Acquisitions & Hotel Openings

Set to Open in 2018, The Párisi Udvar Hotel in Budapest to Join The Unbound Collection by Hyatt

CHICAGO, IL. October 3, 2017 – Hyatt Hotels Corporation (NYSE: H) today announced plans for the Párisi Udvar Hotel in Budapest – joining Hôtel du Louvre in Paris as the second hotel in Europe for The Unbound Collection by Hyatt and third outside of the U.S.

Hyatt has entered into a franchise agreement with Párizs Property Kft for the project, which will see Brudern House in downtown Budapest converted into an upper-upscale 110-room hotel. The Párisi Udvar Hotel is expected to open in 2018 and will be managed by Mellow Mood Hotels, a leading Hungarian hotel operator.

The 20th century building is known for its eclectic design that offers a rich history and sense of place that will fit the brand’s promise of creating story-worthy and shareable experiences for the modern traveler. The building was completed in 1931 and remained relatively undamaged during the second World War after which the upper floors were converted into apartments. It has so far escaped major renovations, making it a unique treasure from the past. The future hotel incorporates elements from Moorish, Art Deco and Neo Gothic styles, representing the best of Hungary’s architecture. It has been home to shops, apartments and offices, as well as the Jégbufe ice-cream parlor fondly remembered by many local residents.

The building is located on Ferenciek Square on the Pest side of the city, within a stone’s throw from the famous pedestrian area of Váci Street, bustling with cafés, theatres and shops.

The hotel will feature 110 guest rooms and suites, 300 square meters of indoor meeting space, a spa and fitness center, restaurant, bar and café. The food and beverage outlets will be situated within the Párisi Udvar arcade, under the splendour of the building’s colored glass ceiling and hexagonal cupolas, offering guests a truly unique place to socialize and relax.

The Unbound Collection by Hyatt launched in March 2016 and has since grown to five properties currently in operation, with additional properties in development for the brand. Whether it is a fascinating past – as with Párisi Udvar Hotel – an exclusive location, famous architecture and design or an award-winning dining experience, each property maintains a distinct character and the freedom to be unique, while still providing guests with Hyatt’s customer loyalty program, robust operational and marketing resources and trusted, quality brand.

“We are delighted to collaborate with Párizs Property Kft and Mellow Mood Hotels to convert this iconic building into the second hotel for the brand in the region. The Unbound Collection by Hyatt is an ideal fit for the hotel, which boasts an incredible storied history and some of Hungary’s most impressive architecture,” said Peter Norman, Senior Vice President, Acquisition & Development Europe, Africa, Middle East and Southwest Asia at Hyatt. “We look forward to continuing to grow this brand globally in a strategic and meaningful way.”

“Párizs Property Kft and Mellow Mood Hotels are extremely proud to have the opportunity to give back this renowned landmark building to Budapest, and it is a great honor to collaborate with Hyatt on this prestigious project. Our expansion in Budapest is a strong statement of our confidence in the local market and an opportunity to contribute to the growth of the tourism industry in Hungary”, said Zuhair Awad and Sameer Hamdan, both Managing Directors at Mellow Mood Hotels.

Other properties in the collection currently in operation include The Confidante in Miami Beach, Florida; The Royal Palms in Phoenix, Arizona; The Driskill Hotel in Austin, Texas; the Hôtel du Louvre in Paris, France; and the Carmelo Resort & Spa in Carmelo, Uruguay.

For more information about The Unbound Collection by Hyatt, click here.

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.

About Unbound Collection by Hyatt

The Unbound Collection by Hyatt is a portfolio of new and existing upper-upscale and luxury properties, ranging from historic urban gems to contemporary trend-setters, boutique properties to resorts. Whether it is a fascinating past, an exclusive location, famous architecture and design, or an award-winning dining experience, the properties in the collection provide guests with “social currency” and allow them the freedom to be unique. Current properties include The Driskill Hotel in Austin, Texas, The Coco Palms Resort in Kauai, Hawaii, which is expected to undergo a revitalization and re-open in spring 2018, The Royal Palms in Phoenix, Arizona, The Confidante in Miami Beach, Florida, the Hotel Du Louvre in Paris, France and Carmelo Resort & Spa in Uruguay. For more information, please visit unboundcollection.hyatt.com. Follow @UnboundxHyatt on Facebook and Instagram.

Contact:
Glennie Janssen
glennie.janssen@hyatt.com
+1 312 750 6120

Simone Loretan
simone.loretan@hyatt.com
+41 44 279 1226

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.