Business Wire 6-Dec-2018 5:01 PM
Hyatt Regency Tirana will mark continued growth for Hyatt in Southeast Europe
Hyatt Hotels Corporation (NYSE:H) announced today that a Hyatt affiliate has entered into a management agreement with Kastrati Hotels & Tower shpk for the first Hyatt-branded hotel in Albania. The 151-room Hyatt Regency Tirana is expected to open in late 2019 and will mark a milestone in Albania's thriving hospitality sector.
"Albania is one of the fastest growing economies in Europe and we are thrilled announce plans for a hotel in Tirana, a city that has undergone real transformation in recent years," said Takuya Aoyama, vice-president development, Hyatt. "With a prime location in the country's capital, the hotel will appeal to both business travelers and those looking to experience the cultural sights of the city."
Located close to national landmarks such as the Presidential Palace, Palace of Congress, National Park, and the soon-to-open National Arena, Hyatt Regency Tirana will connect guests to who and what matters most while visiting the country's capital. Guests will benefit from being a 10-minute walk from Blloku, an upmarket area widely known amongst locals as an entertainment destination with boutiques, shops, restaurants, and bars. Additionally, Rinas Mother Theresa International Airport will be approximately 15 kilometers away from the hotel.
"We are delighted to be working with Hyatt on this hotel. The Hyatt Regency brand is a globally recognized and will attract visitors to this remarkable city," said Leonard Kastrati, owner of Kastrati Hotels & Tower shpk. "We look forward to a successful cooperation with Hyatt and the brand's first hotel in Albania. We were also happy to collaborate with Colliers International London and Tirana offices who brokered this tremendous deal. We thank Ben Godon, Stela Dhami and the team for all their efforts and we believe it will greatly enhance Tirana's and Albania's future ambitions in the tourism industry."
Hyatt Regency Tirana will become the fifth Hyatt Regency hotel in Southeast Europe, joining Hyatt Regency Thessaloniki and Hyatt Regency Belgrade, along with the previously announced Hyatt Regency Sofia and Hyatt Regency Zadar.
For more information on Hyatt Regency hotels, please visit www.hyatt.com/brands/hyatt-regency.
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 Regency
The Hyatt Regency brand prides itself on connecting travelers to who and what matters most to them. More than 185 conveniently located Hyatt Regency urban and resort locations in over 30 countries around the world serve as the go-to gathering space for every occasion – from efficient business meetings to memorable family vacations. The brand offers a one-stop experience that puts everything guests need right at their fingertips. Hyatt Regency hotels and resorts offer a full range of services and amenities, including the space to work, engage or relax; notable culinary experiences; technology-enabled ways to collaborate; and expert meeting and event planners who can take care of every detail. For more information, please visit hyattregency.com. Follow @HyattRegency on Facebook, Twitter and Instagram, and tag photos with #AtHyattRegency.
About Kastrati Hotels & Tower shpk
Kastrati is an Albanian privately-owned group of companies established in 1991 that serves in over 12 industries operating in Albania and the Balkan region and employs over 3,000 people. Mainly recognized as the leading Albanian retail and wholesale trader of hydrocarbon products, Kastrati successfully operates in other industries such as insurance, construction and real estate, hospitality, automotive industry, retail, advertising, and many more. Kastrati Group has established its reputation as a reliable business partner by committing to deliver premium-quality products and services, bringing innovation, creating value for all stakeholders and giving back to the communities it operates in.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 14 premier brands. As of September 30, 2018, the Company's portfolio included more than 750 properties in more than 55 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®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound Collection by Hyatt®, Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™, Hyatt Residence Club® and Exhale® brand names. For more information, please visit www.hyatt.com.
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 our actual results, performance or achievements 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; the financial condition of, and our relationships with, third-party property owners, franchisees and hospitality venture partners; the possible inability of third-party owners, franchisees or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and the introduction of new brand concepts; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; general volatility of the capital markets and our ability to access such 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 U.S. Securities and Exchange Commission. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements. 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 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 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.
Limited Time Offer:
Claim your free copy of income expert Bryan Perry's new report:
My Top Monthly Dividend Payer (8% Dividend Yield)
You'll also receive Bryan Perry's weekly e-letter, Dividend Investing Weekly, at no cost, along with other associated financial content and special offers.