Hyatt Hotels Corporation says a Hyatt affiliate has entered into a master development agreement with LATAM Hotel Corp. to develop ten Hyatt Place hotels in Central America and Mexico.
Additionally, Hyatt affiliates have entered into franchise agreements with LATAM Hotel Corp. for the first five hotels: Hyatt Place Managua in Nicaragua, Hyatt Place Guatemala City in Guatemala, Hyatt Place San Salvador in El Salvador, and Hyatt Place San Pedro Sula and Hyatt Place Tegucigalpa in Honduras.
?We are delighted to be working with LATAM Hotel Corp. as we continue increasing the representation of the Hyatt Place brand throughout Latin America,? said Pat McCudden, senior vice president, real estate and development ? Latin America and Caribbean for Hyatt Hotels & Resorts. ?We believe Central America has strong economic growth potential, and we are excited to see these five hotels become the first Hyatt-branded hotels in their respective countries.?
Fernando Paiz, president of LATAM Hotel Corp. said, ?Hyatt Place is a top-performing brand that is rapidly expanding throughout the Americas and is becoming a favored option?among travelers in the markets that it is entering. Introducing the Hyatt name and culture of hospitality to Central America through Hyatt Place hotels allows us to tap into an important business and leisure travel market. It is a brand that offers the modern style and seamless experience that is desired by both business and leisure travelers.?
Nicaragua
Located in Nicaragua?s capital city of Managua, Hyatt Place Managua is expected to open in 2015. The 140-guestroom hotel is being developed on a 77,500 square foot site (7,400 square meters), conveniently located next to Galerias Santo Domingo, Managua?s premier shopping center, with access to over 130 stores and 20 restaurants and bars. The hotel will be 20 minutes from Augusto C. Sandino International Airport.
Guatemala
Located in Guatemala?s capital city of Guatemala City, Hyatt Place Guatemala City is expected to open in 2016. The 140-guestroom hotel is being developed on a 122,116 square foot site (11,345 square meters), as part of the Avia mixed-use development project located in the upscale area locally known as ?Zona Viva.? The project will be the most exclusive shopping and entertainment venue in Guatemala City and will include upscale retail, luxury condominiums, Class-A office space and a convention center. The hotel will be located 10 minutes from La Aurora International Airport.
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Source: David Phillips (2014). Hyatt Expanding in Mexico, Central America, Globe St. http://www.globest.com/news/12_848/international/hotel/Hyatt-Plans-Mexico-and-Central-America-Expansion-345397.html published Apr 29, 2014. Viewed Apr 30, 2014.