CHICAGO (DECEMBER 13, 2012) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Societe d’Aménagement et de Promotion de la Station de Taghazout (SAPST) for a Hyatt Place hotel in Taghazout, Morocco. The hotel will be developed and owned by SAPST. Hyatt Place Taghazout is the second Hyatt-branded hotel under development in Morocco, joining the previously announced Park Hyatt Marrakech, which is expected to open in 2013. There is currently one Hyatt-branded hotel in Morocco – Hyatt Regency Casablanca.
Hyatt Place Taghazout will be part of a master planned development, Taghazout Bay. Construction on the first phase of development has commenced and is comprised of Hyatt Place Taghazout, a Moroccan spa, a retail center, an 18-hole golf course, a golf club house, and a surf camp, all of which are expected to open in late 2014.
“We are delighted to work with Societe d’Aménagement et de Promotion de la Station de Taghazout on Hyatt Place Taghazout, the first Hyatt Place hotel under development in Morocco,” said Peter Norman, senior vice president of real estate and development, EAME for Hyatt Hotels & Resorts. “We believe that the Hyatt Place brand and the location of the hotel in the Taghazout Bay Resort, near the city of Agadir on Morocco’s Atlantic Coast, will have strong appeal to business and leisure travellers visiting the city.”
“The opening of Hyatt Place Taghazout will be very exciting for Hyatt as we continue to establish Morocco as an influential resort destination,” said Peter Fulton, Executive Vice President, Group President – EAME/Southwest Asia, Hyatt Hotels Corporation.
The 150-room Hyatt Place Taghazout will be conveniently located adjacent to the city of Agadir, on Morocco’s Atlantic Coast. The master planned development’s completion is expected over a period of 15 years. The hotel’s development is supported by the government’s tourism strategy, Vision 2020, which sets sustainable development at the heart of its priorities.
“We are excited to introduce the Hyatt Place Taghazout brand to Morocco and bring Hyatt’s world-class hospitality to the area with the Hyatt Place brand,” commented a spokesperson from Societe d’Aménagement et de Promotion de la Station de Taghazout.
For more information, please visit www.hyattdevelopment.com.
About Hyatt Place
Launched in 2006, Hyatt Place brings to the upscale select service hotel category the authentic hospitality for which Hyatt is known. Inspired by multitasking travelers’ 24/7 lifestyle, Hyatt Place combines stylish design and practical amenities with forward-thinking technology and purposeful service. Spacious guestrooms feature multiple areas to work and relax, and include the Cozy Corner, an eight-foot sectional sofa sleeper; plush Hyatt Grand Bed; and ergonomic work center. For more information, please visit www.hyattplace.com.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place® and Hyatt HouseTM brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Residence ClubTM. As of September 30, 2012, the Company's worldwide portfolio consisted of 496 properties in 45 countries. For more information, please visit www.hyatt.com.
Established in July 2011, SAPST is devoted to the planning, development, marketing and management of the Taghazout Bay Resort. SAPST is a limited liability company registered with a capital of one hundred million Dirhams (MAD 100,000,000) and owned by five prestigious Moroccan shareholders: CDG Développement (35%), the Moroccan Fund for Tourism Development – FMDT (25%), Alliances Développement Immobilier (20%), Sud Partners – consortium with Akwa Group on top of it (15%) and the Moroccan Tourism Engineering Company – SMIT (5%).
About Taghazout Bay
Located 40 minutes from Agadir International Airport, Taghazout Bay is part of the Vision 2020 national strategy. Highly committed to sustainable development, the resort design takes into account the preservation of natural resources and respects the socio-cultural authenticity of host communities. As a seaside resort on a rich hinterland, within an exceptional natural environment, Taghazout Bay offers tourists tremendous experiences focused on the sea, culture, sports, nature and eco-tourism. With investment exceeding one billion US Dollars, Taghazout Bay Resort will offer 7,450 tourist beds, allocated in nine modern hotels and various tourist residences, as well as world-class sporting and leisure facilities within five years. www.taghazoutbay.ma
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