First dual-branded Hyatt development in Los Angeles brings an elevated experience to the rapidly evolving LAX neighborhood

CHICAGO (November 9, 2021) – Hyatt Hotels Corporation (NYSE: H) announces the opening of the Hyatt Place LAX / Century Blvd and Hyatt House LAX / Century Blvd, both located directly adjacent to Los Angeles International Airport (LAX) and with views of the LAX runways and the lights of downtown Los Angeles. In the midst of LAX’s robust $14B renovation, the new properties, managed by Prism Hotels & Resorts, are steps away from the airport’s highly anticipated “people mover,” and brings an elevated Hyatt experience to the rapidly evolving neighborhood.

Originally built in 1967 by famed architect Welton Becket, who was also behind LAX’s iconic Theme Building, the new dual-branded hotel development brings a fresh perspective to these two Hyatt brands with a mid-century modern design, the tallest rooftop terrace and only outdoor rooftop pool in the airport district, and two destination-worthy dining restaurants from local favorite Greenleaf Kitchen & Cocktails, including their signature healthy gourmet restaurant on the hotels’ lobby level and their first upscale dining concept, ShoresLAX, on the 15th floor rooftop.

“We are excited to introduce this impressive property to the LAX airport market,” said General Manager Kenan Tekin. “Located next to one of the busiest airports in the U.S., Hyatt Place LAX / Century Blvd and Hyatt House LAX / Century Blvd provide a new level of convenience and a host of exceptional amenities for travelers going through LAX. We’ve put an emphasis on high-comfort, resort-style amenities not found elsewhere in the airport district – from our fitness center and rooftop pool to the unparalleled dining options at Greenleaf and ShoresLAX – that will attract both travelers and locals alike.”

As the first dual-branded Hyatt development in the Los Angeles area, the properties offer casual hospitality and purposeful service in a smartly designed, high-tech and contemporary environment. Whether visiting for a business trip, long layover, weekend getaway to L.A, or an event at the nearby Sofi Stadium, guests will be immersed in a relaxing atmosphere that allows for a seamless transition from work to play.

DESIGN

With design led by carrier johnson + CULTURE, the hotels feature a mid-century modern aesthetic inspired by the building’s 1960s architecture. Guests are greeted by a mix of rich wood tones, geometric light fixtures and tile patterns, multi-layered textures and bold accent colors, complemented by statement pieces like a vintage pool table in the lobby and waffle ceilings retrofitted from the previous office building. Colorful artwork throughout the hotels, curated by Kalisher, is a nod to the Southern California lifestyle with imagery inspired by the geography, activities, and lifestyle, such as surfers and skateboarders, waves crashing and palm trees swaying. Other notable design elements include the main entry porte-cochere sculpture by renowned artist Christopher Puzio and a giant illuminated infinity glass art installation behind the check-in desk.

STAY

The new hotels bring 401 rooms to LAX with floor-to-ceiling windows offering natural light and front row views of planes arriving and departing from the runway. Embracing LA’s historical mid-century architecture and design with a contemporary twist, the spacious guestrooms feature a warm color palette with rich tones of tan, brown and black, geometric carpet designs, recessed waffle ceilings and contemporary finishes, along with flat-screen TVs, KenetMD bath amenities, coffee maker, mini fridge, and work desk.

The 272-room Hyatt Place LAX / Century Blvd provides a casual atmosphere and guestrooms with separate spaces to sleep, work and play, along with practical amenities, such as free Wi-Fi and 24-hour food offerings. Ideal for extended stays, the 129-room Hyatt House LAX / Century Blvd provides guests with apartment-style suites with fully equipped kitchens and comfortable living rooms to make them feel at home. Together, the two hotels will offer an array of shared services and amenities to cater to both the needs of transient and extended stay guests.

EAT

The new hotels have collaborated with LA-based Greenleaf Kitchen & Cocktails to offer two destination-worthy dining concepts, ShoresLAX and Greenleaf Kitchen & Cocktails. Helmed by Greenleaf’s Executive Chef, Blake Clevenger, the new restaurants bring chef-driven, locally-inspired, dining experiences not found at other the nearby airport hotels.

