Hyatt Announces Purchase of Hyatt Regency Birmingham (United Kingdom)
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Hyatt Announces Purchase of Hyatt Regency Birmingham (United Kingdom)
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Category: Europe - United Kingdom - Industry economy -
Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2012-11-20
Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has purchased the Hyatt Regency Birmingham hotel in the United Kingdom for approximately USD$43 million.
The hotel has operated as Hyatt Regency Birmingham since its opening in 1990. Through its affiliates, Hyatt was one of the original co-owners, and since 2002 the hotel has been operated under a third-party management agreement. Starting in 2013, a Hyatt affiliate plans to invest approximately USD$10 million to renovate the hotel to strengthen its position as one of the leading hotels in Birmingham.
One of the best-situated hotels in Birmingham city center, Hyatt Regency Birmingham is a modern, four-star hotel that enjoys an unrivalled central location adjacent to Centenary Square. With a bridge link to the city’s landmark International Convention Centre, it is one of the leading convention hotels not just in Birmingham, but in the United Kingdom, regularly hosting such events as the annual conferences of the major political parties. It is also across the road from Birmingham’s Symphony Hall, and is just minutes from the National Indoor Arena (NIA) and the exclusive Mailbox and Bull Ring shopping centers. Occupying the entirety of a 24-story, glass-fronted building, the hotel dominates the skyline of central Birmingham.
“The team at the hotel is delighted at the news that a Hyatt affiliate has purchased the hotel, and as one of the most popular hotels in the city amongst both business and leisure guests, we have a proud history of hospitality in Birmingham and look forward to the exciting times ahead,” said Tim Flodin, General Manager, Hyatt Regency Birmingham. “At Hyatt Regency Birmingham, we are committed to supporting the local community, working closely with surrounding businesses, colleges and charities, including the Queen Elizabeth Hospital, Stourbridge College, University College Birmingham and catering college KHCSC.”
“Birmingham is one of the leading business tourism destinations in the United Kingdom, and Hyatt Regency Birmingham has long been a favorite choice in the city,” said Michael Gray, Area Director, United Kingdom and Ireland. “Hyatt has successfully provided management services for the hotel for many years and we are delighted that a Hyatt affiliate is once again the owner of this hotel, one of our key hotels in the United Kingdom. We believe that the hotel’s excellent location and full range of services, event capabilities and dining options will continue to make this one of the city’s very best places to stay and to hold an event, and we are very enthused about this investment in the property. Indeed on top of its existing strengths, we expect that improved transport links, such as the extended runway at Birmingham Airport and the high-speed London rail link will no doubt even further increase the attractiveness of Birmingham as an event destination in the future. We are also very enthusiastic about this because of Hyatt’s long and proud history in the UK.”
The hotel’s 319 luxury rooms and suites, including the exclusive Presidential Suite, all have floor-to-ceiling windows that command breath-taking views of the canal network or the city. For leisure, guests can visit the just-refurbished Amala Spa & Club for wellness and beauty treatments, the 16-meter indoor swimming pool and the newly equipped gymnasium. Hyatt Regency Birmingham is also home to the signature Aria Restaurant, which serves breakfast, lunch and dinner daily, and Pravda Bar, the perfect place for cocktails, champagne and a large selection of wines, each of which is earmarked for further enhancement as part of the planned renovation. One of the most popular business hotels in the city, Hyatt Regency Birmingham is an ideal venue for meetings and conferences, featuring 10 meeting and event rooms.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company’s subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt, Park Hyatt, Andaz, Grand Hyatt, Hyatt Regency, Hyatt Place® and Hyatt House brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt ResidencesTM and Hyatt Residence Club. As of September 30, 2012, the Company’s worldwide portfolio consisted of 496 properties in 45 countries.
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