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Business & Finance

Oceanwide Holdings Developing New Park Hyatt as Part of $1 Billion Oceanwide Plaza in Los Angeles, California

LOS ANGELES, CA. July 31, 2017 - Oceanwide Plaza, the first North American development by prominent international developer Oceanwide Holdings, is set to become one of the most significant mixed-use developments in the history of downtown Los Angeles. Oceanwide Plaza will encompass a variety of lifestyle offerings including a new five-star Park Hyatt hotel, a collection of curated retailers and restaurants and a refined residential offering bringing a new level of sophistication to L.A.’s sports and entertainment district.

Located directly adjacent to the Staples Center and L.A. Live, Oceanwide Plaza will comprise three residential and hotel towers along with a seven-story lifestyle podium anchored by an approximately 166,000-square-foot open-air galleria creating a vibrant new shopping, dining and entertainment destination. Nearly 700 feet of ribbon-shaped LED signage along Figueroa Street will wrap the generous lifestyle center as the character-defining hallmark of Oceanwide Plaza, greeting local guests and travelers from all over the world.

“As a leader in large-scale real estate development throughout the world, we’re honored to introduce Oceanwide Holding’s first venture in the United States, a mixed-use project that will magnificently reshape Downtown Los Angeles,” said Thomas Feng, CEO of Oceanwide Plaza LLC. “By staying true to our core value of creating new urban life, Oceanwide Plaza will deliver unprecedented inspiration and a distinct lifestyle that is both urban in design and serene in experience. As part of this mission, we’re delighted to unveil Park Hyatt Los Angeles hotel as the first in what will be a series of marquee partnerships for Oceanwide Plaza that will further define L.A. as a premier destination for all who seek a transformative new entertainment experience.”

Park Hyatt Los Angeles will be the sixth U.S. location for the luxury global hotel brand. The 184-room hotel, including 34 suites, will feature a sophisticated character courtesy of acclaimed international design firm Studio Munge. The Park Hyatt brand’s signature approach to service and masterful attention to detail, along with its strategically chosen location within Oceanwide Plaza will offer a personalized experience yet to be seen in Los Angeles.

“The Los Angeles market has seen unprecedented growth over the last several years, and we know it is a destination where our guests are traveling,” said David Tarr, senior vice president of real estate and development for the Americas, Hyatt. “We are thrilled to be bringing the Park Hyatt brand to this critical market and placing it in an ideal location within Oceanwide Plaza.”

Imaginatively designed by CallisonRTKL to serve as an oasis from the bustling energy of downtown, the luxury hotel will be connected to the 100-foot retail and amenity podium known as The Collection at Oceanwide Plaza. The retail space design by the global architecture firm will lend to experience-driven guest accommodations amid a dynamic environment for innovative retailers to showcase unique merchandising concepts and sought-after products.

The highly-anticipated residential offering within Oceanwide Plaza will set a new standard for exceptional high-rise living. The 504 architecturally inspired contemporary residences will provide full concierge services, along with an array of indoor and outdoor services including a private amenity deck and more than two-acre outdoor sanctuary to provide endless options for leisure, gathering, entertainment, fitness and relaxation.

Scheduled for completion in early 2019, Oceanwide Plaza is owned by Oceanwide Plaza LLC, which operates as a subsidiary of Beijing-based Oceanwide Holdings Co. Ltd. one of the largest non-government controlled conglomerates in China. For more information, visit www.oceanwideplaza.com.

About Oceanwide Holdings

Oceanwide Holdings is one of the largest non-government controlled conglomerates in China, engaged in the energy, education and media industries as well as the development, management, finance, investment and sale of upscale and prominent high-rise residential and mixed-use commercial properties. Beijing-based Oceanwide Holdings sets out to provide value to existing communities in core international markets such as Shanghai and Los Angeles. The company’s portfolio includes over eight million square meters of property in various stages of development. Oceanwide Holdings’ first foray into the U.S. market will introduce Oceanwide Plaza to downtown Los Angeles, followed by projects in New York, San Francisco and Hawaii. To learn more, visit www.fhkg.com.

About Park Hyatt

Park Hyatt hotels provide discerning, affluent business and leisure guests with elegant and luxurious accommodations. Guests of Park Hyatt hotels receive highly attentive personal service in an intimate environment. Located in several of the world's premier destinations, each Park Hyatt hotel is custom designed to combine sophistication with a distinctive regional character. Park Hyatt hotels feature well-appointed guestrooms, meeting and special event spaces for groups, critically acclaimed art, food and beverage program, and signature restaurants featuring award-winning chefs. There are currently 38 Park Hyatt hotels in the following locations: Abu Dhabi, Beaver Creek, Beijing, Buenos Aires, Busan, Canberra, Changbaishan, Carlsbad, Chennai, Chicago, Dubai, Goa, Guangzhou, Hamburg, Hyderabad, Istanbul, Jeddah, Maldives, Mallorca, Melbourne, Mendoza, Milan, Moscow, New York, Ningbo, Paris, Saigon, Sanya, Seoul, Shanghai, Siem Reap, Sydney, Tokyo, Toronto, Vienna, Washington, D.C., Zanzibar, Zurich. For more information, please visit www.parkhyatt.com.

Coming Up In The November Online Hotel Business Review




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Feature Focus
Architecture & Design: Authentic, Interactive and Immersive
If there is one dominant trend in the field of hotel architecture and design, it’s that travelers are demanding authentic, immersive and interactive experiences. This is especially true for Millennials but Baby Boomers are seeking out meaningful experiences as well. As a result, the development of immersive travel experiences - winery resorts, culinary resorts, resorts geared toward specific sports enthusiasts - will continue to expand. Another kind of immersive experience is an urban resort – one that provides all the elements you'd expect in a luxury resort, but urbanized. The urban resort hotel is designed as a staging area where the city itself provides all the amenities, and the hotel functions as a kind of sophisticated concierge service. Another trend is a re-thinking of the hotel lobby, which has evolved into an active social hub with flexible spaces for work and play, featuring cafe?s, bars, libraries, computer stations, game rooms, and more. The goal is to make this area as interactive as possible and to bring people together, making the space less of a traditional hotel lobby and more of a contemporary gathering place. This emphasis on the lobby has also had an associated effect on the size of hotel rooms – they are getting smaller. Since most activities are designed to take place in the lobby, there is less time spent in rooms which justifies their smaller design. Finally, the wellness and ecology movements are also having a major impact on design. The industry is actively adopting standards so that new structures are not only environmentally sustainable, but also promote optimum health and well- being for the travelers who will inhabit them. These are 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.