Greenleaf’s first upscale dining concept, ShoresLAX, is located on the hotel’s 15th floor rooftop and offers a chic bohemian vibe and stunning 360-degree views of the LAX runways and surrounding sights. The perfect spot to enjoy an evening cocktail or brunch before a flight, the restaurant features Southern California-inspired dishes such as shrimp ceviche, New York strip with avocado salad and garlic fries, and craft cocktails named after local beaches, such as the Playa del Penicillin with scotch, ginger, honey and lemon.

The restaurant group also opened its signature healthy gourmet restaurant, Greenleaf Kitchen & Cocktails, on the lobby level of the hotel, offering fan favorites as well as new items catering to transient guests, with plenty of items for dine-in or take-away including the Antioxidant Salad, Spicy Avocado Vegan Burger, and Roasted Spaghetti Squash, as well as craft cocktails and indoor / outdoor seating.

ShoresLAX is open daily from 4pm – 12am (with dining service available 5 -10pm) with weekend brunch coming soon; Greenleaf Kitchen & Cocktails is open daily from 6:30am – 3pm with the bar and lobby lounge open daily from 9am – 9pm. Reservations can be made by calling (310) 258-9000.

MEET

Hyatt Place LAX / Century Blvd and Hyatt House LAX / Century Blvd offer more than 3,100 square feet of flexible indoor and outdoor meeting space, which can be configured to accommodate a variety of events ranging from intimate meetings and weddings to larger cocktail parties and networking events for up to 180 guests. The properties’ two traditional meeting rooms, Malibu and Melrose, offer the latest in audiovisual technology and bring the Southern California vibe into each space with a coastal color palate that incorporates shades of cream, blue, and brown.

In addition, both ShoresLAX and Greenleaf Kitchen & Cocktails are available for private events and buyouts. ShoresLAX is a picturesque setting for sunset cocktail receptions, elevated post-meeting dinner service, or an intimate private event with a capacity of up to 100 people and Greenleaf Kitchen & Cocktails offers 2,000 square feet of glass-lined indoor / outdoor space for semi-private, casual receptions up to 150 attendees.

PLAY

With a location adjacent to LAX, minutes from the new Sofi Stadium and The Forum arena, and a short drive to Santa Monica and Manhattan Beach, Hollywood and more top Los Angeles attractions, the properties serve as a dining destination and hangout for locals and a prime headquarters for the 85 million annual travelers that pass through LAX.

The hotels feature the tallest rooftop terrace and only outdoor rooftop pool in the airport district, with chic cabanas, lounge chairs and prime views of planes arriving and departing. In addition, the property is home to an 1,880 square foot state-of-the-art fitness center with multiple Peloton bikes, treadmills, Life Fitness Arc Trainers, and more for a full body workout any time of day.

To celebrate the opening, Hyatt Place LAX / Century Blvd is offering the “Rooftop Dining” package which includes a $100 Food & Beverage credit that guests can use at ShoresLAX or Greenleaf Kitchen & Cocktails, and Hyatt House LAX / Century Blvd is offering the “Sip & Savor” package inclusive of a $100 Food & Beverage credit. Rates start at $179 per night for both Hyatt Place LAX / Century Blvd and Hyatt House LAX / Century Blvd.

For more information or to reserve a stay, visit www.HyattsOfLAX.com or call (310) 258-9000.

Guided by its purpose of care, Hyatt’s multi-layered Global Care & Cleanliness Commitment further enhances its operational guidance and resources around colleague and guest safety and peace of mind. More information on Hyatt’s commitment can be found here: hyatt.com/care-and-cleanliness.

