Hyatt Hotels Corporation announced plans to expand its Grand Hyatt and Hyatt Regency brands in Pakistan with the signing of management agreements by a Hyatt affiliate for four Hyatt-branded hotels: Grand Hyatt Islamabad, Hyatt Regency Karachi, Hyatt Regency Lahore, and Hyatt Regency Rawalpindi. Bahria Town, one of the largest private developers in Asia, will own the four Hyatt-branded hotels.
?We look forward to collaborating with the Bahria team to open the first Grand Hyatt and Hyatt Regency hotels in Pakistan,? said Peter Norman, senior vice president, acquisitions and development ? Europe, Africa, and Middle East (EAME) and Southwest Asia for Hyatt. ?Following last year?s announcement for the China-Pakistan Economic Corridor (CPEC), we are optimistic about the growth of Hyatt?s brands in Pakistan. The opening of these hotels will serve as a testament to the global appeal of the Grand Hyatt and Hyatt Regency brands as they continue to expand worldwide and offer more choices to our guests.? With the announcement a Grand Hyatt and three Hyatt Regency hotels in Pakistan, Hyatt is taking another step in growing its brand footprint in the Middle East and Southwest Asia. The EAME/Southwest Asia region is a significant growth opportunity for Hyatt as the segment accounts for approximately 25 percent of the company?s executed contract rooms base. As of December 31, 2015, the Company had approximately 60 Hyatt-branded hotels under development in EAME/Southwest Asia.
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