Hyatt Hotels Corporation (NYSE: H) and Emirates Pearl for Development &
Investment L.L.C. (EPDI) announced today that a Hyatt affiliate and
Emirates Pearl have entered into an agreement for the management of a
Grand Hyatt hotel in Abu Dhabi, which is expected to open in 2015.
Emirates Pearl for Development & Investment is a joint venture between a
subsidiary of Atlas Group and Tourism Development & Investment Company
(TDIC). TDIC is a master developer of major tourism, cultural and
residential destinations in Abu Dhabi.
Destined to be iconic, the 47-story hotel will be located on the
southwest end of the Coastal Boulevard in the prestigious Ras Al Akhdar
district of central Abu Dhabi. It will be conveniently located close to
upscale shopping malls and tourist attractions and only 30 minutes from
Abu Dhabi International Airport.
The contemporary “twisting” glass tower will offer 368 rooms and 60
fully furnished service apartments with four restaurants, a lounge, two
bars, extensive meeting facilities and a sophisticated spa and fitness
center. The hotel is being designed by Dennis Lems Architects
Associates, with interiors by MKV Design of London.
According to H.E. Ahmed Seddiq Al Mutawaa, Chairman of Atlas Group and
EPDI, "Our relationship today with a world-class operator such as Hyatt
follows a detailed due diligence process undertaken by Atlas Group and
its consultants and advisors. Hyatt shares our vision for the hotel and
we are delighted to have the opportunity to work together. Furthermore,
I believe that the success of this ambitious project will be assured by
the continuing support of the Abu Dhabi Tourism and Culture Authority
and the Tourism Development & Investment Company. The building and
operation of this hotel is further evidence of the momentous tourism
development program initiated by the government of Abu Dhabi.”
Peter Fulton, Group President for Europe, Africa, Middle East/Southwest
Asia, Hyatt said, “Grand Hyatt hotels are known for their luxurious
accommodations, extraordinary restaurants, dramatic architecture and
state-of-the-art meeting services. Grand Hyatt Abu Dhabi Hotel &
Residences Emirates Pearl will fulfill all these criteria and offer a
complete destination. We are delighted to work together with Atlas
Telecommunications and Tourism Development & Investment Company to
introduce the Grand Hyatt brand to the UAE capital. ”
Grand Hyatt Abu Dhabi Hotel & Residences Emirates Pearl will be the
third Hyatt-branded property in the city of Abu Dhabi and will join
Grand Hyatt Dubai as the second Grand Hyatt hotel in the United Arab
Emirates.
The term “Hyatt” is used in this release for convenience to refer to
Hyatt Hotels Corporation or one more of its affiliates.
About Grand Hyatt
Grand Hyatt hotels provide first-class accommodations, dramatic
architecture and state-of-the-art technology in major gateway cities and
resort destinations. Sophisticated global travellers stay in these
hotels to experience extraordinary restaurants, bars, spas and fitness
centers, as well as comprehensive business and meeting facilities. For
more information or to make a reservation, please visit www.grandhyatt.com.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global
hospitality company with a proud heritage of making guests feel more
than welcome. Thousands of members of the Hyatt family strive to make a
difference in the lives of the guests they encounter every day by
providing authentic hospitality. The Company's subsidiaries manage,
franchise, own and develop hotels and resorts under the Hyatt®,
Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt
House®, Hyatt Zilara™ and Hyatt
Ziva™ brand names and have locations on
six continents. Hyatt Residential Group, Inc., a Hyatt
Hotels Corporation subsidiary, develops, operates, markets or
licenses Hyatt Residences® and Hyatt Residence Club®.
As of March 31, 2014, the Company's worldwide portfolio consisted of 554
properties in 47 countries. For more information, please visit www.hyatt.com.
Emirates Pearl for Development and Investment L.L.C
Is a joint venture Company between Atlas Telecommunications and Abu
Dhabi’s Tourism Development and Investment Company.
About Atlas Group
Atlas Group is a multi-faceted conglomerate of businesses that was
founded in 1983 in Abu Dhabi, the capital of the United Arab Emirates.
Its Companies are varied but bound by a common thread: unparalleled
customer services and turnkey solutions.
The commercial entities within the Group serve the people, governments
and businesses of the UAE and wider Gulf region with a diverse range of
services and solutions. These include cutting-edge technologies in
satellite systems, telecommunications and security solutions. They also
include the importation and distribution of world-class products that
range from medical devices to the highest grade of fresh and frozen
foods from around the world.
Each Atlas Group Company has its own distinct style and each enjoys
great success. They all, however, share a common vision and approach:
dependability, flexible customization, rapid deployment and exemplary
customer support. These are the values that have guided each and every
Group Company towards building long-term customer loyalty and
professional success. www.atlasgroup.ae
About Tourism Development & Investment Company (TDIC)
Tourism Development & Investment Company (TDIC), established in 2006 and
fully owned by Abu Dhabi Tourism & Culture Authority, is a master
developer of major tourism, cultural and residential destinations in Abu
Dhabi. These include Saadiyat, a natural island ten minutes drive from
downtown Abu Dhabi featuring luxury resorts, championship beachfront
golf courses, sophisticated residential communities, retail destinations
and cultural institutions - designed by world-renowned Pritzker
Prize-winning architects - such as Zayed National Museum, Louvre Abu
Dhabi and Guggenheim Abu Dhabi. TDIC is also developing Desert Islands,
a heritage-based tourism destination composed of eight islands - Sir
Bani Yas Island, the historical Dalma Island and the previously
unexplored Discovery Islands. TDIC has built a strong reputation among
international industry players for its compelling value proposition,
transparency of business approach and ability to deliver. The company
has been awarded high investment grade ratings of A1, AA, and AA by
three top credit rating agencies, Moody’s, Standard & Poor’s and Fitch
Ratings, respectively. These ratings reflect TDIC’s strong financial
position and support the company’s credit worthiness to investors,
lenders and other market participants.
By creating investment partnerships and joint ventures, TDIC’s
developments are helping to support the Emirate’s evolution into a
world-class destination for tourists, businesses and residents. TDIC
offers significant employment and vocational training opportunities for
Emiratis keen to enhance their careers and professional qualifications.
For further information, please visit http://www.tdic.ae.
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