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

For further information:ABOUT HYATT PLACE

Hyatt Place hotels combine style, innovation and 24/7 conveniences to create an easy to navigate experience for today’s multi-tasking traveler. Guests can enjoy thoughtfully designed guestrooms featuring distinct zones for sleep, work and play, and free flowing social spaces that offer seamless transitions from work to relaxation. With more than 395 locations globally, Hyatt Place hotels offer freshly prepared food around the clock, efficient service and differentiated experiences for World of Hyatt members. For more information, please visit hyattplace.com. Join the conversation on Facebook and Instagram, and tag photos with #HyattPlace and #WhySettle.

ABOUT HYATT HOUSE

Hyatt House hotels are designed to welcome guests, including World of Hyatt members, as extended stay residents seeking the conveniences of home. Modern, apartment-style suites with fully equipped kitchens and separate living and sleeping areas provide guests a stylish and comfortable environment so they can better maintain their work and personal routines while traveling. At more than 120 locations, the Hyatt House brand delivers home-like amenities, neighborly service and upscale spaces, including free hot breakfast for guests with made to order omelets; H Bar with a Sip + Snack menu; and indoor and outdoor communal spaces for productivity or relaxation. For more information, please visit hyatthouse.com. Join the conversation on Facebook or Instagram and tag photos with #HyattHouse and #WhySettle.

ABOUT PRISM HOTELS & RESORTS

Founded in 1983, Prism Hotels & Resorts operates and invests in hotels ranging from luxury to premium-branded, focused-service segments, and is approved by all the major brand groups. Historically, about half the company’s portfolio is conventional, long-term contracts with the remainder distressed properties for lenders who have taken back hotel real estate. Prism has a proven track record throughout North America and the Caribbean and currently operates 52 hotels and resorts franchised by such major brand families as Marriott, Hilton, Starwood, IHG and Hyatt, as well as independents.

ABOUT HYATT HOTELS CORPORATION

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of September 30, 2021, Hyatt’s portfolio included more than 1,000 hotel and all-inclusive properties in 69 countries across six continents, and the acquisition of Apple Leisure Group added 96 properties in 10 countries as of November 1, 2021. Hyatt’s offerings include the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination by Hyatt™, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, JdV by Hyatt™, Hyatt House®, Hyatt Place®, UrCove, and Hyatt Residence Club® brands, as well as resort and hotel brands under the AMR™ Collection, including Secrets® Resorts & Spas, Dreams® Resorts & Spas, Breathless® Resorts & Spas, Zoëtry® Wellness & Spa Resorts, Alua® Hotels & Resorts, and Sunscape® Resorts & Spas. Hyatt’s subsidiaries operate the World of Hyatt® loyalty program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC destination management services, and the Trisept Solutions® travel technology platform. For more information, please visit www.hyatt.com.

MEDIA CONTACT
bread & Butter
hyattLAX@wearebreadandbutter.com

Robert Martinez
Hyatt
robert.martinez1@hyatt.com

401-room combined Hyatt Place and Hyatt House hotels expected to open in 2020

LOS ANGELES (May 8, 2018) – CaRE Development / 5959 LLC today announce that it has entered into a franchise agreement with a Hyatt affiliate for a dual-branded Hyatt Place and Hyatt House hotel in Los Angeles, directly adjacent to Los Angeles International Airport (LAX). The development of Hyatt Place LAX and Hyatt House LAX, the first dual-branded Hyatt Place and Hyatt House hotels in LA, are expected to open in 2020 and further reinforce the growing demand for upscale lodging in the expanding LAX market.

The Hyatt Place and Hyatt House brands are rooted in extensive consumer research indicating that guests seek stylish, comfortable, seamless experiences that accommodate their lifestyles and familiar routines. To embody this, the two brands offer casual hospitality and purposeful service in a smartly designed, high-tech and contemporary environment.

“We are excited to introduce the first combined Hyatt Place and Hyatt House hotels to the LA area,” said Chief Executive Officer Steve Shpilsky, CaRE Development. “Guests will be able to appreciate the contemporary design and spacious layout of the guestrooms – from the separate spaces to sleep and work, including the Cozy Corner at Hyatt Place hotels, to the apartment-style suites with real kitchens at Hyatt House hotels – our guests will be able to choose the space that fits their needs.”

