Hyatt Select Service Pipeline in the Americas Grows by More than 25% Over the Past Three Years Including Over 4,000 Pipeline Hyatt Studios Rooms

CHICAGO (October 4, 2024) - Hyatt Hotels Corporation (NYSE: H) today announced significant growth in its select service pipeline, with a ~25% increase in the Americas over the past three years. As of June 30, 2024, this segment represents over 50% of Hyatt's total pipeline in the Americas. Complementing growth in lifestyle, luxury and all-inclusive, Hyatt's select service portfolio remains a key driver for market expansion and generating awareness and enrollment in World of Hyatt, the industry's fastest growing loyalty program. Through owner-driven innovation, Hyatt is advancing its select service brands, focusing on operational efficiency and profitability.

"Across our select service brands, we are strategically adapting product design and operations to reduce construction costs, leverage technology, and allow for greater customization," said Dan Hansen, head of Americas development, Hyatt. "While prioritizing what matters most to our guests and World of Hyatt members, we will continue to grow and evolve with intent, delivering exceptional guest experiences and maximizing owner profitability."

Evolving the Caption by Hyatt brand with owner input
Hyatt's contemporary upscale select service brand, Caption by Hyatt, has launched a refreshed approach with increased market flexibility, a more efficient food and beverage model and an evolved prototype design. These enhancements, shaped by owner and guest feedback, enable expansion into a broader range of markets with a simplified, more cost-effective prototype and efficient operating model that preserves the brand's core identity as a neighborhood connection point.

Design updates bring a sophisticated touch to guestrooms and public spaces while maintaining the brand's vibrant spirit. Notable enhancements in the guestrooms include a more refined color palette, softer lighting and upholstery and artwork elements that celebrate the locale. Public spaces remain spacious with rich color accents and materials that were thoughtfully selected for longevity and timeless appeal.

The reimagined food and beverage model emphasizes efficiency and flexibility with a fast casual concept and a versatile menu that transitions from breakfast to all-day options, streamlining preparation and ingredients. Owners can adopt this concept or collaborate with a third-party operator, reducing investment while keeping the offering appealing to guests.

With two recent openings in Asia Pacific in 2024 and more locations expected to open across the U.S. in 2025, the Caption by Hyatt brand is poised for continued global growth.

Growing the Hyatt Studios brand to over 4,000 pipeline rooms
In just 18 months since first being announced, Hyatt's first upper midscale extended stay brand, Hyatt Studios, has experienced impressive growth, rapidly expanding with over 4,000 pipeline rooms and 250 deals in various stages of negotiation. Reflecting Hyatt's white space in this segment, nearly half of pipeline properties represent first-time Hyatt owners and are in new markets for Hyatt.

The brand's momentum includes two recent groundbreakings and four hotels under construction, with openings slated for 2025 and 2026. Hyatt Studios Harrisonburg broke ground on September 5 across from the Sentara Medical Center in the Shenandoah Valley, one of three executed deals by Suburban Capital in Virginia, with plans for additional locations in Chesapeake and Charlottesville. Hyatt Studios Texarkana, developed by DPN Properties, broke ground on September 26, located on the Texas-Arkansas border, along major highways and near key medical and military institutions, and a new market for Hyatt.

Newly executed deals include:

Enhancing the Hyatt Place and Hyatt House brands
Hyatt House and Hyatt Place, two of Hyatt's most recognized brands, are undergoing exciting upgrades driven by owner and guest feedback.

Hyatt House, Hyatt's upscale extended stay brand loved for its ability to make guests feel at home, now features a new generation of elevated guestrooms. Updates include refreshed kitchen and living space, with new kitchen islands, media consoles and hard surface flooring.

The upscale Hyatt Place brand is currently in a test-and-learn phase, focused on reducing build cost and improving operational efficiency. This includes analyzing all aspects of the prototype, like room mix, exterior and interior materials, and simplifying the interior design.

"We've been carefully listening to guest and owner feedback, including insights from our recent Owners Advisory Council, to evolve the Hyatt Place brand. By maintaining an open dialogue, we're finding new ways to boost owner profitability while continuing to deliver the high-quality experience that guests expect. Stay tuned for exciting updates in the coming months," said Jim Tierney, SVP of development and owner relations, Hyatt.

Hyatt's World of Hyatt loyalty program, with 44% more members per hotel than its larger competitors, continues to drive direct business growth, with a steady increase among Hyatt's select service portfolio. Recent member promotions for the Hyatt House and Hyatt Place brands resulted in a 50% year-over-year increase in direct booked nights from existing members engaging with the promotion, alongside strong participation in the new '2K Next Stay' milestone award, which offers members 2,000 Bonus Points on their next stay at a select service brand hotel after reaching 20 Qualifying Nights or 35,000 Base Points.

For more information on Hyatt's portfolio of select service brands, visit: Hyatt Development.

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 Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose - to care for people so they can be their best. As of June 30, 2024, the Company's portfolio included more than 1,350 hotels and all-inclusive properties in 78 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Vacation Club®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt®; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt®; and the Inclusive Collection, including Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith™, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. 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. These statements include statements about our plans, strategies, outlook, occupancy, the amount by which the Company intends to reduce its real estate asset base, the expected amount of gross proceeds from the sale of such assets, and the anticipated timeframe for such asset dispositions, the number of properties we expect to open in the future, pace and booking trends, the expected timing and payment of dividends, RevPAR trends, our expected Adjusted G&A Expense, our expected capital expenditures, our expected net rooms growth, our expected system-wide RevPAR, our expected one-time integration-related expenses, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. 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All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. 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 do not undertake or assume any 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.

MEDIA CONTACT:
Dana Fioravanti
Hyatt
[email protected]

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