Expected to open in summer 2024, Hyatt Regency Panama City will help Hyatt grow its brand in a bustling leisure and business travel market
CHICAGO–(BUSINESS WIRE)–Hyatt Hotels Corporation (NYSE:H) in collaboration with Hotel Properties of Panama Inc., today announced the planned expansion of the Hyatt Regency brand in the Latin America & Caribbean region with Hyatt Regency Panama City, expected to open in summer 2024. Hyatt Regency Panama City will be the first Hyatt Regency hotel in Panama City and the third Hyatt hotel in Panama. Perfectly situated for business and leisure travelers, the hotel will be in the heart of Panama City’s business district, less than 10 miles from Tocumen International Airport, near the Multiplaza shopping mall and the new Amador Convention Center.
Hyatt Regency Panama City will offer 382 guestrooms and suites spread across two towers, as well as a pool, state-of-the-art gym, variety of restaurants including a wine bar and coffee shop and 20,000 sq ft. of meeting and event space including two ballrooms, an outdoor terrace for events and a Hyatt Regency Broadcast Lounge, allowing guests the option to attend a live conference in a hybrid manner. The hotel’s convenient location in the Panamanian capital will provide easy access to public transportation and area attractions like cinemas, restaurants, retailers, recreational activities and more. Additionally, the hotel is located a short drive from downtown Panama City, both the Pacific and Caribbean coasts, and local attractions such as the Panama Canal, the Casco Viejo neighborhood and the new Fuerte Amador cruise terminal.
Expected to open just in time for the 2024 summer season following an extensive renovation, Hyatt Regency Panama City will mark another milestone in Hyatt’s sustained brand growth strategy in the Latin America and Caribbean region.
“We’ve seen strong demand in travel to Central America, especially as guests, World of Hyatt members and customers seek both relaxing leisure vacations and exciting new options for meetings, events and corporate travel,” said Camilo Bolaños, senior vice president development, Latin America & the Caribbean. “The Hyatt Regency brand was built with guests’ needs in mind, considering every detail and design element, and Hyatt Regency Panama City will give travelers the opportunity to explore an urban destination with deep historic roots while giving them the resources and exceptional service needed to have a seamless, intuitive stay experience.”
“We are thrilled to collaborate with Hyatt to debut the Hyatt Regency brand in the heart of Panama City,” said Simon Hafeitz, president and director of Hotel Properties of Panama Inc. “Following a multi-million-dollar renovation, Hyatt Regency Panama City will deliver an unrivaled experience tailored to the needs of both business and leisure travelers with multifunctional rooms, notable food and beverage experiences, thoughtful amenities and a sophisticated design.”
Following the property’s expected opening in the summer of 2024, World of Hyatt members will have the opportunity to experience Panama City’s rich history and earn points on stays to use toward free nights, dining, wellbeing experiences and more.
To learn more information about the Hyatt Regency brand, please visit hyatt.com/brands/hyatt-regency.
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 Regency
The Hyatt Regency brand prides itself on making travel free from stress and filled with success. More than 230 conveniently located Hyatt Regency urban and resort locations in more than 45 countries around the world serve as the go-to gathering space for every occasion – from efficient personalized, high-touch business meetings to energizing family vacations. The brand offers stress-free environments for seamless gatherings and empathetic service that anticipates guests’ needs. Designed for productivity and peace of mind, Hyatt Regency hotels and resorts offer a full range of services and amenities, including the space to work, engage or relax; notable culinary experiences; technology-enabled ways to collaborate; and expert meeting and event planners who can take care of every detail. For more information, please visit hyattregency.com. Follow @HyattRegency on Facebook, Twitter and Instagram, and tag photos with #HyattRegency.
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, 2023, the Company’s portfolio included more than 1,250 hotels and all-inclusive properties in 76 countries across six continents. The Company’s offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Residence 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 World of Hyatt
World of Hyatt is Hyatt’s award-winning guest loyalty program uniting participating locations in Hyatt’s Timeless Collection, including in the Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Residence Club®, Hyatt Place®, Hyatt House®, and UrCove brands; Boundless Collection, including in the Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt® brands; Independent Collection, including in The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt® brands; and Inclusive Collection, including in the 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 brands. Members who book directly through Hyatt channels can enjoy personalized care and access to distinct benefits including Guest of Honor, confirmed suite upgrades at time of booking, diverse wellbeing offerings, digital key, and exclusive member rates. With more than 36 million members, World of Hyatt offers a variety of ways to earn and redeem points for hotel stays, dining and spa services, wellbeing focused experiences through the FIND platform; as well as the benefits of Hyatt’s strategic loyalty collaborations with American Airlines AAdvantage®, Small Luxury Hotels of the World™ andLindblad Expeditions. Travelers can enroll for free at hyatt.com, download the World of Hyatt app for android and IOS devices and connect with World of Hyatt on Facebook, Instagram, TikTok and Twitter.
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 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 the 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 geo-political 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; the pace and consistency of recovery following the COVID-19 pandemic and the long-term effects of the pandemic, additional resurgence, or COVID-19 variants, including with respect to global and regional economic activity, travel limitations or bans, the demand for travel, transient and group business, and levels of consumer confidence; the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants or other pandemics, epidemics or other health crises; 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 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 our ability to successfully integrate completed acquisitions with existing operations, including with respect to our acquisition of Apple Leisure Group and Dream Hotel Group and the successful integration of each business; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; declines in the value of our real estate assets; unforeseen terminations of our management 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, including as a result of the COVID-19 pandemic, 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 U.S. Securities and Exchange Commission (“SEC”), including our annual report on Form 10-K and our Quarterly Reports on Form 10-Q, which filings are available from the SEC. 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.