Expected to open late 2024, Grand Hyatt Deer Valley will expand Hyatt's brand presence in a vibrant resort market

Hyatt Hotels Corporation (NYSE:H) and Extell Development Company today announced the planned expansion of the Grand Hyatt brand in Park City, Utah. Expected to open late 2024, Grand Hyatt Deer Valley will mark the debut of the Grand Hyatt brand in Utah and will be located at the famed Deer Valley Resort. Uniquely designed as a captivating destination within a destination, the property will open as the first luxury hotel within Deer Valley Resort's forthcoming expansion.

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Grand Hyatt Deer Valley rendering (Photo: Business Wire)

Situated 40 minutes from the Salt Lake City International Airport, Grand Hyatt Deer Valley will offer 387 expansive guestrooms, inclusive of 40 suites, 55 private residences and 38,900 square feet of indoor event space, including a 10,000 square foot grand ballroom. Guests will be able to enjoy world-class dining options, including an après ski bar and grill, a signature bar and restaurant, and coffee bistro. The property will feature an expansive outdoor event terrace with panoramic mountain views, a heated year-round pool and whirlpool, fitness center, and more.

Expected to open in time for the 2024/2025 ski season, Grand Hyatt Deer Valley will mark another milestone in Hyatt's intentional growth strategy and provide guests and World of Hyatt members more ways to explore destinations through memorable experiences.

"Strategically positioned to meet increasing demand in resort markets, Grand Hyatt Deer Valley is a testament to the deliberate expansion of Hyatt's luxury brands in sought-after destinations," said Kimo Bertram, vice president of development, Americas. "The Grand Hyatt brand celebrates the iconic in small details and magnificent moments for guests, World of Hyatt members and customers. Grand Hyatt Deer Valley will deliver on this brand promise by providing a luxurious retreat for group and leisure travelers alike after a day of exploration and taking advantage of all the resort has to offer."

The hotel's convenient location at the famed Deer Valley Resort will provide easy access to the slopes and the resort's many winter and summer attractions, including various restaurants, retailers, a children's center, and one of the largest ski beaches in the world – the ideal gathering spot to lounge, soak up the sun and enjoy breathtaking mountain views. The hotel will be part of the planned expansion of Deer Valley Resort that will more than double the resort's skiable terrain and feature 16 new ski lifts and a state-of-the-art 10-passenger gondola; such network of chairlifts will offer efficient access to over 235 ski runs across 10 mountain peaks. Additionally, the hotel will be located a short drive from Park City's historic main street, as well as access to hiking, mountain biking, golf, horseback riding and various watersports during the summer months.

"Grand Hyatt Deer Valley has been years in the making and will be the cornerstone of our new village at Deer Valley Resort. We have meticulously designed a hotel offering luxurious finishes and best-in-class amenities to appeal to guests and their families seeking a stay in the mountains. In addition, Grand Hyatt Deer Valley will be one of the nation's only conference facilities located in a beautiful and easily accessible ski destination—a combination that is nearly unheard of within the industry," said Gary Barnett, Founder & Chairman of Extell Development Company. "Finally, in recognition of their service to our country, active and retired military members will receive certain benefits and amenities while staying at the hotel."

Following the property's expected opening in late 2024, World of Hyatt members will have the opportunity to experience Deer Valley's renowned ski resort and earn points on stays to use toward free nights, dining, wellbeing experiences and more.

To learn more information about the Grand Hyatt brand, please visit https://www.hyatt.com/brands/grand-hyatt.

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 Grand Hyatt

Around the world, Grand Hyatt hotels bring travel dreams to life by celebrating the iconic in small details and magnificent moments. Located at the crossroads of local culture and global business within major gateway cities and resort destinations, each Grand Hyatt hotel is uniquely designed to be a captivating destination within a destination. Grand Hyatt hotels deliver welcoming and elevated service, first-class accommodations and an abundance of options within a multicultural backdrop of dramatic architecture and bold and vibrant design. Grand Hyatt hotels boast inventive restaurants, luxury spas, fitness centers, and business and meeting facilities. For additional information or to make a reservation, please visit grandhyatt.com. Follow @GrandHyatt on Facebook and Instagram, and tag photos with #GrandHyatt.

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 September 30, 2023, the Company's portfolio included more than 1,300 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 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 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 Vacation 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™ and Lindblad 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

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.

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The Grand Hyatt Brand Set to Debut in Utah