Property-wide, multi-phase transformation is
underway at the iconic 2,500-room hotel as it expands Hyatt’s brand
footprint in a leading leisure and convention travel market and
prepares to transition into the Destination by Hyatt brand this
fall
Hyatt Hotels Corporation (NYSE:H), together with Rio Hotel &
Casino, announced today that World of Hyatt members can now earn
and redeem points for qualifying stays at the Hyatt-affiliated
hotel, which is in the midst of a multi-phased, $340 million
transformation. Phase one of the hotel’s two-phase renovation is
expected to be completed in fall 2024, when the reimagined
all-suite hotel will move into Hyatt’s Independent Collection under
the Destination by Hyatt brand.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240301498944/en/
Rio Hotel & Casino, Las Vegas
Lifestyle Shot (Photo: Business Wire)
“We’re proud to collaborate with Rio Hotel & Casino on this
transformational project to revitalize the iconic hotel as a
Destination by Hyatt hotel,” said David Tarr, senior vice president
of development, Americas, Hyatt. “Destination by Hyatt hotels are
individual at heart and embody the true spirit of the destination,
and Rio Hotel & Casino will be no exception. This renovation
will serve as a gateway for guests to experience a place of
purposefully crafted entertainment and immersive experiences,
infused with authentic design, and warm and welcoming service. We
look forward to providing World of Hyatt members and guests an
authentic and unforgettable experience in Las Vegas.”
Rio Hotel & Casino, which is owned and operated by
Dreamscape, will mark the first Destination by Hyatt hotel in
Nevada and the third Hyatt hotel in the Las Vegas area,
strengthening Hyatt’s brand footprint and leading the way for new
growth in one of the most visited leisure, group, and convention
markets in the world.
When complete, the reimagined Rio Hotel & Casino will be
completely transformed into a paradise for all. A place of
adventure and discovery beyond the Strip, Rio Hotel & Casino
renovation includes fresh design, thoughtful amenities, upgraded
offerings and friendly service creating a place that is comfortable
for everyone to enjoy, find inspiration and be themselves. Phase
one renovations began in 2023 and are near completion with
extensive upgrades and enhancements to the 1,501-room Ipanema
tower, arrival area, building exterior, lobby, gaming floor, sports
book, multiple food and beverage outlets, meeting spaces, and
outdoor pool area.
Phase two will include a full renovation and redesign of the
hotel’s 1,012 Masquerade Tower guestrooms and associated public
areas.
"We are thrilled to welcome World of Hyatt members to the Rio
Hotel & Casino as we embark on revitalizing this iconic Las
Vegas landmark,” expressed Eric Birnbaum founder of Dreamscape.
"For almost 30 years the Rio has been one of the most exciting and
talked about resorts in Las Vegas. Working with Hyatt opens the
door for us to share this special place with an entirely new group
of travelers and we look forward to them witnessing the changes we
have made to date and will continue to make throughout the
renovation.”
Redefining the hotel experience for leisure guests and business
travelers, the reimagined hotel will welcome guests to enjoy
spacious suites with floor-to-ceiling views of the Las Vegas
Valley, vibrant dining and nightlife venues for inventive cocktails
and cuisine, high-energy casino excitement and world-class
entertainment that embodies the true spirit of Las Vegas, while
providing everything travelers need in one place once renovations
are completed in the fall. The hotel will meet the demand of Las
Vegas’ burgeoning meetings and event business with more than
220,000 square feet of renovated function space and
state-of-the-art meeting facilities.
Effective March 1, Rio Hotel & Casino is fully participating
in the World of Hyatt program allowing members to earn and redeem
points for eligible stays in Las Vegas. To provide World of Hyatt
members even more ways to be rewarded, World of Hyatt is offering
members 500 Bonus Points for every qualifying night at Rio Hotel
& Casino from April 1 to June 30, 2024, as part of the new
hotel bonus point offer. Additional participating hotels and their
offer stay periods can be found at hyatt.com/newhotelbonus. No
registration is required and members can earn on top of other
offers.
Centrally located at 3700 W. Flamingo Road, just a short walk
from the Las Vegas Strip and a less than 15-minute drive from Harry
Reid International Airport, Rio Hotel & Casino provides guests
with even more options for exploration, adventure and creativity in
the heart of Las Vegas, but away from the hustle and bustle.
To learn more about Rio Hotel & Casino, please visit
HyattRioLasVegas.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 December 31, 2023, the
Company's portfolio included more than 1,300 hotels and
all-inclusive properties in 77 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 Vaction 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 40 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® and Small Luxury
Hotels of the World™. 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.
About Destination by Hyatt
The Destination by Hyatt brand is a diverse collection of
independent hotels, resorts and residences that are individual at
heart yet connected by a commitment to embody the true spirit of
each location. Ranging from upper-upscale to luxury, each property
is purposefully crafted to be a place of immersive discoveries,
authentic design, and warm and welcoming service. As an honored
host, each Destination by Hyatt location connects guests to both
people and place—offering a sense of belonging that invites all to
make our destination yours. For more information, visit
destinationbyhyatt.com. Follow the
Destination by Hyatt brand on Instagram: @destinationhotels,
Twitter: @Destination, and Facebook: Destination Hotels.
About Dreamscape
Dreamscape’s talented team of real estate professionals has
collectively deployed in excess of $35 billion across residential,
retail, hospitality, entertainment and gaming properties and has
decades of experience in these verticals. Eric Birnbaum and his
team have assets in New York, Miami, Phoenix, Los Angeles,
Nashville, New Orleans, Charleston and Philadelphia. The team has
worked on a diverse portfolio of significant properties, including
critically acclaimed endeavors such as Henry Hall in New York’s
Hudson Yards, The Pod Hotel in New York’s Times Square, The
Goodtime Hotel in South Beach, Miami and Rio Hotel & Casino in
Las Vegas.
About the Rio Hotel & Casino Las
Vegas
Located one block off the famed Las Vegas Strip on Flamingo
Road, Rio Hotel & Casino Las Vegas features over 2,500 580 Sq.
Ft. all-suite guest rooms, 220,000/sf of convention and meeting
space, a 5-acre pool area, and a 150,000/sf casino with 40+ tables
and 1000+ slot machines. Dreamscape’s plan for the resort’s future
includes a property refresh, from dynamic new dining offerings to a
variety of entertainment options. Dreamscape’s intent is to
preserve the property’s architecture and honor its legacy. The
property will remain open throughout the renovations.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240301498944/en/
Emily Mekstan Hyatt Emily.mekstan@hyatt.com
Hyatt Hotels (NYSE:H)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Hyatt Hotels (NYSE:H)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024