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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.
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