Hyatt Announces Plans for Andaz Jakarta Sudirman

CHICAGO (August 1, 2024) - Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with PT Central Sudirman Development, for the first Andaz hotel in Jakarta, Indonesia. Slated to open in early 2028, the hotel will be an integral part of Two Sudirman Jakarta, a mixed-use two-tower development poised to be amongst the tallest skyscrapers in the country.

Located in the heart of the central business district, the hotel will be the first Andaz-branded urban hotel in Indonesia complementing Andaz Bali, a resort that opened in 2021. Andaz Jakarta Sudirman will join Hyatt's growing portfolio of 14 properties operating under the Alila, Andaz, Park Hyatt, Grand Hyatt, Hyatt Place and Hyatt Regency brands in Indonesia.

"We are excited to work with PT Central Sudirman Development for the first time on these plans to bring the imaginative and self-expressive ethos of the Andaz brand to Jakarta," said David Udell, group president, Asia Pacific, Hyatt. "Hyatt has had a brand presence in Indonesia for over 50 years. We are committed to thoughtful growth of our brands as we strengthen our position in the luxury, lifestyle, leisure and wellbeing space."

"We are delighted to announce our collaboration with Hyatt and the introduction of the prestigious Andaz brand to Jakarta through our Two Sudirman Jakarta development," said Hendra Lubis, President Director of PT Central Sudirman Development. "This collaboration underscores our commitment to delivering a world-class destination that combines luxury, innovation, and authentic local experiences. With Andaz Jakarta Sudirman, we aim to create a landmark that not only enhances Jakarta's skyline but also enriches the city's hospitality offerings, setting a new standard in urban living and hospitality excellence."

Construction has begun for Two Sudirman Jakarta, which is centrally located along Sudirman Street, the main street of Jakarta's central business district. The development will have convenient access to MRT (Jakarta Mass Rapid Transit), LRT (Light Rapid Transit) and direct connectivity to Soekarno-Hatta International Airport through the Airport Rail Link, enabling travelers to seamlessly get around the city. The two towers will consist of residences, food and beverage outlets, retail spaces and offices.

Andaz Jakarta Sudirman will occupy the 40^th to 72^nd floors of Tower A, offering sweeping city views. The hotel's interiors, including the 198 hotel rooms and 167 serviced apartments, will be designed by Tokyo-based Design Studio Spin. Guests can look forward to the signature Andaz Lounge, a fitness center, an outdoor pool, meeting rooms, an all-day dining venue, a bar, and a specialty restaurant on the top floor.

To learn more about Andaz hotels, please visit the official brand website: www.andaz.com.

The term "Hyatt" is used 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 March 31, 2024, the Company's portfolio included more than 1,300 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.

About Andaz

Global in scale while local in perspective, the Andaz brand empowers self-expression and stimulates guests' curiosity through imaginative travel for a distinctively local experience. Through thoughtful, unscripted service tailored for travelers, Andaz hotels enable guests to go beyond the familiar to discover and define their personal essence while immersing themselves in the spirit of the eclectic culture around them. Currently, there are 29 Andaz hotels open: Andaz 5th Avenue in New York, Andaz San Diego, Andaz West Hollywood, Andaz Napa, Andaz Scottsdale Resort & Bungalows, Andaz Savannah, Andaz Maui at Wailea Resort, Andaz Munich Schwabinger Tor, Andaz Ottawa ByWard Market, Andaz Mayakoba Resort Riviera Maya, Andaz Mexico City Condesa, Andaz Costa Rica Resort at Peninsula Papagayo, Andaz London Liverpool Street, Andaz Amsterdam Prinsengracht, Andaz Prague, Andaz Singapore, Andaz Bali, Andaz Pattaya Jomtien Beach, Andaz Delhi, Andaz Xintiandi in Shanghai, Andaz Shenzhen Bay, Andaz Tokyo Toranomon Hills, Andaz Seoul Gangnam, Andaz Capital Gate Abu Dhabi, Andaz Dubai The Palm, Andaz Xiamen, Andaz Vienna Am Belvedere, Andaz Nanjing Hexi and Andaz Macau For more information, please visit andaz.com. Follow @Andaz on Facebook, Twitter and Instagram, and tag photos with #WhenInAndaz.

About PT Central Sudirman Development

PT Central Sudirman Development is a project company established in Jakarta, Indonesia, jointly owned by PT Oasis Central Investment (a joint venture company between Mitsubishi Estate Co., Ltd., and PT Benhil Property) and PT Taspen Properti Indonesia (a subsidiary of real estate division of PT Taspen, an Indonesian state-owned company for Indonesia's civil servants' pension fund). Since 2021, PT Central Sudirman Development has led the development of Two Sudirman Jakarta, one of the largest-scale mixed-use development projects in central Jakarta, Indonesia.

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. As a result, 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 actual results to differ materially from current expectations include, but are not limited to: general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and pace of economic recovery following economic downturns; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group segments, as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geopolitical conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters, weather and climate-related events, such as earthquakes, tsunamis, tornadoes, hurricanes, droughts, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; 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; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party 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 our ability to successfully integrate completed acquisitions with existing operations; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to successfully execute our strategy to expand our management and hotels services and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; our ability to maintain effective internal control over financial reporting and disclosure controls and procedures; declines in the value of our real estate assets; unforeseen terminations of our management and hotels services or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates, wages, and other operating costs; foreign exchange rate fluctuations or currency restructurings; risks associated with the introduction of new brand concepts, including lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and Unlimited Vacation Club paid membership program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; and violations of regulations or laws related to our franchising business and licensing businesses and our international operations; and other risks discussed in the Company's filings with the SEC, including our annual reports on Form 10-K and quarterly reports on Form 10-Q, which filings are available from the SEC. 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.

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Media Contacts:

Renee Yeung
Hyatt
[email protected]

Sidharta Satwiko
Central Sudirman Development
[email protected]

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