CHICAGO--(BUSINESS WIRE)--

Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with PEC Portfolio Springvale Pty Ltd for a 200-key Hyatt Place hotel in Melbourne, Australia.

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Hyatt Place Melbourne Springvale will boast a prominent location at the intersection of Springvale and Dandenong Roads in the heart of the Monash Employment and Innovation Cluster, which is home to a number of academic institutions, businesses and medical facilities. (Photo: Business Wire)

The Hyatt Place brand is rooted in extensive consumer insights indicating that guests seek stylish, comfortable, seamless experiences that accommodate their lifestyles and familiar routines. To embody this, the brand offers casual hospitality and purposeful service in a smartly designed, high-tech and contemporary environment.

“We are delighted to expand the Hyatt Place brand in Melbourne, the second largest city Australia,” said Asia Pacific Group President David Udell, Hyatt Hotels Corporation. “The hotel will mark the tenth Hyatt-branded hotel in Australia and it will be a great addition to Hyatt’s brand footprint in Melbourne, which includes Park Hyatt Melbourne, Grand Hyatt Melbourne, Hyatt Place Melbourne Essendon Fields, and a recently announced Hyatt Centric hotel in Melbourne.”

Hyatt Place Melbourne Springvale will boast a prominent location at the intersection of Springvale and Dandenong Roads in the heart of the Monash Employment and Innovation Cluster, which is home to a number of academic institutions, businesses and medical facilities. Hyatt Place Melbourne Springvale will become the second Hyatt Place hotel in Australia upon its expected opening in 2020.

The hotel will be developed by PE Capital, one of the leading boutique investment management firms in Australia, and will form part of a mixed-used complex, which will also include co-working facilities and retail stores.

“With a talented workforce and a growing diversity of institutions and industries, the Monash Cluster continues to make significant contributions to the Victorian economy. We believe the new complex will offer unique business and leisure experience for both local and international guests,” said Martyn Barnes of PE Capital. “We are thrilled to collaborate with Hyatt to further cultivate the Monash Cluster into a top modern business destination and support the national economy. Hyatt Place Melbourne Springvale will provide thoughtful service, providing both business and leisure travelers with an optimal choice while visiting the city.”

For more information, please visit www.hyattplace.com.

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 Hyatt Place

Hyatt Place, a brand of Hyatt Hotels Corporation, combines style, innovation and 24/7 convenience to create a seamless stay with modern comforts. There are more than 305 Hyatt Place locations in Australia, Armenia, Brazil, Canada, Chile, China, Costa Rica, Honduras, India, Mexico, Morocco, Nicaragua, Panama, Puerto Rico, Thailand, The Netherlands, United Arab Emirates, United Kingdom, and the United States. For more information, please visit hyattplace.com. Join the conversation on Facebook and Instagram, and tag photos with #HyattPlace and #WhySettle.

About PE Capital

PE Capital is an Australian alternative asset manager focused on property and enterprise investments. Established in 2015, PE Capital now has over A $250MM in projects under management. PE Capital undertakes mixed commercial property developments. These developments involve the transformation of greenfield sites into fully developed commercial properties. Typically, these would include: local infrastructure, health, education and hospitality and tourism projects.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 14 premier brands. As of March 31, 2018, the Company's portfolio included more than 700 properties in more than 50 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®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound Collection by Hyatt®, Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™, Hyatt Residence Club® and exhale® brand names. For more information, please visit www.hyatt.com.

Forward-Looking Statements

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 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 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 the 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; changes in the competitive environment in our industry, including as a result of industry consolidation, and the markets where we operate; general volatility of the capital markets and our ability to access such markets; 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.

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