The property will mark the first Andaz branded hotel in Dubai and the
second in the United Arab Emirates

CHICAGO–(BUSINESS WIRE)–Hyatt
Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate
has entered into a management agreement with wasl
Asset Management Group, one of the largest real estate development
and management companies in Dubai, for the development of an Andaz
branded hotel on the Palm Jumeirah. Occupying prime real estate on the
world-famous man-made island, Andaz Dubai The Palm is slated to open in
the last quarter of 2019, becoming the first Andaz branded hotel in
Dubai and the second Andaz hotel in the United Arab Emirates, joining
Andaz Capital Gate Abu Dhabi.

Created for the inquisitive-minded traveler, the hotel will offer an
inspired local experience and stimulate guests’ senses through the
city’s rich culture, heritage and attractions. The property will provide
exclusive beachfront admission and easy access to several of Dubai’s key
landmarks including the Mall of the Emirates, Dubai Mall, Marina Mall,
Jumeirah Beach and Dubai Marina.

HE Hesham Abdulla Al Qassim, CEO of wasl Asset Management Group,
commented, “Andaz Dubai The Palm will provide a standout hospitality
experience for guests amidst a location famous for luxury and
exclusivity. Due for completion ahead of the EXPO 2020, this new venture
with Hyatt will further enriches our portfolio and fosters the provision
of exemplary hospitality experiences to Dubai’s growing tourism market.”

“Hyatt is committed to thoughtfully introducing brands to new places and
providing meaningful experiences for each and every guest,” said Ludwig
Bouldoukian, Hyatt’s Dubai-based regional vice president of development,
Middle East and North Africa. “We’re excited to introduce the Andaz
brand to Dubai and believe that the globally renowned Palm Jumeirah
provides the ideal setting to realize this vision. The vibrant luxury
property will attract travelers looking to fully immerse themselves in
Dubai and engage them through unique programming.”

The hotel will feature twin 15-story towers inclusive of 217 guestrooms
and 116 serviced apartments, each capturing a bespoke design influenced
by the colors of Arabia. To add to the area’s thriving culinary scene,
the hotel will offer four vibrant restaurants as well as a fitness
center, spa and meeting facilities.

A second property is also under development at urban beachside
destination La Mer. Previously announced as Andaz La Mer Dubai, Hyatt
Centric La Mer Dubai will mark the first property under the Hyatt
Centric brand in the UAE. A full-service lifestyle brand positioned in
prime destinations, Hyatt Centric hotels are thoughtfully designed as a
launch-pad for exploration and discovery, a perfect fit for socially
connected guests who want to live in the now. Hyatt Centric La Mer
Dubai is set to open in 2020.

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 Andaz

Global in scale while local in perspective, the Andaz brand of luxury
lifestyle hotels weaves the sights, sounds, and tastes of each
property’s surroundings for a distinct experience. Through thoughtful,
unscripted service, Andaz hotels enable guests to go beyond the familiar
and satiate their curiosity while immersing them in the spirit of the
eclectic culture around them. Seventeen Andaz hotels are currently open:
Andaz 5th Avenue and Andaz Wall Street in New York, Andaz San Diego,
Andaz West Hollywood, Andaz Napa, Andaz Scottsdale Resort & Spa, Andaz
Savannah, Andaz Maui at Wailea Resort, Andaz Ottawa ByWard Market, Andaz
Mayakoba Resort Riviera Maya, Andaz Costa Rica Resort at Peninsula
Papagayo, Andaz London Liverpool Street, Andaz Amsterdam Prinsengracht,
Andaz Singapore, Andaz Delhi, Andaz Xintiandi in Shanghai, and Andaz
Tokyo Toranomon Hills. For more information, please visit andaz.com.
Follow @Andaz on Facebook, Twitter and Instagram,
and tag photos with #WhenInAndaz.

About Hyatt Centric

Hyatt Centric is a brand of full-service lifestyle hotels located in
prime destinations. Created to connect guests to the heart of the
action, Hyatt Centric hotels are thoughtfully designed to enable
exploration and discovery, so they never miss a moment of adventure.
Each hotel offers social spaces to connect with others in the lobby,
meanwhile the bar and restaurant are local hot spots where great
conversations, locally inspired food and signature cocktails can be
enjoyed. Streamlined modern rooms focus on delivering everything guests
want and nothing they don’t. A passionately engaged team is there to
provide local expertise on the best food, nightlife and activities the
destination has to offer. For more information please visit hyattcentric.com.
Follow @HyattCentric on Facebook
and Instagram,
and tag photos with #HyattCentric.

