Rebrand plans include $110 million
transformative renovation to hotel’s guestrooms and public areas,
as well as an expansion of meeting and event space
Hyatt Hotels Corporation (NYSE: H) today announced the planned
rebranding of Hyatt Regency Scottsdale Resort & Spa at Gainey
Ranch to Grand Hyatt Scottsdale Resort & Spa in late 2024,
which will mark the first Grand Hyatt hotel in Arizona. The hotel’s
ownership group, Xenia Hotels and Resorts, plans to invest
approximately $110 million to fully transform the property into a
Grand Hyatt hotel, creating a bold, vibrant and elevated experience
for guests. The resort will undergo extensive renovations and
enhancements of its guestrooms; pools; food and beverage outlets;
well-known Spa Avania and Fitness center; and key public areas and
amenities, including the expansion of the hotel’s indoor and
outdoor meeting and event spaces.
Renovation of Hyatt Regency Scottsdale Resort & Spa at
Gainey Ranch is expected to begin in early summer 2023 in a phased
approach with an anticipated completion in late 2024. The hotel
will remain in operation during the renovation process – minimizing
impact to the guest experience as much as possible.
“Hyatt continues to prioritize our brands in key leisure
destinations that matter most to our guests, World of Hyatt members
and customers," said Pete Sears, Americas group president, Hyatt.
“The planned renovation of Hyatt Regency Scottsdale will be truly
remarkable, and we are excited to introduce the Grand Hyatt brand’s
inspiring and immersive experiences to Arizona. We are grateful for
Xenia’s continued investment in this special hotel.”
Grand Hyatt Scottsdale Resort & Spa will offer guests
unparalleled service and spectacular experiences surrounded by the
majestic McDowell Mountains, celebrating the best of what the
destination has to offer. Reflecting all that is grand in locales
around the globe, including Beijing, Dubai and Istanbul, Grand
Hyatt hotels connect guests to the most iconic experiences,
landmarks and cultural touchstones of their destination, in
spectacular fashion. With their awe-inspiring architecture, smart,
sophisticated design, and superior service and amenities to match,
Grand Hyatt hotels deliver a luxury travel experience beyond all
expectation.
The 27-acre resort is ideally situated in the heart of one of
Scottsdale’s most prestigious areas, offering one of the most
exciting 2.5-acre water playgrounds in Arizona and top-rated golf
courses in the southwest with an array of activities to enjoy and
experience. The property recently completed enhancements to the
grand entryway, which now features a one-of-a-kind sculptural
installation, designed and created by artist and architect Paolo
Soleri. Additionally, guests can enjoy the beauty of the Sonoran
landscape at the new Desert Garden event venue, available for
weddings, meetings and social activities.
To learn more about the Grand Hyatt brand, please visit
grandhyatt.com. For more information, please visit
hyattregencyscottsdale.com.
The term “Hyatt” is used in this release for convenience to
refer to Hyatt Hotels Corporation and/or one or more of its
affiliates. The terms “Xenia” or “Xenia Hotels & Resorts” are
used in this release for convenience and refer to Xenia Hotels
& Resorts, Inc. and/or one or more of its affiliates.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading
global hospitality company guided by its purpose – to care for
people so they can be their best. As of September 30, 2022, the
Company’s portfolio included more than 1,200 hotels and
all-inclusive properties in 72 countries across six continents. The
Company's offering includes brands in the Timeless Collection,
including Park Hyatt®, Grand Hyatt®, Hyatt
Regency®, Hyatt®, Hyatt Residence Club®, Hyatt
Place®, Hyatt House®, and UrCove; the Boundless
Collection, including Miraval®, Alila®,
Andaz®, Thompson Hotels®, Hyatt Centric®, and
Caption by Hyatt; the Independent Collection, including
The Unbound Collection by Hyatt®, Destination by
Hyatt™, and JdV by Hyatt™; and the Inclusive Collection,
including Hyatt Ziva®, Hyatt Zilara®, Zoëtry®
Wellness & Spa Resorts, Secrets® Resorts & Spas,
Breathless Resorts & Spas®, Dreams® Resorts &
Spas, Hyatt Vivid Hotels & Resorts, Alua
Hotels & Resorts®, and Sunscape® Resorts & Spas.
