Upper-midscale Hyatt Studios comes to market with letters of
interest for more than 100 properties.
CHICAGO -- Hotels Corp. on Tuesday announced plans to develop a
new construction, upper-midscale extended-stay brand in the Americas called Hyatt
Studios.
Hyatt comes to market with letters of interest in
development agreements from multiple developers for more than 100 Hyatt Studios
hotels. Construction is expected to begin in 2023 and the first hotel expected
to open in 2024.
Hyatt Studios exterior rendering
Hyatt said with the help of the development community to
create the brand, the focus will be on scalable construction options and an
efficient operating model designed to adapt to local market needs across
primary, secondary and tertiary markets alike.
“With signed letters of interest for more than
100 Hyatt Studios hotels already in place, we believe the Hyatt Studios brand
will help pave the way for us to build on our industry-leading net rooms
growth,” said Jim Chu, Hyatt’s EVP of Global Development and Franchises. “We’ve received tremendous support to date for this brand, and we’re
excited to continue conversations that will help Hyatt add hotels in new
markets.”
When asked about development costs and projected ADR for the
brand, Hyatt declined to comment.
The brand is being designed to accommodate both
extended-stay and shorter length-of-stay guests.
Guestrooms will offer suites with kitchen amenities, while
the food and beverage experience will include a complimentary grab-and-go
breakfast and a 24-hour market.
Hyatt Studios will be led by industry veteran Dan Hansen,
who has served as strategic advisor throughout the brand’s conception.