Hyatt Place LAX and House Hotel LAX will embrace LA’s historical mid-century architecture and design with a contemporary twist. The 272-room Hyatt Place LAX will bring the brand’s intuitive design, casual atmosphere, spacious guestrooms with distinct sleeping and living areas, and practical amenities, such as free Wi-Fi and 24-hour food offerings, to guests looking for a relaxing and uncomplicated place to pause before beginning the next leg of their journey. The 129-room Hyatt House LAX will offer apartment-style suites with fully equipped kitchens, providing guests with the spaces and places that make them feel more at home. Together, the two hotels will offer an array of shared services and amenities that meet the needs of transient and extended-stay guests, which will be highlighted by a rooftop pool, restaurant and bar with unprecedented views of LAX runways, downtown Los Angeles, the Hollywood Sign, Beverly Hills, Santa Monica, and Manhattan Beach.

Located steps away from LAX at 5959 West Century Blvd. and less than two miles away from the new City of Champions Stadium, Hyatt Place LAX and Hyatt House LAX will serve the annual 85 million business and leisure travelers that pass through the second busiest airport in the United States. LAX is undergoing a $14 billion renovation, which will include a new automated people mover to the airport, which will be steps from Hyatt Place LAX and Hyatt House LAX.

“Hyatt Place LAX and Hyatt House LAX are great examples of our continued focus on growing premium hotels that will attract business and leisure travelers alike,” said Julienne Smith, senior vice president of development and owner relations, Hyatt Place and Hyatt House. “We’re thrilled to team up with Steve and the entire CaRE Development team on this dual-branded hotel – together, our collaboration speaks volumes about the strength of LA’s economy and the appeal and convenience of two hotels that will meet the needs of guests visiting LA or passing through LAX.”

“LAX and LA continue to exhibit strong hospitality demand fundamentals. Between the $14 billion LAX renovation, new public transportation, Silicon Beach, large research universities, the 2028 Summer Olympic Games, a new NFL stadium that will be home to the LA Rams and LA Chargers, and some of the best weather in the world, we can’t wait to open our doors for all to enjoy,” continued Shpilsky.

For more information, please visit hyatt.com/whysettle.

http://newsroom.hyatt.com/050818-Dual-Branded-Hyatt-Place-and-Hyatt-House-Hotels-to-Bring-Upscale-Lodging-to-Los-Angeles-International-Airport

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

LOS ANGELES, Calif. (November 15, 2017) – Commercial real estate investment banking firm George Smith Partners arranged $50 million in construction financing for the redevelopment of a 258,000 square-foot, 13-story office tower. The property will be converted into a 129-key Hyatt House and a 272-key Hyatt Place Hotel adjacent to LAX. The senior construction financing, on behalf of 5959 LLC, an affiliate of California Real Estate Regional Center, LLC (“CaRE”), was arranged by George Smith Partners’ Vice President Zachary Streit.

“There is growing demand in the LAX submarket, and the current hotel stock is largely outdated,” explained Streit. “As a result, this new dual-branded offering, which will feature a trendy, mid-century urban design, will be of immediate interest to business and leisure travelers.”

The property is located on West Century Boulevard, one block away from LAX – the seventh busiest airport in the world.

Streit notes that the timing is right for this redevelopment, citing a 2016 report from STR Global showing a 91.5% hotel occupancy rate and a 12.7% year-over-year increase in average daily rate.

“Even with demand high and supply low, identifying the right lender was challenging based on several factors,” says Streit. “It was crucial to find a lender who was comfortable with hotel construction financing at this point in the cycle, as well as amezzanine tranche of EB-5 financing, and an unsubordinated ground lease. Additionally, it was critical that the transaction was structured to comply with High Volatility Commercial Real Estate (HVCRE) banking regulations.”

According to Streit, George Smith Partners was able to source a lender with both extensive experience in ground-up hospitality transactions, and a deep understanding of the supply-constrained LAX submarket.

