Business & Finance

Lotte Tour Development and Hyatt Hotels Enter Agreement for New Build Grand Hyatt Hotel in Jeju City, South Korea

The hotel is to be part of Lotte Tour's integrated resort project on Jeju Island, South Korea and is expected to be the second largest Grand Hyatt hotel in the world

CHICAGO, IL. August 30, 2017 - Hyatt Hotels Corporation today announced that a Hyatt affiliate has entered into a management agreement with Lotte Tour Development Co., Ltd. for a Grand Hyatt branded hotel in Jeju City, Jeju Island, South Korea. The new hotel will mark Hyatt’s sixth property in the country, complementing Grand Hyatt Seoul and is expected to be the second largest Grand Hyatt hotel in the world.

Grand Hyatt Jeju will make its home in the center of Jeju City, the capital and largest city of Jeju Province. Located south of the Korean Peninsula and only an hour flight from Seoul, the island has become one of the most popular destinations in Korea outside of Seoul.

In 2016, over 12 million passengers flew between Seoul and Jeju, making the route one of the world’s busiest passenger air routes. The city has experienced a surge in Chinese demand within the past decade, seeing more than 3 million tourists from mainland China last year, and welcoming over 10 million visitors annually from South Korea, Japan and China.

“We are extremely pleased to be collaborating with Lotte Tour for the first time. As one of South Korea’s leading multinational corporations, Lotte Tour has a deep legacy of travel and hospitality in the country,” said David Udell, Group President, Asia-Pacific at Hyatt. “We look forward to working with Lotte Tour to create a new vision of the Grand Hyatt brand in Jeju, reflective of the island’s unique environment, and providing travelers with our first-class service and hospitality.”

Lotte Tour will be the lead developer of the Dream Tower Integrated Resort project in Jeju, along with Greenland Group, one of China’s largest state-run real estate developers. The project will feature two towers as well as a retail podium.

Grand Hyatt Jeju will have 1,600 rooms, 11 food and beverage outlets, approximately 1,200 square meters of meeting space, indoor and outdoor pools, fitness center, two spas (Western and Korean) with a total of eight treatment rooms and two kids clubs.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

About Grand Hyatt

Around the world, Grand Hyatt hotels unlock the extraordinary in every moment by creating experiences beyond expectation. Located at the crossroads of local culture and global business within major gateway cities and resort destinations, each Grand Hyatt hotel is uniquely designed to reflect its own distinct environment and provide a hub for travelers and locals alike. Grand Hyatt hotels exemplify the pursuit of life lived grandly offering guests superior service, first-class accommodations and an abundance of options within a multicultural backdrop of dramatic architecture and innovative design. Grand Hyatt properties boast inventive restaurants, luxury spas, fitness centers, and business and meeting facilities. Grand Hyatt hotels stand to make every moment memorable through their commitment to living grand every day. For additional information or to make a reservation, please visit www.grandhyatt.com.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 13 premier brands. As of June 30, 2017 the Company's portfolio included 731 properties in 56 countries. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to create value for shareholders, build relationships with guests and attract the best colleagues in the industry. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences and vacation ownership properties, including under the Park Hyatt®, Miraval®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound Collection by Hyatt™, Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™ and Hyatt Residence Club® brand names and have locations on six continents. For more information, please visit www.hyatt.com.

Contact:
Glennie Janssen
glennie.janssen@hyatt.com
+312 750 6120

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