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PCPD And Hyatt Announce Plans For Park Hyatt Hotel And Residences In Niseko, Japan

November 11, 2015 Hotel Developments No Comments Email Email

Pacific Century Premium Developments Limited (“PCPD”, SEHK: 00432) and Hyatt Hotels Corporation (NYSE: H) announced today that their affiliates have entered into a management agreement for a Park Hyatt hotel and residences in Niseko, Japan.http://www.rembrandtbkk.com/ Expected to open in 2019, Park Hyatt Niseko, Hanazono will join Park Hyatt Tokyo as the brand’s

second hotel in the country and will reflect the intimate and contemporary feel of the Park Hyatt brand while embracing the culture and beauty of Niseko.

Located in one of Asia’s foremost ski resort destinations, Park Hyatt Niseko, Hanazono will provide convenient access to New Chitose Airport, allowing guests to stay connected to the main hubs of Japan

and international destinations. Park Hyatt Niseko, Hanazono will also feature approximately 100 branded residences and will offer the first Park Hyatt residences in Japan. Park Hyatt Niseko, Hanazano will

operate a rental program that will allow participating owners, when not occupying their residences, to have Park Hyatt Niseko, Hanazano rent their residences.

“The agreement marks a key milestone in our Hokkaido project where we have long term plans to develop this area into a world-class resort destination,” said Robert Lee, PCPD’s Deputy Chairman and

Chief Executive Officer. “With this collaboration, we believe the project will be well received and the resort development will become a tourism landmark in Niseko, Hokkaido upon its completion, which will

support the long-term growth of the local community. PCPD is committed to increasing its presence in high-growth areas, particularly in the Asia Pacific region. There is currently strong interest among tourists

and investors in Japan, and we are delighted to announce this new development and move it forward.”

“We are excited to collaborate with PCPD, majority-owned by leading Hong Kong company, PCCW Limited, on this landmark luxury development,” said David Udell, Group President, Asia Pacific, Hyatt

Hotels Corporation. “This project is a testament to our commitment to strategic and thoughtful growth in Japan. We are grateful to have the opportunity to introduce the Park Hyatt brand to Niseko, one of the

most renowned ski resort destinations in the world, and we know that the brand’s sophisticated and personalized service will attract guests from around the world.”

Park Hyatt Niseko, Hanazono and its residences will be a pivotal part of PCPD’s resort and residential development in Niseko. The entire development, which will be undertaken in phases, has a site area of

approximately 789,000 square meters and a developable gross floor area of approximately 620,000 square meters.

Situated in Hanazono, one of the four ski areas of Niseko, guests will be within walking distance to ski trails in nearby Mount Annupuri with convenient ski-in and ski-out access. The hotel will feature approximately 100 guestrooms, a selection of specialty restaurants, extensive meeting space, a golf clubhouse, a ski shop and valet, a destination spa, a fitness center and a swimming pool to ensure guests a

memorable experience during their stay.

Park Hyatt Niseko, Hanazono will be a great addition to Hyatt’s growing portfolio in Japan and will join 10 Hyatt-branded hotels in the country, including Park Hyatt Tokyo, Andaz Tokyo Toranomon Hills,

Grand Hyatt Fukuoka, Grand Hyatt Tokyo, Hyatt Regency Hakone Resort and Spa, Hyatt Regency Fukuoka, Hyatt Regency Kyoto, Hyatt Regency Naha, Okinawa, Hyatt Regency Osaka and Hyatt

Regency Tokyo.

The term “Hyatt” is used herein for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

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