Hyatt Announces Plans for First Andaz Hotel in Australia

CHICAGO, (September 23, 2024) - Hyatt Hotels Corporation (NYSE: H) announced today that Hyatt has entered into agreements with Destination Gold Coast Consortium for an Andaz resort in the Gold Coast, Australia. Destination Gold Coast Consortium is a joint venture between parent company, The Star Entertainment Group, and its two partners, Far East Consortium and Chow Tai Fook Enterprises. Andaz Gold Coast will be part of an integrated resort masterplan, The Star Gold Coast. Slated to open in mid-2025, the hotel will mark the debut of luxury lifestyle brand Andaz in Australia and the Pacific region.

"We are thrilled to announce plans to bring the Andaz brand to Australia's premier resort destination in collaboration with The Star Gold Coast," said David Udell, group president, Asia Pacific, Hyatt. "Hyatt has had a brand presence in Australia for over 40 years, and we are excited to expand our luxury, lifestyle and leisure offerings into sought-after destinations like the Gold Coast. This resort will complement our current portfolio of 10 hotels under five distinct brands in Australia, including Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt Centric and Hyatt Place."

The Star Gold Coast General Manager of Hotels Steve McPharlin said, "We are delighted to welcome Andaz Gold Coast to our world-class tourism and entertainment precinct. As part of The Star Gold Coast's AU$2 billion (approximately US$1.33 billion) masterplan, we are proud to continue our investment in this dynamic city while also providing new employment opportunities alongside vibrant hospitality experiences."

With close to 30 global properties, including in gateway cities such as Tokyo, Singapore, New York and London, and resort destinations like Bali and Maui, the Andaz brand celebrates and empowers self-expression through imaginative travel. The ethos of sophisticated whimsy encourages guests to connect with their innermost curiosities and awaken to new experiences with a local twist.

Andaz Gold Coast will be situated at The Star Gold Coast, an exclusive mixed-use development on Broadbeach Island. With easy access to beautiful sandy beaches, rainforests, and theme parks, those looking to expand their horizons can indulge in a myriad of recreation, dining, and entertainment options within the integrated entertainment complex. Guests can enjoy upscale shopping at the nearby Pacific Fair Shopping Centre and direct connectivity to the Gold Coast Convention and Exhibition Centre.

Occupying floors six to 21 of the 65-story second tower, the hotel will feature 202 guest rooms and suites, a fitness center and three food and beverage outlets. Overlooking Broadbeach, the expansive outdoor pool deck on level six will be a destination hotspot with a cocktail bar, a beach club with private cabanas and al fresco dining. The Andaz Lounge, a signature touchpoint at Andaz hotels, will offer a relaxed and inviting all-day space for guests to enjoy a drink or snack. The architecture by Australian design firm DBI Architects will be matched with contemporary interiors by award-winning Australian design firm Hachem. The bespoke hotel design will be informed by the narrative 'Chase the Sun', inspired by the fascinating transformation of sunlight as each day unfolds on the Gold Coast. The transitions from sunrise to sunset will make for a spirited and stimulating atmosphere to fuel guest creativity. Once fully open, The Star Gold Coast will be one of Australia's largest integrated multi-tower resorts.

"The Gold Coast is a world-renowned region, and it is energizing for the tourism industry to be welcoming a new international hotel brand to the region," said Patricia O'Callaghan, tourism and events Queensland chief executive officer. "More than four million Australians visited the Gold Coast last year and we are steadily working our way to recover international arrivals to one of Australia's best known and well-loved destinations."

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

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 The Star Gold Coast
The Star Entertainment Group is proud to be investing in Southeast Queensland having transformed its iconic Broadbeach property, The Star Gold Coast, into a world-class tourism and entertainment precinct. As one of Australia's largest residential conference and event venues and the Gold Coast's largest accommodation provider, the property boasts almost 1400 rooms and apartments across the luxury five-star hotel The Star Grand, opulent all-suite hotel The Darling and the first completed hotel and The Star Residences tower. A second hotel and apartments tower as part of a $2 billion masterplan is nearing completion delivering another 639 hotel rooms and apartments. With an impressive convention, exhibition, and event gala space for up to 2,300, award-winning restaurants, lively bars, spectacular stage shows, concerts and live music plus a 24-hour casino, The Star plays an important role in making the Gold Coast a must-visit destination.

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 Contact:
Renee Yeung
Senior Manager of Communications- North, Southeast Asia & Pacific- Hyatt
[email protected]

Karryn Wheelans
Group Head of Media- The Star Entertainment Group
[email protected]

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