Hyatt and Mizrahi Developments Announce Plans for Andaz Toronto – Yorkville

Hyatt’s luxury Andaz brand expected to make Toronto debut in 2022
with a new hotel located at The One, set to be tallest building in Canada

CHICAGO–(BUSINESS WIRE)–Hyatt
Hotels Corporation
(NYSE: H) announced today that a Hyatt affiliate
has entered into a management agreement with Mizrahi Developments to
build a 160-room luxury Andaz hotel at the prestigious address of One
Bloor Street West in Toronto, Ontario, Canada. Slated to open in 2022,
the first Andaz hotel in Toronto will be the hotel component of The One,
a commercial and residential luxury mixed-use tower that is expected to
be the tallest building in Canada, upon completion. The Andaz brand
features 18 hotels globally and is designed to attract inspired
expressives: well-traveled creative individuals who embrace their own
personal style.


Situated at the iconic intersection of Yonge and Bloor streets, the new
Andaz Toronto – Yorkville will enable guests to go beyond the familiar
and provide connectivity to the bustle of downtown with the
distinguished vibrancy of midtown’s high-end Yorkville neighborhood.
Converging over the city’s two main subway lines, the location marks the
eastern gate of Toronto’s upscale commercial strip along Bloor Street,
offering unparalleled living, working, shopping, dining and entertaining
experiences. The hotel will occupy floors 4 through 16 of the mixed-use
tower, offering more than 15 luxury suites, more than 12,000 square feet
of event and conference space, food and beverage experiences, a spa, and
more. The hotel’s contemporary, beverage-forward culinary concept is
currently under development and will be managed by one of Toronto’s
leading restaurant groups. More details will be announced in coming
months.

“Yonge and Bloor streets are the crossroads to one of the most
multi-cultural places in the world,” said Scott Richer, vice president
of real estate and development, Canada for Hyatt “Given the confluence
of architecture, design and sheer quality that this project represents,
we could not have found a more suitable location to bring the immersive
and vibrant Andaz brand to Toronto.”

“It is an honor to announce this prestigious and significant project,”
said Sam Mizrahi, owner, Mizrahi Developments. “This serves as
validation for almost a decade of vision and hard work by the collective
team, and it is a true testament to Toronto’s growing importance on the
global scene.”

One Bloor West’s more-than 1,000-foot, 85-story exoskeletal design is
the collaboration of Pritzker Architecture Prize Laureate Norman Foster
and Toronto-based Core Architects. In addition to its striking exterior,
this architectural method gives way to column-free space throughout the
building, providing for a fluid lobby and public space that will be
designed to invoke to invoke a barrier-free and unscripted experience
that is signature to the Andaz brand. Complemented by landscaped
sidewalks and generous setbacks, the design intention of the project is
to balance its density with public spaces that are inviting and open.
Toronto’s innovative DesignAgency has been commissioned to design the
hotel’s interiors.

Hyatt currently has nine properties open in Canada under the Park Hyatt,
Andaz, Hyatt Regency, Hyatt Place, Thompson Hotels and The Unbound
Collection by Hyatt brands. Hyatt currently has more than 20 full- and
select-service hotels under development under the following brands:
Andaz, Hyatt Regency, Hyatt Centric, Hyatt Place, Hyatt House.

For more information, please visit www.andaz.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 ANDAZ

Global in scale while local in perspective, the Andaz brand of luxury
hotels weaves the sights, sounds, and tastes of each property’s
surroundings for a distinctively local experience. Through thoughtful,
unscripted service tailored for travelers, Andaz hotels enable guests to
go beyond the familiar and satiate their curiosity while immersing them
in the spirit of the eclectic culture around them. Nineteen Andaz hotels
are currently open: Andaz 5th Avenue and Andaz Wall Street in New York,
Andaz San Diego, Andaz West Hollywood, Andaz Napa, Andaz Scottsdale
Resort & Spa, Andaz Savannah, Andaz Maui at Wailea Resort, Andaz Munich
Schwabinger Tor, Andaz Ottawa ByWard Market, Andaz Mayakoba Resort
Riviera Maya, Andaz Costa Rica Resort at Peninsula Papagayo, Andaz
London Liverpool Street, Andaz Amsterdam Prinsengracht, Andaz Singapore,
Andaz Delhi, Andaz Xintiandi in Shanghai, Andaz Tokyo Toranomon Hills,
and Andaz Capital Gate Abu Dhabi. For more information, please visit andaz.com.
Follow @Andaz on FacebookTwitter and Instagram,
and tag photos with #WhenInAndaz.

ABOUT MIZRAHI DEVELOPMENTS

Mizrahi Developments is a proven leader in identifying mixed-use,
commercial and residential opportunities and executing an inspired
vision for them to the highest international standards with world-class
architects and designers. With over 20 years of experience in real
estate development and high-end building in North America, the private
company, based in Toronto, Canada, is recognized for its unwavering
commitment to quality no matter the size or scale of the project.
Mizrahi Developments aims to be the best, and it is a matter of personal
integrity with which it continues to develop an award-winning brand
characterized by innovative architecture, precise craftsmanship, high
attention to detail, and a hands-on pursuit of excellence in all aspects
of its business. For more information, please visit www.mizrahidevelopments.ca
& www.onebloorwest.com.

ABOUT HYATT HOTELS CORPORATION

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global
hospitality company with a portfolio of 19 premier brands. As of
December 31, 2018, the Company’s portfolio included more
than 850 properties in 60 countries across six continents. The Company’s
purpose to care for people so they can be their best informs its
business decisions and growth strategy and is intended to attract and
retain top colleagues, build relationships with guests and create value
for shareholders. The Company’s subsidiaries develop, own, operate,
manage, franchise, license or provide services to hotels, resorts,
branded residences, vacation ownership properties, and fitness and spa
locations, including under the Park Hyatt®, Miraval®, Grand
Hyatt®
, Alila®
, Andaz®, The
Unbound Collection by Hyatt®
, Destination®
Hyatt
Regency®
, Hyatt®, Hyatt Ziva
, Hyatt
Zilara
, Thompson Hotels®, Hyatt
Centric®
, Hyatt House®, Hyatt Place®, Joie
de Vivre®
tommie™Hyatt
Residence Club® 
and Exhale® brand names,
and operates the World of Hyatt® loyalty program that provides
distinct benefits and exclusive experiences to its valued members. For
more information, please visit www.hyatt.com.

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 our actual results,
performance or achievements to differ materially from current
expectations include, among others, the rate and the pace of economic
recovery following economic downturns; levels of spending in business
and leisure segments as well as consumer confidence; declines in
occupancy and average daily rate; 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; 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 capital necessary
to fund current operations or implement our plans for growth; risks
associated with potential acquisitions and dispositions and the
introduction of new brand concepts; the timing of acquisitions and
dispositions, and our ability to successfully integrate completed
acquisitions with existing operations; 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; changes in the
competitive environment in our industry, including as a result of
industry consolidation, and the markets where we operate; our ability to
successfully grow the World of Hyatt loyalty program; cyber incidents
and information technology failures; and other risks discussed in the
Company’s filings with the U.S. Securities and Exchange Commission,
including our Annual Report on Form 10-K, which filings are available
from the U.S. Securities and Exchange Commission. 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.

Contacts

Jorian Weiner
Hyatt
+1 312 780 3004
[email protected]

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