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Hyatt announces plans for hotel in Managua, Nicaragua
Hyatt Hotels Corporation recently announced that a Hyatt affiliate has entered into a master development agreement with LATAM Hotel Corp. to develop 10 Hyatt Place hotels in Central America and Mexico.
Located in Nicaragua’s capital city, Hyatt Place Managua is expected to open in 2015. The 140-guestroom hotel is being developed on a 77,500 square foot site (7,400 square meters), conveniently located next to Galerias Santo Domingo, Managua’s premier shopping center, with access to over 130 stores and 20 restaurants and bars. The hotel will be 20 minutes from Augusto C. Sandino International Airport.
“We are delighted to be working with LATAM Hotel Corp. as we continue increasing the representation of the Hyatt Place brand throughout Latin America,” said Pat McCudden, Senior Vice President, Real estate and Development – Latin America and Caribbean for Hyatt Hotels & Resorts. “We believe Central America has strong economic growth potential, and we are excited to see these five hotels become the first Hyatt-branded hotels in their respective countries.”
Fernando Paiz, President of LATAM Hotel Corp., said “Hyatt Place is a top-performing brand that is rapidly expanding throughout the Americas and is becoming a favored option among travelers in the markets that it is entering. Introducing the Hyatt name and culture of hospitality to Central America through Hyatt Place hotels allows us to tap into an important business and leisure travel market. It is a brand that offers the modern style and seamless experience that is desired by both business and leisure travelers.”
LATAM Hotel Corporation is a Latin American company, developing a platform of mixed use projects in Central America and Mexico with strategic alliances such as Hyatt Place. It is focused on first choice project locations, sustainable, efficient and modern design, respect and integration of local communities in terms of social, cultural and economic return. LATAM Hotel Corporation properties will become reference points in their city, linking today’s modern travelers’ needs under one concept of lifestyle and security.