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 November Online Hotel Business Review

Feature Focus
Architecture & Design: Original, Authentic and Localized
Corporate hotel developers once believed that their customers appreciated a homogenous design experience; that regardless of their physical location, they would be reassured and comforted by a similar look, feel and design in all their brand properties. Inevitably this led to a sense of impersonality, predictability and boredom in their guests who ultimately rejected this notion. Today's hotel customer is expecting an experience that is far more original and authentic - an experience that features a design aesthetic that is more location-oriented, inspired by local cultures, attractions, food and art. Architects and designers are investing more time to engage the local culture, and to integrate the unique qualities of each location into their hotel design. Expression of this design principle can take many shapes and forms. One trend is the adaptive reuse of existing facilities - from factories to office buildings - as a strategic way to preserve and affirm local culture. Many of these projects are not necessarily conversions of historic properties into grand, five-star landmark hotels, but rather a complete transformation of historic structures into mixed-use, residential, and hotel projects that take full advantage of their existing location. Another trend is the addition of local art into a hotel's design scheme. From small sculptures and photography to large-scale installations, integrating local art is an effective means to elevate and enhance a guest's perception and experience of the hotel. These are just a few of the current trends in the fields of hotel architecture and design that will be examined in the November issue of the Hotel Business Review.