Hyatt Announces Plans for Andaz Scottsdale Resort & Spa

The 201 room art-inspired destination resort and retreat to open in
2016

CHICAGO–(BUSINESS WIRE)–Hyatt
Hotels Corporation
 (NYSE: H) today announced that a Hyatt affiliate
has entered into an agreement with PV Scottsdale Hotel Owner SPE LLC for
the operation of a new Andaz hotel in Scottsdale, Arizona. Andaz
Scottsdale Resort & Spa
will join Andaz hotels in top resort
destinations including Wailea (Maui) and Peninsula Papagayo (Costa
Rica), as well as urban Andaz hotels in global gateway cities including
London, New York, Napa, Los Angeles, Savannah, Shanghai, Amsterdam and
Tokyo. Expected to open mid-year 2016, Andaz Scottsdale will feature 201
bungalow style guestrooms, a full service spa and salon, and more than
20,000 square feet of meeting and event spaces on more than 22 acres of
land.


Andaz Scottsdale will further the brand’s mission to create inspiring,
indigenous experiences which immerse guests in the local culture of each
unique destination. This sophisticated, urban resort is located in the
exclusive Town of Paradise Valley, within walking distance to restaurant
and entertainment venues and less than two miles north of Old Town
Scottsdale and the Fashion Square shopping mall. Guests of Andaz
Scottsdale will also enjoy easy access to the world-class golf courses
and other outdoor activities in The Valley of the Sun.

Andaz Scottsdale will be a desert oasis featuring stunning views of
Camelback Mountain. Mid-century, desert inspired interiors conceived by
EDG Interior Architecture + Design draw inspiration from the innovative
1950s desert art scene influenced by architects, artists and graphic
designers, including Alexander Girard, Frank Lloyd Wright and Paolo
Solari. The desert serves as a creative landscape to weave an eclectic
mix of folk art, cultural patterns, and bright colors into the
architecture and design of the hotel.

“Andaz hotels deliver unique guest experiences in urban and resort
locations in a highly personal, yet uncomplicated way. Its commitment to
individuality and local identity make it an ideal match for our unique
desert retreat destination. We are excited to work with Hyatt to bring
the Andaz ethos to life in Scottsdale,” said Gary Stougaard, Managing
Member of Chelsea Hospitality Partners.

“We are delighted to introduce the first Andaz hotel to Arizona and to
this premier resort destination,” said David Tarr, Senior Vice President
of Development for Hyatt. “Andaz Scottsdale Resort & Spa will continue
to carry the tradition of what the brand is all about – bringing the
very best of the local culture to life through inspiring experiences for
guests. It is exciting to see this resort property completely
reinvented, and its opening will start a wave of openings for the Andaz
brand including hotels in Ottawa and Palm Springs.”

Andaz Scottsdale will include 201 guestrooms and suites, ranging in size
from 350 to 500 square feet configured in bungalow style clusters of six
units each to provide guests an authentic and intimate desert resort
experience. Guestrooms will also feature state-of-the-art technology and
entertainment, as well as private terraces, including some with outdoor
showers. The resort will include a large pool and sundeck with a
luxurious 12,000 square foot spa facility and a fitness center featuring
the latest cardio and strength exercise equipment. Inspired by the
spirit of artistic expression, which will radiate through the hotel,
food and beverage offerings at Andaz Scottsdale will encourage and
promote culinary experimentation. A glass box display kitchen will
feature a plancha grill where the chef will create innovative twists on
local flavors from a palette of the finest fresh ingredients. The menu
will encourage social interaction – from a Southwest infused breakfast
to shareable plate options throughout the day and evening. The lounge
will be centered around an open mixology hub and provide an eclectic mix
of signature cocktails, craft beers and tap beverages. Guests’
imagination will be inspired by the stunning colors of the desert sky
against the silhouette of Camelback Mountain from the outdoor terrace.

