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Hyatt To Significantly Expand Presence in Caribbean.

CHICAGO--(BUSINESS WIRE)--Jan. 14, 1998--

New Properties in St. Kitts and St. Lucia Will Extend Hyatt's

Reach in the Region: Other Hotels and Resorts in the Works

Throughout North America

Hyatt will soon offer travelers more places to be pampered in paradise with the creation of two new Caribbean resorts.

The new resorts, one in St. Kitts and one in St. Lucia, are scheduled to begin construction in summer of 1998 and open in late 1999 or early 2000. The new resorts will complement Hyatt's four other Caribbean resorts in: Aruba; Grand Cayman; Dorado Beach, Puerto Rico and Cerromar Beach, Puerto Rico. Currently, there are 32 Hyatt resorts around the world. Hyatt anticipates announcing additional resort projects in the coming months.

Hyatt Regency St. Kitts Resort & Casino

The 200-room Hyatt Regency St. Kitts Resort & Casino will be the island's first major chain resort. On South Friar's Bay and only 20 minutes from the capital city of Basseterre and Golden Rock Airport, the resort will offer a casino and access to an 18-hole championship golf course. In addition, the resort will have its own beach, a landscaped swimming pool area with outdoor Jacuzzis, a health club, Regency Club, Camp Hyatt and exciting watersports. The hotel will also offer a 4,000 sq. ft. ballroom, two 1,000 sq. ft. conference rooms and a boardroom.

Hyatt Regency St. Kitts Resort & Casino will be owned by Windsor Developments, Ltd., which is comprised of a newly created Hyatt affiliate (Hyatt Hotels (St. Kitts), Ltd.) and a consortium of investors including Ballast Nedam, and Owen Matalon and St. Kitts resident Arthur Sharpe, who are also the property's developers. The resort will be managed by Hyatt.

Hyatt Regency St. Lucia

The 300-room Hyatt Regency St. Lucia, Hyatt's first property in the Windward Islands of the Southeast Caribbean, will be built in British colonial style, replete with lush tropical gardens. Situated on the shores of Rodney Bay on the north side of St. Lucia, the resort will lie on an isthmus about 15 minutes north of Castries, the island's capital and cruise port. The resort will include a lush, landscaped swimming pool area, outdoor Jacuzzis, a health club, two restaurants, two bars, Regency Club, Camp Hyatt, golf, tennis and an array of watersports. A 6,000 sq. ft. ballroom, two 1,500 sq. ft. meeting rooms and a boardroom will also be available.

Hyatt Regency St. Lucia will be owned by Pigeon Point Hotel, Ltd., which is comprised of a newly created Hyatt affiliate (Hyatt Hotel of St. Lucia, Ltd.), Rochamel Construction Company (the resort's developer) and several British investors. The resort will be managed by Hyatt.

More new hotels and resorts

The development of Hyatt Regency St. Kitts Resort & Casino and Hyatt Regency St. Lucia is part of Hyatt's overall growth strategy. Currently, three Hyatt hotels are under construction: Hyatt Regency McCormick Place (Chicago), Hyatt Valencia (Los Angeles area), and a new Park Hyatt Chicago, which is being built as part of a new 67-story mixed-use building near Chicago's Water Tower. In addition, agreements have been executed for Hyatt hotels to be built in Whistler, B.C., Canada; Penn's Landing (Philadelphia); Pittsburgh International Airport; Lake Las Vegas; Rosemont (near O'Hare International Airport); and Chesapeake, Md. In the last several years, Hyatt and its affiliates have spent more than $800 million in acquiring and expanding Hyatt hotels and resorts.

CONTACT: Hyatt Hotels Corporation

K.C. Kavanagh, Gary Ross, 312/750-8377/8091
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Date:Jan 14, 1998
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