Slated for late 2023, the 168-room Thompson
Palm Springs will celebrate the spirit of the famed California
destination
Hyatt Hotels Corporation (NYSE: H) announced today plans for the
168-room Thompson Palm Springs, which will join the award-winning
luxury lifestyle Thompson Hotels portfolio and mark the second
Thompson Hotels property in California. Thompson Palm Springs is
expected to open in late 2023 and will offer panoramic views of the
San Jacinto Mountains and the city of Palm Springs. The development
signals Hyatt’s commitment to growing its luxury lifestyle
portfolio in key growth markets that matter to guests and World of
Hyatt members.
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the full release here:
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Thompson Palm Springs Exterior Rendering
(Photo: Business Wire)
Developed by Dallas-based Hall Group and designed by interior
design firm B2 Architecture + Design and architect SMS
Architecture, Thompson Palm Springs will feature modern,
groundbreaking design in the heart of the city. Unique guestroom
bungalows will be surrounded by two outdoor pools, gardens, lounge
areas and winding walking paths, immersing visitors in the natural
landscape of Palm Springs. Guests can expect additional amenities
including a signature restaurant helmed by a world-class chef,
sought-after indoor and outdoor bar and lounges, a well-appointed
spa and fitness concept, and approximately 8,000 square feet of
flexible meeting and event space. Thompson Palm Springs will also
offer over 20,000 square feet of ground-level retail and restaurant
space along Downtown’s iconic Palm Canyon Drive which will include
HALL Napa Valley, a 3,400 square foot tasting room from owners
Craig & Kathryn Hall showcasing selections from their family of
wines: HALL, WALT and BACA. The hotel’s idyllic location will
provide guests with access to the community’s thriving arts and
culture scene including museums, art galleries, boutiques and bars
and restaurants.
Thompson Palm Springs will be led by general manager Jeffrey
Miller, who will oversee all operations and commercial strategies
for the hotel. A Palm Springs local who has been enjoying the
destination for decades, Miller joins the hotel from Andaz
Scottsdale Resort & Bungalows where he served as general
manager for three years. “We are excited to welcome guests and
locals to Thompson Palm Springs, which will bring-to-life the
iconic spirit of the destination through striking design,
innovative culinary offerings and locally inspired guest
experiences,” said Miller. “Palm Springs has always been a diverse
destination where local culture is celebrated, and Thompson Palm
Springs will embody this energy by serving as a dynamic home-base
for guests, local tastemakers and emerging creatives to connect
with each other and what inspires them. We truly desire to be a
local’s destination.”
“With design, art and entertainment at the heart of the Thompson
Hotels brand experience, downtown Palm Springs is the ideal
location for one of the brand’s newest hotels,” said Kimo Bertram,
vice president of real estate and development, Hyatt. “Thompson
Palm Springs will add to the growing number of properties within
our Thompson Hotels brand portfolio throughout California and
globally. We look forward to collaborating with Hall Group to
introduce this new lifestyle hotel to the market, that will
epitomize the world-renowned sophistication and unique culture of
Palm Springs.”
Thompson Palm Springs will build on Hyatt’s intentional growth
strategy in key leisure markets, joining 18 Thompson Hotels
properties worldwide, with four additional properties expected to
open by the end of 2024 in destinations like Houston, South Beach
Miami, and Monterrey, Mexico, as well as the brand’s entry into
Asia Pacific in Shanghai.
To learn more about the Thompson Hotels brand, please visit
www.thompsonhotels.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.
About HALL Group
HALL Group is a Dallas-based, multibillion-dollar, private
company made up of a diverse group of subsidiaries spanning real
estate, finance, winemaking, and venture capital. Founded in 1968,
the company focuses on four key areas: development and ownership of
office, multifamily and hospitality real estate assets including
HALL Park, a 162-acre, mixed-use development in Frisco, Texas with
a masterplan underway that, when complete, will include 10 million
square feet of commercial assets; HALL Structured Finance, a
national commercial real estate construction and bridge loan
lender, primarily in the hotel and multifamily sectors; HALL Family
Wines, a producer of high-quality California wines that includes
the HALL, WALT and BACA brands; and angel- and seed-round funding
for select venture capital investments. HALL Group also owns the
HALL Collection, an immense compilation of local and international
artwork on display throughout the company’s properties. For more
information, visit hallgroup.com.
