Hyatt Announces Plans for First Hyatt Hotel in Cape Town

DUBAI (21 October 2020) - Hyatt Hotels Corporation(NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with South African real estate company, Millat Properties, for the first Hyatt-branded hotel in Cape Town. Hyatt Regency Cape Town, a 137-room hotel, is expected to open in December 2020, bringing the total number of Hyatt-branded hotels across Africa to eight, with two in South Africa. Hyatt affiliate has entered into a management agreement with South African real estate company, Millat Properties, to open the first Hyatt hotel in Cape Town. Hyatt Regency Cape Town, a 137-room hotel, is expected to open in December 2020, bringing the total number of Hyatt hotels across Africa to eight, with two in South Africa. The new Hyatt Regency Cape Town will be rebranded from the former Hilton Cape Town City Centre.

Africa, and particularly Sub-Saharan Africa, remains a key focus for growth for Hyatt as the continent is experiencing an increasingly favorable business climate, along with consistently heightened tourism. Prior to the COVID-19 pandemic, international tourist arrivals in Sub-Saharan Africa grew around 6% per year, higher than the global average.[1] Cape Town, in particular, is an attractive destination for both business and leisure travelers alike, with more than five million visitors to Cape Towns airport[2] each year. The coastal city, which is the second most populated city in South Africa, is an economic hub for business and innovation as well as an attractive destination for leisure travelers with its pristine beaches and lively culture.

"We're delighted to work with Millat Properties to bring the Hyatt Regency brand to Cape Town," said Ludwig Bouldoukian, regional vice president of development for the Middle East and Africa, Hyatt. "As a premier destination, Cape Town has been a top goal for us to have a Hyatt hotel, and we believe there is meaningful potential for further growth in South Africa. Hyatt Regency Cape Town is a key element of our strategy to grow thoughtfully in markets where we know our guests are traveling."

Hyatt Regency Cape Town will bring the Hyatt Regency brand's signature seamless, personalized service and energizing experiences to business and leisure guests alike. The hotel is situated at the foot of the iconic Table Mountain, one of Cape Town's most prominent and famous tourist landmarks, bordering the historic Bo-Kaap district with its steep and narrow streets. The vibrant and colorful neighborhood is a popular area for tourists looking to experience South Africa's rich, multicultural history.

"It is a delight to team up with the Hyatt Regency brand, who is synonymous with a first-class travel experience," said Hamza Farooqui, chief executive officer of Millat Properties. "Millat will extensively refurbish the hotel prior to reopening using renowned international interior designers, LW Design. Knowing Hyatt and Millat share equally high standards around the guest experience, we are delighted to bring the Hyatt Regency brand to life in this iconic location."

The hotel will feature 137 rooms, including 15 suites, three food and beverage outlets, as well as leisure facilities including a fitness area and an outdoor pool. For corporate guests, the property offers 1,312 square feet (400 square meters) of meeting space as well as an executive lounge.

"The news of a Hyatt-branded property opening within the City of Cape Town is a welcome addition to the tourism sectorand is a positive indicator reflecting the travel industrys road to recovery," saidMmamolokoKubayi-Ngubane, South African Minister for Tourism. "Like many others in our country, Cape Town is truly unique, offering visitors unforgettable experiences with an abundance of natural beauty and attractions to visit. Hyatt Regency Cape Town will be the perfect addition to the hospitality sector in this historic city."

The announcement of Hyatt Regency Cape Town follows a significant expansion in Hyatts footprint in Sub-Saharan Africa, fueled by the Hyatt Regency brand. Three Hyatt Regency hotels are already open in the sub-Saharan region: Hyatt Regency Johannesburg, Hyatt Regency Dar es Salaam and Hyatt Regency Addis Ababa with two more scheduled openings for the Hyatt Regency brand over the next three years: Hyatt Regency Nairobi, Kenya and Hyatt Regency Lagos Ikeja, Nigeria.

For more information, visit www.HyattRegency.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.

Images are available on request.

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About Hyatt Regency

The Hyatt Regency brand prides itself on making travel free from stress and filled with success. More than 200 conveniently located Hyatt Regency urban and resort locations in more than 30 countries around the world serve as the go-to gathering space for every occasion from efficient personalized, high-touch business meetings to energizing family vacations. The brand offers stress-free environments for seamless gatherings and empathetic service that anticipates guests needs. Designed for productivity and peace of mind, Hyatt Regency hotels and resorts offer a full range of services and amenities, including the space to work, engage or relax; notable culinary experiences; technology-enabled ways to collaborate; and expert meeting and event planners who can take care of every detail. For more information, please visithyattregency.com. Follow @HyattRegency on Facebook, Twitter and Instagram, and tag photos with #HyattRegency.

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About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company offering 21 premier brands. As of June 30, 2020, the Company's portfolio included more than 900 hotel, all-inclusive, and wellness resort properties in 65 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 employees, 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 thePark Hyatt,Miraval,Grand Hyatt,Alila,Andaz,The Unbound Collection by Hyatt,Destination,Hyatt Regency,Hyatt,Hyatt Ziva, Hyatt Zilara, Thompson Hotels, Hyatt Centric, Caption by Hyatt,Joie de Vivre,Hyatt House,Hyatt Place,tommie,UrCove, Hyatt Residence ClubandExhalebrand names, and operates the World of Hyattloyalty program that provides distinct benefits and exclusive experiences to its valued members.For more information, please visitwww.hyatt.com.

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About Millat Properties

Millat Properties is part of Millat Group - a private family office which uses its own balance sheet to bring clever and entrepreneurial solutions to complex commercial problems. The Group has a strong investment portfolio which includes real estate, direct investments, and private equity holdings. It owns flagship assets in South Africa and internationally. It deploys its capital and know-how on assets and sectors it deeply understands. Its sectors of expertise include real estate, hospitality, technology, and financial services.

For more information, please visit: www.millatinvest.com

[1] https://www.atta.travel/news/2019/04/an-analysis-of-africas-tourism-market-for-april-2019/

[2]https://www.da.org.za/government/undefined/2020/01/year-on-year-growth-in-passenger-numbers-recorded-at-cape-town-international-airport