ben Thanh Holdings with the introduction of our first select service hotel and the Hyatt Place brand into a fast-developing country like Vietnam,” said David Udell, group president, Asia-Pacific, Hyatt Hotels Corporation. “With its thoughtful, intuitive design, Hyatt Place Saigon Phu Nhuan will offer multi-tasking professionals and leisure travelers a comfortable stay equipped with all the essentials to help them get the most out of their stay.”

The hotel will reside in the Phu Nhuan district, which is considered the geographical center of Ho Chi Minh City due to its central location and accessibility from all the surrounding areas. Conveniently located within two kilometers from the Tan Son Nhat International Airport and less than five kilometers from the city’s Central Business District, Hyatt Place Saigon Phu Nhuan will provide guests with convenient access to financial hubs and local attractions.

“Hyatt Place Saigon Phu Nhuan’s close proximity to dynamic business zones and local attractions will help position it as the choice accommodation for value-conscious business professionals and leisure travelers,” said Tri Cao Nguyen, Chairman and Chief Executive Officer, Ben Thanh Holdings. “We are excited to collaborate with Hyatt and tap on its wealth of experience in hospitality to introduce guests to Hyatt’s first select service hotel in Vietnam.”

Hyatt Place Saigon Phu Nhuan will feature 200 guestrooms, a cafe, grab-and-go food market, bar, lobby lounge, outdoor pool, fitness center as well as two meeting rooms totaling more than 255 square meters.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

About Hyatt Place

Hyatt Place hotels combine style, innovation and 24/7 convenience to create a seamless stay with modern comforts. There are more than 325 Hyatt Place locations in Armenia, Australia, Brazil, Canada, Chile, China, Costa Rica, Germany, Honduras, India, Mexico, Morocco, Nicaragua, Panama, Puerto Rico, Thailand, The Netherlands, United Arab Emirates, United Kingdom, and the United States. For more information, please visit hyattplace.com. Join the conversation on Facebook and Instagram, and tag photos with #HyattPlace and #WhySettle.

About Ben Thanh Holdings

Ben Thanh Holdings is a diversified company with unrivalled experience in Vietnam, owning more than 30 subsidiaries and affiliates operating in various industries. It comprises a broad portfolio of market-leading businesses, from F&B and entertainment to real estate, education and banking. With its extensive knowledge of the Vietnamese market and long-standing relationships, the company has set its mid- and long-term goals to further expand the business into premier accommodation services, including hotel, resort and restaurant chain nationwide in Vietnam. Ben Thanh Holdings is committed to continue building on its strength and deliver value in today’s complex and rapidly evolving market.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 19 premier brands. As of December 31, 2018, the Company's portfolio included more than 850 properties in 60 countries across six continents. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top colleagues, build relationships with guests and create value for shareholders. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences, vacation ownership properties, and fitness and spa locations, including under the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination®, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Hyatt House®, Hyatt Place®, Joie de Vivre®, tommie™, Hyatt Residence Club® and Exhale® brand names, and operates the World of Hyatt® loyalty program that provides distinct benefits and exclusive experiences to its valued members. For more information, please visit www.hyatt.com.

Forward-Looking Statement

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, but are not limited to, statements related to the Company’s outlook, estimated Adjusted EBITDA contribution of the transaction, estimated integration-related costs of the transaction, plans, objectives, goals, expectations, beliefs, business strategies, future events, business conditions, business trends and expectations, and involve known and unknown risks that are difficult to predict. As a result, 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 risks discussed in the Company’s filings with the SEC, including our annual report on Form 10-K and subsequent reports, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We do not undertake or assume any 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 law. 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.

Media Contacts:

Angelina Hue
Hyatt – Asia Pacific
+852 2678 1323
Angelina.Hue@hyatt.com

Noelle Bauer
Hyatt
+1 312-882-4241
Noelle.Bauer@hyatt.com

SOURCE Hyatt

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