About Wasl Hospitality LLC

Wasl Hospitality LLC is a subsidiary of Dubai Real Estate Corporation, a
public corporation established by the government of Dubai. The Dubai
Real Estate Corporation oversees activities pertaining to the former
Real Estate Department, Dubai Development Board and Dubai Coast
Hospitality, and currently supervises operations of other globally
renowned hospitality chains, inclusive of the six existing properties of
Hyatt in Dubai.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global
hospitality company with a portfolio of 19 premier brands. As of
December 31, 2018, the Company’s portfolio included more
than 850 properties in 60 countries across six continents. 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 attract and
retain top colleagues, build relationships with guests and create value
for shareholders. The Company’s subsidiaries develop, own, operate,
manage, franchise, license or provide services to hotels, resorts,
branded residences, vacation ownership properties, and fitness and spa
locations, including under the Park Hyatt®, Miraval®, Grand
Hyatt®, Alila®, Andaz®, The Unbound
Collection by Hyatt®, Destination®, Hyatt
Regency®, Hyatt®, Hyatt Ziva, Hyatt
Zilara, Thompson Hotels®, Hyatt
Centric®, Hyatt House®, Hyatt Place®, Joie
de Vivre®, tommie, Hyatt Residence Club® and Exhale® brand
names, and operates the World of Hyatt® loyalty program
that provides distinct benefits and exclusive experiences to its valued
members. For more information, please visit www.hyatt.com.

Forward-Looking Statement

Forward-Looking Statements in this press release, which are not
historical facts, are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Our actual
results, performance or achievements may differ materially from those
expressed or implied by these forward-looking statements. In some cases,
you can identify forward-looking statements by the use of words such as
“may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,”
“believe,” “estimate,” “predict,” “potential,” “continue,” “likely,”
“will,” “would” and variations of these terms and similar expressions,
or the negative of these terms or similar expressions. Such
forward-looking statements are necessarily based upon estimates and
assumptions that, while considered reasonable by us and our management,
are inherently uncertain. Factors that may cause our actual results,
performance or achievements to differ materially from current
expectations include, among others, the rate and the pace of economic
recovery following economic downturns; levels of spending in business
and leisure segments as well as consumer confidence; declines in
occupancy and average daily rate; the seasonal and cyclical nature of
the real estate and hospitality businesses; changes in distribution
arrangements, such as through internet travel intermediaries; changes in
the tastes and preferences of our customers; the financial condition of,
and our relationships with, third-party property owners, franchisees,
and hospitality venture partners; the possible inability of third-party
owners, franchisees, or development partners to access capital necessary
to fund current operations or implement our plans for growth; risks
associated with potential acquisitions and dispositions and the
introduction of new brand concepts; the timing of acquisitions and
dispositions, and our ability to successfully integrate completed
acquisitions with existing operations; our ability to successfully
execute on our strategy to expand our management and franchising
business while at the same time reducing our real estate asset base
within targeted timeframes and at expected values; changes in the
competitive environment in our industry, including as a result of
industry consolidation, and the markets where we operate; our ability to
successfully grow the World of Hyatt loyalty program; cyber incidents
and information technology failures; and other risks discussed in the
Company’s filings with the U.S. Securities and Exchange Commission,
including our Annual Report on Form 10-K, which filings are available
from the U.S. Securities and Exchange Commission. These factors are not
necessarily all of the important factors that could cause our actual
results, performance or achievements to differ materially from those
expressed in or implied by any of our forward-looking statements. We
caution you not to place undue reliance on any forward-looking
statements, which are made only as of the date of this press release. We
undertake no obligation to update publicly any of these forward-looking
statements to reflect actual results, new information or future events,
changes in assumptions or changes in other factors affecting
forward-looking statements, except to the extent required by applicable
law. If we update one or more forward-looking statements, no inference
should be drawn that we will make additional updates with respect to
those or other forward-looking statements.

Contacts

MEDIA CONTACTS:
Gloria Kennett
Hyatt
312-780-5506
[email protected]

Noha Belhaj
Corporate Communications Manager, Middle East and North
Africa – Hyatt
+971 56 818 50 26
[email protected]