Subsidiaries of the Company operate the World of Hyatt® loyalty
program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC
destination management services, and Trisept Solutions® technology
services. For more information, please visit www.hyatt.com.
About Xenia Hotels & Resorts, Inc.
Xenia Hotels & Resorts, Inc. is a self-advised and
self-administered REIT that invests in uniquely positioned luxury
and upper upscale hotels and resorts, with a focus on the top 25
lodging markets as well as key leisure destinations in the United
States. The Company owns 32 hotels comprising 9,508 rooms across 14
states. Xenia’s hotels are in the luxury and upper upscale segments
and operated and/or licensed by industry leaders such as Marriott,
Hyatt, Kimpton, Fairmont, Loews, Hilton, The Kessler Collection,
and Davidson. For more information on Xenia’s business, refer to
the Company website at www.xeniareit.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
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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, but are not limited
to, risks associated with the acquisition of Apple Leisure Group,
including successful integration of the Apple Leisure Group
business; the duration and severity of the COVID-19 pandemic or any
additional resurgence and the pace of recovery following the
pandemic or any additional resurgence; the short and long-term
effects of the COVID-19 pandemic, including on the demand for
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confidence; the impact of actions taken by governments, businesses,
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following economic downturns; global supply chain constraints and
interruptions, rising costs of construction-related labor and
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that may not be fully offset by increases in revenues in our
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lodging segments; levels of spending in business, leisure, and
group segments as well as consumer confidence; declines in
occupancy and average daily rate; limited visibility with respect
to future bookings; loss of key personnel; domestic and
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outbreaks of pandemics or contagious diseases, or fear of such
outbreaks; our ability to successfully achieve certain levels of
operating profits at hotels that have performance tests or
guarantees in favor of our third-party owners; the impact of hotel
renovations and redevelopments; risks associated with our capital
allocation plans, share repurchase program, and dividend payments,
including a reduction in, or elimination or suspension of,
repurchase activity or dividend payments; the seasonal and cyclical
nature of the real estate and hospitality businesses; changes in
distribution arrangements, such as through internet travel
intermediaries; changes in the tastes and preferences of our
customers; relationships with colleagues and labor unions and
changes in labor laws; 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 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; the timing
of acquisitions and dispositions and our ability to successfully
integrate completed acquisitions with existing operations; failure
to successfully complete proposed transactions (including the
failure to satisfy closing conditions or obtain required
approvals); our ability to successfully execute on our strategy to
expand our management and franchising business while at the same
time reducing our real estate asset base within targeted timeframes
and at expected values; declines in the value of our real estate
assets; unforeseen terminations of our management or franchise
agreements; changes in federal, state, local, or foreign tax law;
increases in interest rates, wages, and other operating costs;
foreign exchange rate fluctuations or currency restructurings; lack
of acceptance of new brands or innovation; general volatility of
the capital markets and our ability to access such markets; changes
in the competitive environment in our industry, including as a
result of the COVID-19 pandemic, industry consolidation, and the
markets where we operate; our ability to successfully grow the
World of Hyatt loyalty program and Unlimited Vacation Club paid
membership program; cyber incidents and information technology
failures; outcomes of legal or administrative proceedings;
violations of regulations or laws related to our franchising
business; and other risks discussed in the Company’s filings with
the U.S. Securities and Exchange Commission (“SEC”), including our
annual report on Form 10-K and our Quarterly Reports on Form 10-Q,
which filings are available from the SEC. 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
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forward-looking statements, no inference should be drawn that we
will make additional updates with respect to those or other
forward-looking statements.
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Jacqueline King Hyatt jacqueline.king@hyatt.com
Hyatt Hotels (NYSE:H)
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