Hyatt announces Andaz Turks & Caicos at Grace Bay hotel and residences expected to open in 2021

CHICAGO, ILLINOIS, 2018-Sep-28 — /Travel PR News/ — Hyatt Hotels Corporation (NYSE: H) announced today(September 25, 2018) plans for Andaz Turks & Caicos at Grace Bay, a hotel and residences development expected to open in 2021, marking the Andaz brand’s first property in the Caribbean. To be developed by Vista Development Ltd. of Pronet Capital, LLC, the property will stretch more than 5.5 acres providing a new level of luxury hospitality and real estate on the archipelago’s famed Grace Bay Beach.

The Andaz brand delivers thoughtful, unscripted service for curious-minded guests in search of inspiring local experiences. Andaz Turks & Caicos at Grace Bay will be situated on the celebrated western end of Grace Bay Beach, ranked the number one beach in the world by TripAdvisor’s Traveler Choice Awards 2018. With prized real estate next to the Bight Reef, the resort will fully immerse guests into the locale. Aligned with the brand’s ethos of uniquely bringing local culture to life, the property is being thoughtfully designed by RAD Architecture Inc. with modern, light-filled interiors by Francisco Jove of Modus Operandi, designer of Andaz Mayakoba Resort Riviera Maya and Andaz Costa Rica Resort at Peninsula Papagayo, who will together reveal the contemporary, luxury lifestyle of the Andaz brand.

“We are thrilled to announce development plans for the first Andaz branded resort and residences in the Caribbean,” said Myles McGourty, senior vice president, Latin America & Caribbean, Hyatt. “We look forward to working with Vista Development Ltd. to introduce the inspiring concept of this luxury lifestyle Hyatt brand to a world-class destination like Turks & Caicos’ coveted Grace Bay.”

The resort will be comprised of two buildings, the 59-key hotel and the 74-unit branded residences, with co-located amenities. Andaz Turks & Caicos Residences at Grace Bay will include studios, one-bedroom, two-bedroom and three-bedroom units, as well as penthouses with four bedrooms. Plans call for residential owners to have the option to participate in a hotel rental program, managed by Andaz Turks & Caicos at Grace Bay.

The thoughtfully designed master plan will offer guests and owners exceptional dining choices at four restaurants and bars including an elevated venue featuring unobstructed panoramic views. Health and fitness amenities at the state-of-the-art indoor wellbeing facility will include an outdoor garden yoga studio and a full service indoor and outdoor spa with dedicated luxury concierge services.

“It’s an honor to share our vision for the project in tandem with such a reputable flagship brand as Andaz,” said Matt McDonald, director of Vista Development, Ltd. “Through our more than 30 collective years of work in the Turks & Caicos market, we’ve recognized the uniqueness of the location and the potential for an unparalleled offering. We look forward to seeing the project evolve with Hyatt and become part of the community and culture of Turks & Caicos.”

For more information, please visit andaz.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 Andaz

Global in scale while local in perspective, the Andaz brand of luxury lifestyle hotels weaves the sights, sounds, and tastes of each property’s surroundings for a distinct experience. Through thoughtful, unscripted service, Andaz hotels enable guests to go beyond the familiar and satiate their curiosity while immersing them in the spirit of the eclectic culture around them. Seventeen Andaz hotels are currently open: Andaz 5th Avenue and Andaz Wall Street in New York, Andaz San Diego, Andaz West Hollywood, Andaz Napa, Andaz Scottsdale Resort & Spa, Andaz Savannah, Andaz Maui at Wailea Resort, Andaz Ottawa ByWard Market, Andaz Mayakoba Resort Riviera Maya, Andaz Costa Rica Resort at Peninsula Papagayo, Andaz London Liverpool Street, Andaz Amsterdam Prinsengracht, Andaz Singapore, Andaz Delhi, Andaz Xintiandi in Shanghai, and Andaz Tokyo Toranomon Hills. For more information, please visit andaz.com. Follow @Andaz on Facebook, Twitter and Instagram, and tag photos with #WhenInAndaz.

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 June 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.

About Vista Development Ltd.

Vista Development, Ltd. and ProNet Capital, LLC, Vista’s Colorado-based sister company, was co-founded in 2000 by Mr. McDonald as a boutique private equity and real estate development firm with an established track record in the development and co-development of multifamily properties in the Seattle area and hospitality properties primarily in the Caribbean market. With the addition of Mr. Jon Siegel in 2004, ProNet started to focus more heavily on the Caribbean Hospitality market, and Vista Development was formed as the Turks & Caicos entity to ProNet.  Vista is joined by Ramez Hakoura, a long-time local TCI businessman, John Fair who is a co-founder of the Grace Bay Club, and Grand Turk developer Dr. Peter Lue.

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 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.

MEDIA CONTACTS: 

Carla Santiago
Hyatt – Latin America & Caribbean
+1-305-779-2207
carla.santiago@hyatt.com

Gloria Kennett
Hyatt
+1-312-780-5506
gloria.kennett@hyatt.com

Source: Hyatt Hotels Corporation

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