Hyatt Announces Plans for Hyatt Place Manatí in Puerto Rico
Hyatt Place Manatí is currently under construction and expected to open in early 2014
Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into an agreement for a Hyatt Place hotel in Manatí, Puerto Rico with Island Hospitality Partners, LLC, a joint venture of PRISA Group and McConnell Valdes Consulting. Island Hospitality is also the owner of Hyatt Place Bayamón Hotel & El Tropical Casino, which is currently under construction and is expected to open in 2014.
"We believe in the Hyatt Place brand and think the hotels will have strong appeal in both Bayamon and Manatí"
"We are glad to work with Island Hospitality on a second Hyatt Place hotel project in Puerto Rico," said Pat McCudden, senior vice president, real estate and development Hyatt Hotels & Resorts. "We believe that the Hyatt Place brand and the location of the hotel in Manatí will have strong appeal to business and leisure travelers visiting the region."
Hyatt Place Manatí, which is expected to open in early 2014, will have 104 guest rooms in a five-story building, with an adjoining 11,500 square foot casino, and a free-standing casual dining restaurant. The municipality of Manatí, located less than 40 miles west of San Juan, is headquarters to a host of multinational corporations and pharmaceutical companies, as well as the Manatí Medical Center and Doctors' Center Manatí, two of Puerto Rico's most prestigious hospitals.
"We believe in the Hyatt Place brand and think the hotels will have strong appeal in both Bayamon and Manatí," said Federico Stubbe, Jr., president of PRISA Group. "Hyatt Place Manatí & Casino and Hyatt Place Bayamón & El Tropical Casino will bring Hyatt's world-class hospitality to Puerto Rico."
Facilities and amenities of Hyatt Place Manatí will include spacious guestrooms, featuring a plush bed, Cozy Corner sofa, and flat panel TV; The Gallery, a social area with a comfortable coffeehouse vibe for guests to unwind or grab a bite to eat; an e-room with complimentary computer access and printing; complimentary full breakfast served daily in the Guest Kitchen; the Market with convenient food and beverage options, in-hotel dining, including a 24/7 Gallery Menu with fresh made meals and appetizers; the Café, an inviting bar featuring specialty coffees and teas, premium beer, wine and cocktails. Other amenities will include flexible meeting space, a 24-hour fitness center, outdoor swimming pool, and free Wi-Fi throughout the hotel.
Currently, there are more than 165 Hyatt Place hotels in operation in the United States, with more than 35 Hyatt Place hotels under development throughout the U.S., Europe, the Caribbean, China, Latin America, Southwest Asia, and the Middle East. The first two Hyatt Place hotels outside the United States are expected to open later this fall: Hyatt Place San Jose Pinares in San Jose, Costa Rica and Hyatt Place Hampi in Hampi, India.
About Hyatt Place
Launched in 2006, Hyatt Place brings to the upscale select-service hotel category the authentic hospitality for which Hyatt is known. Inspired by multitasking travellers' 24/7 lifestyle, Hyatt Place combines stylish design and practical amenities with forward-thinking technology and purposeful service. Spacious guestrooms feature multiple areas to work and relax, and include the Cozy Corner, an eight-foot sectional sofa sleeper; plush Hyatt Grand Bed™, and ergonomic work center. For more information, please visit www.hyattplace.com.
About Island Hospitality Partners
Island Hospitality Partners is a joint venture of PRISA Group and McConnell Valdes Consulting (McVC). PRISA and McVC have combined their expertise and resources in the planning, development, construction and operation of hospitality, residential and mixed used projects to form Island Hospitality Partners, LLC, creating a strong team capable of executing all necessary tasks for the successful development projects from conception to operation.
PRISA Group (PRISA) is a family-owned developer and builder of green residential communities and resort hospitality projects in Puerto Rico and Florida with over 6,000 units in planning and construction, representing a value of over $3 billion. The firm has delivered over 3,000 units in the last 20 years and is currently developing projects in Dorado, Vega Alta, Gurabo, San Lorenzo, and Humacao, Puerto Rico, as well as in Tampa, Florida. PRISA Group has received numerous awards, including Builder Member of the Decade and three Master Planned Community of the Year Awards by the National Association of Home Builders' Puerto Rico Chapter, as well as the highest honor bestowed upon Puerto Rico developer, the Frank Ramirez de Arellano Award.
PRISA Group is currently developing the $340 million Dorado Beach, a Ritz Carlton Reserve, the first in the Americas, presently in construction and opening December 2012. More information is available at www.prisagroup.com.
McConnell Valdes Consulting, Inc. (McVC) is a Puerto Rico corporation specializing in the planning, financing, development and marketing of hospitality and mixed-use real estate projects in Puerto Rico. McVC personnel have over 30 years of experience in the hospitality and real estate industries and have advised local and international clients in designing and executing complex hospitality and real estate projects in Puerto Rico, the Caribbean and Spain.
McVC is an affiliate of McConnell Valdés LLC. This affiliation provides the continuity and support of one of the nation's most respected Hispanic-owned law firms combined with the hospitality and real estate expertise and transactional track record of the professionals at McVC.