More than 20,000 square feet of indoor and outdoor meeting and event
facilities will provide memorable venues for meetings, group events and
weddings, and will include intimate gathering and social areas among the
stately cottonwood and pine trees throughout the resort.

One of the most distinctive features of Andaz Scottsdale will be the
hotel’s collaboration with local artists, musicians and designers to
create events and programs for guests based upon themes unique to the
Sonoran desert. The Andaz Salon, the brand’s signature cultural program,
will feature interactive events to support and nurture the nearby
community of emerging artistic talent. The distinctive spaces at Andaz
Scottsdale will be stages for creative Andaz Salon events, ranging from
talks and lectures to exhibitions to live performances. These events can
also be experienced through the Andaz Salon website at www.andazsalon.com.

About PV Scottsdale Hotel Owner SPE LLC

PV Scottsdale Hotel Owner SPE LLC is a joint venture between affiliates
of Chelsea Hospitality Partners and Lubert Adler Real Estate Fund VII.

About Chelsea Hospitality Partners

Chelsea Hospitality Partners is a hospitality investment, development
and management company lead by Gary Stougaard, a seasoned hospitality
veteran with more than 30 years of hotel acquisition, development and
operating experience. Chelsea has an established track record of value
creation through the opportunistic acquisition, renovation,
redevelopment and active management of hospitality assets in major
markets across the country.

About Lubert Adler

Lubert-Adler Management Company, LP is a real estate investment company
that commenced a series of funds in 1997 (the Lubert-Adler Real Estate
Funds I through VII, are collectively referred to as the “Lubert-Adler
Funds”) and, as of June 2015, has raised an aggregate of $7.5 billion of
equity and invested in over $17 billion of assets.

The Lubert-Adler investment team consists of experienced professionals
with strong backgrounds in real estate acquisition, asset management,
distressed restructurings and capital markets. On average, team members
have over 19 years of hands-on real estate experience. Lubert-Adler also
has an extensive network of industry relationships and strategic
operating partners

About EDG Interior Architecture + Design

A leading innovator in hospitality and restaurant design, EDG Design is
headquartered in the San Francisco Bay Area with offices in Singapore
and Dallas, EDG’s hotel and restaurant design portfolio includes many of
the world’s finest hotels and resorts.

About Andaz

Global in scale while local in perspective, Andaz hotels weave the
sights, sounds and tastes of their surroundings into each property for
an experience that truly immerses guests in the eclectic culture of each
local destination. Through personalized, unscripted service, Andaz
creates a barrier-free environment where guests are encouraged to
explore their personal sense of style and become inspired by the spirit
of the community. Twelve Andaz hotels are currently open: Andaz 5th
Avenue and Andaz Wall Street in New York, Andaz San Diego, Andaz West
Hollywood, Andaz Napa, Andaz Savannah, Andaz Maui at Wailea, Andaz
Peninsula Papagayo in Costa Rica, Andaz Liverpool Street in London,
Andaz Amsterdam Prinsengracht, Andaz Xintiandi in Shanghai and Andaz
Tokyo Toranomon Hills. Head to Andaz Salon to see evocative content from
Cultural Insiders, unique events and stunning photos that bring to life
the creative spirit and local influences of Andaz. For more information,
please visit www.andaz.com.
You can also find the Andaz brand on Facebook,
Twitter
and Instagram.

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 develop,
own, operate, manage, franchise, license or provide services to hotels,
resorts, branded residences and vacation ownership properties, including
under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt CentricTM,
Hyatt Regency®, Hyatt Place®, Hyatt House®, Hyatt Zilara
TM,
Hyatt Ziva
TM, Hyatt Residences® and Hyatt
Residence Club®
brand names and have locations on six
continents. As of September 30, 2015, the Company’s worldwide portfolio
consisted of 627 properties in 52 countries. For more information,
please visit www.hyatt.com.

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

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.

Contacts

Hyatt
Aurelia Vasquez, +1 312 780 5873
Aurelia.Vasquez@Hyatt.com