“George Smith Partners was able to close the financing by demonstrating the sponsor’s attractive basis in the property, the submarket’s strong fundamentals, and the
project’s incredible location,” Streit adds. “Our team also assisted in structuring the transaction to ensure HVCRE compliance.”

Sized to 50 percent of total project cost, the non-recourse, interest-only loan will float at a spread of 425 basis points over one-month LIBOR and carries two one-year extension options.

Planned for completion in 2019, the redeveloped Hyatt House and Hyatt Place Hotel will feature a mid-century inspired urban design, rooms with 11.5-foot ceiling heights, and a host of amenities including a rooftop bar, pool, and restaurant with unobstructed views spanning from Downtown Los Angeles to the Pacific Ocean, a variety of dining options and a state-of-the-art 24/7 fitness center.

“The dual-branded Hyatt Hotel is located in one of the strongest hotel markets in Los Angeles thanks to its proximity to LAX and central location to all major LA attractions. The city’s $14 billion LAX modernization, along with new public transportation, the under-construction $2.7 billion NFL Stadium, 2028 Olympics, proximity to Silicon Beach, and emergence as one of the great global cities will continue to stimulate market demand for years to come,” according to Steve Shpilsky, Principal of 5959 LLC and Co-Founder of CaRE. “The project successfully combines EB-5 mezzanine financing with developer equity and senior financing to complete the hotel, creating over 1,000 new jobs in Southern California.”

The property is located at 5959 West Century Boulevard in Los Angeles, California.

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About California Real Estate Regional Center LLC (CaRE) & 5959 LLC

Founded in 2011, CaRE has financed and developed approximately $750 million of hotel developments in US gateway cities, including EB-5 financing of the Waldorf Astoria Beverly Hills Hotel. CaRE finances and develops commercial real estate opportunities combining traditional equity and debt with EB-5 financing. To date, CaRE has closed over $230 million in EB-5 capital from over 450 investors. Additional information about CaRE is available at www.EB5socal.com.

The principals of 5959 LLC have financed and developed hotel projects totaling over $2 billion across the country and have a combined 50 years of experience in finance, accounting, and real estate.

 

About George Smith Partners

Founded in 1992, George Smith Partners is a leading national real estate investment banking firm that specializes in arranging financing for commercial and multifamily properties, including acquisition, construction, bridge and permanent loans, as well as mezzanine loans, highly leveraged participating loans and joint venture equity. The company has arranged more than $44 billion in financing since its inception. Additional information about George Smith Partners is available at www.GSPartners.com.

Over 1,100 people attended with over 100,000 live streaming in what was one of the largest events of its kind.

Shanghai, CN, Aug. 16, 2016 – California Real Estate Regional Center (“CaRE”) hosted Arnold Schwarzenegger, blockbuster Hollywood actor and former Governor of California, as the keynote speaker in Shanghai on August 16, 2016. Arnold, an investor in the Waldorf Astoria Beverly Hills, discussed how America gave him the opportunity to achieve all his dreams of becoming a successful actor, politician, businessman, and philanthropist. Over 100,000 people live streamed the event. VIP guests had the opportunity to meet Mr. Schwarzenegger and have their photo taken with him.

“As an immigrant himself, Arnold Schwarzenegger epitomizes the American and California dream. We are thrilled with the event, one of the largest of its kind in EB-5 history.” – Steve Shpilsky, CEO of CaRE.

Arnold talked about his love for China, the Waldorf Astoria Beverly Hills, and how he realized the “American Dream”

Over 1,100 people in attendance to learn about the Waldorf Astoria Beverly Hills EB-5 project and see Arnold

Pictured from left to right: Frank Xu (AIIC), David Levinson (AIIC), Steve Shpilsky (CaRE), Nima Korpivaara (David Hirson & Partners), Michael Hines (Banc of California), Kevin Wright (Wright Johnson)

Steve Shpilsky, CaRE CEO, with Arnold Schwarzenegger