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 September Online Hotel Business Review


Feature Focus
Hotel Group Meetings: Demand is Trending Up
Corporations and businesses are once again renewing their investments in people, strategic planning, and training and development. As a result, all indicators point to 2016 being a robust year for the hotel group meetings business. Group demand is strong and rates, especially during peak periods, are trending up. Still, hotels must continue to evolve to meet the changing expectations of group meeting planners and their clients. There are several trends and factors that are driving decision-making which planners have identified as being essential to the process. Though geographic location and room rates continue to be the most important factors when selecting a host property, food and beverage choices are becoming increasingly influential. Planners understand the value of first-class culinary options as these are often used to facilitate networking experiences. Another critical factor is the availability of sufficient bandwidth for high-speed wired and wireless connectivity to the internet. In addition, in an effort to eliminate unsightly and unwieldy power cords, planners are requesting the installation of mobile-device charging stations. These portable charging stations (which do not require devices to be plugged in) can be conveniently placed in common areas or directly in meeting rooms. Finally, there is a greater emphasis on teambuilding activities that are intended to challenge groups, and bring them closer together. Some hotels are offering scenic walking trails, GPS-aided scavenger hunts, kayaking into secluded coves or rollerblading on oceanfront boardwalks, among many other recreational activities. The September Hotel Business Review will examine issues relevant to group business and will report on what some hotels are doing to promote this sector of their operations.