Hyatt Announces Plans for Park Hyatt Sapporo

CHICAGO (August 20, 2024) - Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Heiwa Real Estate Co. Ltd., for a new Park Hyatt hotel in Sapporo. Scheduled to open in 2029, the hotel will be situated in the economic and cultural center of the Hokkaido Prefecture in northern Japan. It will be the fourth Park Hyatt branded hotel in the country and will complement the award-winning Park Hyatt Niseko Hanazono, a luxury mountain retreat located in Hokkaido's leading ski resort.

The hotel will be conveniently located in a mixed-used tower under development at the intersection of the famed Odori Park and bustling Sapporo Ekimae-dori, the city's main commercial and business thoroughfare. Spanning the 27th through 35th floors, it offers magnificent views of the park and city. The building will be designed by celebrated architect Kengo Kuma, who is renowned for his innovative ability to blend architecture and the natural world. Park Hyatt Sapporo will offer 157 luxurious rooms and suites, world-class culinary and wellness experiences, an indoor swimming pool and inspiring spaces for meetings and events.

Hokkaido's year-round attractions now account for the most inbound overnight stays and tourism spending of any regional area in Japan, separate from the nation's three major metropolitan areas [source: Japan Ministry of Land, Infrastructure, Transport and Tourism]. Japan's northernmost island of Hokkaido is known for rugged wildernesses, superb powder snow, sumptuous seafood, intriguing indigenous culture and more. The city is easily accessible by 90-minute flights from Tokyo, and eventually by high-speed rail when the Bullet Train extends to Sapporo in the early 2030s. As Japan's fifth-largest city, Sapporo itself has become a favored destination. Tanuki Koji shopping street and the Susukino entertainment district bustle with tourists year-round, while Sapporo's iconic winter landscape has been named one of Japan's top sights to behold.

"Park Hyatt Sapporo is our second collaboration with Heiwa Real Estate, after Caption by Hyatt Kabutocho Tokyo, which is set to open in 2025," said David Udell, group president, Asia Pacific, Hyatt. "We sincerely appreciate their confidence in Hyatt, and we are honored to join with them in elevating the luxury offerings in this dynamic city. We are excited to be part of the ongoing transformation of Sapporo, as more discerning business and leisure travelers, including World of Hyatt members, head north to discover Hokkaido."

"With a superb location in central Sapporo, Park Hyatt Sapporo will become a luxury home-away-from-home for those looking to experience Sapporo's rich selection of attractions," said Kiyoyuki Tsuchimoto, representative executive officer, president and chief executive officer of Heiwa Real Estate. "This development project is the starting point of our new growth strategy, as we contribute to Sapporo's evolving stature as one of Japan's leading cities. We are confident that our collaboration with Hyatt will be another highly successful one."

Park Hyatt Sapporo will join Hyatt's growing Japan portfolio of 21 hotels encompassing nine brands, including Andaz, Grand Hyatt, Hyatt Regency, Hyatt Place, Hyatt House, Caption by Hyatt, and The Unbound Collection by Hyatt. Hyatt is steadily increasing its brand presence in Hokkaido with Park Hyatt Hanazono which opened in early 2020, as well as the vibrant Hyatt Centric brand, which is set to debut in Sapporo in 2026.

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 Park Hyatt

Park Hyatt hotels provide discerning, global travelers with a refined home-away-from-home. Guests of Park Hyatt hotels receive quietly confident and personalized service in an enriching environment. Located in several of the world's premier destinations, each Park Hyatt hotel is custom designed to combine sophistication with understated luxury. Park Hyatt hotels feature well-appointed guestrooms, world-renowned artwork and design, rare and immersive culinary experiences, and signature restaurants featuring award-winning chefs. There are currently 46 Park Hyatt hotels in the following locations: Abu Dhabi, Auckland, Bangkok, Beaver Creek, Beijing, Buenos Aires, Busan, Canberra, Changbaishan, Carlsbad, Changsha, Chennai, Chicago, Doha, Dubai, Guangzhou, Hangzhou, Hyderabad, Istanbul, Jakarta, Jeddah, Kyoto, Maldives, Marrakech, Melbourne, Mendoza, Milan, New York, Ningbo, Niseko, Paris, Saigon, Sanya, Seoul, Shanghai, Shenzhen, Siem Reap, St. Kitts, Suzhou, Sydney, Tokyo, Toronto, Vienna, Washington, D.C., Zanzibar, and Zurich. For more information, please visit parkhyatt.com. Follow @ParkHyatt on Facebook, Twitter and Instagram, and tag photos with #LuxuryIsPersonal.

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.

About Heiwa Real Estate
Corporate Profile Heiwa Real Estate was founded in 1947 as the owner of stock exchange buildings in Tokyo, Osaka, Nagoya, Fukuoka, and elsewhere, which play a central function and role in Japan's financial markets. Through continuous Bazukuri, we have infused vibrancy into districts. The fundamental value shared across the Heiwa Real Estate Group's work is drawing people in through diverse Bazukuri endeavors. As a Group, we will embark on initiatives to create captivating living environments.

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MEDIA CONTACTS:
Masayo Imai
Yumeko Arai
Hyatt - Japan and Micronesia
[email protected]

Dana Fioravanti
Hyatt
[email protected]

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