Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Claremont Group LLC, a New York-based real estate development company, for a Hyatt Regency hotel in the Kurdistan region of Iraq. Expected to open in 2017, Hyatt Regency Sulaymaniyah will be the first Hyatt-branded hotel in Iraq.
?Bringing the Hyatt brand to Iraq is one of the most exciting projects we have in development. Kurdistan is a stable and prosperous area of Iraq, and as a result, the economy is growing and demand for lodging accommodations is rising,? said Peter Norman, senior vice president, real estate and development, for Hyatt Hotels & Resorts in Europe, Africa and the Middle East. ?There is great potential for growth in Iraq and throughout the Middle East, and we look forward to introducing the Hyatt brand to guests visiting the region. Hyatt Regency Sulaymaniyah will offer a full range of services, amenities and dining options to meet the needs of both business and leisure travelers.?
?We are delighted to work with Hyatt on the first Hyatt Regency hotel in the country,? said Alex Lari, Claremont Group LLC. ?We believe the strength of Hyatt?s service and culture, as well as its depth of operational expertise, will bring great value to the new hotel.?
Hyatt Regency Sulaymaniyah will offer 210 guestrooms, as well as an all-day dining restaurant, more than 17,500 square feet (1,660 square meters) of meeting and event space, a fitness center, a five-treatment room spa, and three pools. Located in the city of Sulaymaniyah, 210 miles northeast of Baghdad, Hyatt Regency Sulaymaniyah will be the only hotel in Hawary Shar Park, a 240-acre leisure and entertainment park currently under development, which will include a shopping mall, a golf course and zoological gardens.