Acquisitions & Hotel Openings

Hyatt and Cobbo Bay Developers Announce Hyatt Regency Cap Cana

First Hyatt-branded hotel in the Dominican Republic to include villas and residences

March 9, 2011 - Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate and Cobbo Bay Developers SA signed a management and licensing agreement for Hyatt Regency Cap Cana Hotel, Villas, and Residences to be located in Punta Cana, the Dominican Republic. A Hyatt affiliate will be a minority equity investor in an affiliate of Cobbo Bay Developers, the entity which will develop and own the hotel, villas, and residences.

Slated to open in early 2014, the new 201-room Hyatt Regency Cap Cana will be located on Juanillo Beach within the exclusive master planned resort community of Cap Cana, which currently includes a marina; the Punta Espada Golf Course, the first of three planned Jack Nicklaus signature golf courses, two beach clubs, and several single family and multi-family residential developments. In addition to the hotel, the project will also include 46 Hyatt Regency-branded residences and 12 villas. Located within the Dominican Republic’s preeminent resort development, Hyatt Regency Cap Cana will boast more than 1,300 feet of white sand beachfront.

“The development of Hyatt Regency Cap Cana represents an outstanding opportunity to further Hyatt’s expansion in the Caribbean and on rapidly growing island of the Dominican Republic, which welcomed over 4 million visitors in 2010,” said Pat McCudden, senior vice president, real estate and development – Latin America, Caribbean, and Mexico for Hyatt Hotels & Resorts. “Having a presence in Punta Cana will further Hyatt’s goal of becoming the most preferred brand in all the segments we serve by adding a hotel in this key resort destination where Hyatt is not currently represented.”

“We are thrilled to be involved in the introduction of the Hyatt Regency brand to the Dominican Republic,” said Jesus Barderas, President of Cobbo Bay Developers SA. “This introduction is a testament to the brand’s global appeal, and Hyatt’s well-established reputation as a preferred management company.”

The hotel will feature of variety of amenities including several restaurants; a pool; a spa with eight treatment rooms; a fitness center; and Camp Hyatt, a resort program created especially for children. Additionally, the property will offer more than 10,000 square feet of meeting and function space. The hotel will be located approximately 10 minutes by car from Punta Cana International Airport.

Hyatt Regency is an upscale brand of full-service hotels specializing in large meetings and conventions, located in urban, suburban, airport, exhibition, convention centers and leisure destinations worldwide.

About Cobbo Bay Developers SA
Cobbo Bay Developers, S.A. is an entity sponsored by Jesus Barderas, a Spanish entrepreneur with multiple real estate investment ventures in the Dominican Republic and Panama.

The property developer is Leading Property Group (LPG), a development company with a vast track record in the region. LPG is lead by Benny Guevara, a seasoned hotelier and resort developer.

Coming Up In The March Online Hotel Business Review




Feature Focus
Human Resources: Inspiring a Journey of Success
In an increasingly competitive environment where hotels are competing to attract, and more importantly, to keep top talent, Human Resource managers are realizing the need to focus on improving their Employee Experience. Smart managers are embracing the idea of Employee Wellness which translates into a system of physical, mental, emotional, and purposeful well-being. Some organizations are even providing free counseling for their employees and their dependents. The goal is to nurture, support and engage with their employees in a way that increases productivity, improves customer service, enhances loyalty, and creates a more harmonious work environment for all. Along with this development is the need for more effective, ongoing training. Many HR managers rely on external training firms for this, but there is a growing trend which taps the experience and expertise that already exists within the organization. For example, younger employees likely have greater knowledge of social media which an older generation might struggle with. Harnessing this peer-to-peer learning can be an efficient and cost effective way of increasing skills, and as a result, the knowledge transferred is likely to be more acceptable and relevant. Finally, HR managers need to foster an environment that empowers people and taps into their full potential, inspiring a personal journey of success. The March Hotel Business Review will take a look at some of the strategies and techniques that human resource directors are currently developing in order to achieve success.