Panorama Signs Hyatt to Operate Hyatt Regency Hakone

Hiroko Noguchi Named General Manager

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. October 14, 2008

CHICAGO, IL, September 29, 2006. Hyatt Hotels & Resorts announced that it will manage an exclusive resort and spa in Hakone, Japan. Hyatt Regency Hakone Resort and Spa is scheduled to open in December 2006.

Ms Hiroko Noguchi has been named the general manager. The first female general manager to be appointed by any international hotel chain in Japan, Ms. Noguchi is an experienced hotelier and was most recently previously director of marketing for Park Hyatt Tokyo.

The 80-room Hyatt Regency Hakone Resort and Spa will be the third Hyatt hotel in the Kanto-area, which includes Park Hyatt Tokyo (opened in 1994) and Grand Hyatt Tokyo (opened in 2003).

An area famous for natural hot springs (onsens) in Japan, Hakone is a resort region in the Kanagawa prefecture and approximately 80 kilometers (50 miles) west of Tokyo. Situated in Fuji Hakone National Park in Gora, Hyatt Regency Hakone Resort and Spa is about 20 minutes by car from Hakone - Yumoto Station and 30 minutes from Odawara Station. It is a mere 30-minute ride by "bullet train" from Tokyo.

With an average room size of 68 square meters (225 square feet), all guestrooms are designed in a contemporary residence style in simple neutral tones. All the rooms feature a private sun terrace or balcony, and some rooms have stunning views of Mount Fuji. The bathrooms are spacious with separate deep sunken, overflowing bathtub and wet area. All guestrooms have broadband Internet access, 32" plasma televisions (37" for suite rooms), and DVD and CD players. There are also 12 Japanese and Western combination style rooms with deluxe twin beds and Tatami mats, traditional Japanese flooring. Additionally, there are six pet-friendly rooms with separate pet shower rooms, with direct access to the parking area.

Designed by the celebrated Japanese design firm Super Potato, the hotel Spa is the largest in Hakone. Each of the eight treatment rooms has their own private mist sauna and five of them have private bath. Two of the rooms are also available to connect to vishi shower room. Unique restaurants and bars include a French brasserie style restaurant offering French and Japanese cuisine, with a Teppanyaki and Sushi Counter and an outdoor terrace; a Lobby Lounge serving afternoon tea, snacks and cocktails, and a stylish bar.

About the Hyatt Regency Hakone Resort and Spa

-- Panorama Hospitality, K.K. is the asset manager.

-- The hotel is located in Fuji Hakone National Park. The facility was formerly operated as Granforet Villa Gora Club. It was acquired by Morgan Stanley's real estate fund and refurbished by Panorama Hospitality, K.K. It will be the eighth Hyatt hotel in Japan.

-- Hyatt Regency Hakone Resort and Spa is the first genuine spa resort hotel operated by an international hotel chain in Hakone.

-- Panorama Hospitality, K.K., a wholly owned subsidiary of the Morgan Stanley group, is a Tokyo based hotel management and consulting company serving the Asia Pacific region.

Currently Hyatt operates seven hotels in Japan including Park Hyatt Tokyo, Grand Hyatt Tokyo, Century Hyatt Tokyo, Hyatt Regency Kyoto, Hyatt Regency Osaka, Grand Hyatt Fukuoka and Hyatt Regency Fukuoka.

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