About Thompson Hotels
Thompson Hotels have transformed conventional hospitality into
dynamic cultural moments inspired by the surrounding streets since
the brand’s first hotel opened in downtown NYC more than 20 years
ago. Today, the brand continues to channel local creative energy
into its expanding international portfolio of properties, with
restaurants helmed by top culinary names, lobbies that double as
cultural epicenters, boundary-pushing music programs, and more. The
result is a magnetic hub built for collective gathering, where
distinct design is an ethos and a signature part of the guest
experience. Each hotel serves as an inspiring home base for guests
and creatives alike to connect with each other and what moves
culture forward. The Thompson Hotels portfolio of luxury lifestyle
hotels currently includes The Beekman, Gild Hall and Thompson
Central Park New York in New York City; Thompson Washington D.C.;
Thompson Nashville; Thompson Seattle; Thompson Chicago; The Cape in
Los Cabos, Mexico; Thompson Playa del Carmen on Mexico’s Riviera
Maya; Thompson Zihuatanejo on Mexico’s Pacific Coast; Thompson
Dallas, Thompson San Antonio, and Thompson Austin in Texas;
Thompson Savannah; Thompson Hollywood; Thompson Buckhead; Thompson
Denver; and Thompson Madrid in Spain. Follow @ThompsonHotels on
Facebook, Twitter, and Instagram for news and updates. For more
information, please visit www.thompsonhotels.com.
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 March 31, 2023, the
Company’s portfolio included more than 1,250 hotels and
all-inclusive properties in 75 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®, Hyatt Studios, and
UrCove; the Boundless Collection, including Miraval®,
Alila®, Andaz®, Thompson Hotels®, Dream®
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.
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. These
statements include statements about our plans, strategies, outlook,
occupancy, the amount by which the Company intends to reduce its
real estate asset base, the expected amount of gross proceeds from
the sale of such assets, and the anticipated timeframe for such
asset dispositions, the number of properties we expect to open in
the future, booking trends, RevPAR trends, our expected Adjusted
SG&A expense, our expected capital expenditures, our expected
net rooms growth, our expected system-wide RevPAR, our expected
one-time integration costs, financial performance, prospects or
future events 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, but are not limited to: general economic uncertainty in
key global markets and a worsening of global economic conditions or
low levels of economic growth; the rate and the pace of economic
recovery following economic downturns; global supply chain
constraints and interruptions, rising costs of construction-related
labor and materials, and increases in costs due to inflation or
other factors that may not be fully offset by increases in revenues
in our business; risks affecting the luxury, resort, and
all-inclusive 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 international political and geo-political conditions, including
political or civil unrest or changes in trade policy; hostilities,
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tsunamis, tornadoes, hurricanes, droughts, floods, wildfires, oil
spills, nuclear incidents, and global outbreaks of pandemics or
contagious diseases, or fear of such outbreaks; the pace and
consistency of recovery following the COVID-19 pandemic and the
long-term effects of the pandemic, additional resurgence, or
COVID-19 variants, including with respect to global and regional
economic activity, travel limitations or bans, the demand for
travel, transient and group business, and levels of consumer
confidence; the ability of third-party owners, franchisees, or
hospitality venture partners to successfully navigate the impacts
of the COVID-19 pandemic, any additional resurgence, or COVID-19
variants or other pandemics, epidemics or other health crises; 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 the capital
necessary to fund current operations or implement our plans for
growth; risks associated with potential acquisitions and
dispositions and our ability to successfully integrate completed
acquisitions with existing operations, including with respect to
our acquisition of Apple Leisure Group and Dream Hotel Group and
the successful integration of each business; 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; risks associated with
the introduction of new brand concepts, including 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
licensing businesses and our international operations; and other
risks discussed in the Company's filings with the SEC, including
our annual report on Form 10-K, which filings are available from
the SEC. All forward-looking statements attributable to us or
persons acting on our behalf are expressly qualified in their
entirety by the cautionary statements set forth above. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230522005385/en/
Bianca Flores Hyatt Bianca.Flores@hyatt.com
thompsonpalmsprings@candrpr.com
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