TORONTO, Dec. 7 /CNW/ - Affiliates of Global Hyatt Corporation have
signed an agreement to manage Hyatt Regency Toronto Airport hotel being
developed by New York-based Merchant Equity Group. Scheduled to open in the
summer of 2010, the 12-story hotel will be part of a 15-acre, mixed-use
complex with 500-rooms and overlooking the fairways of the championship Royal
Woodbine Golf Course. Award-winning, Toronto-based Zeidler Partnership
Architects, whose work includes Toronto's National Trade Center and Eaton
Centre, will design the hotel.
Hyatt Regency Toronto Airport hotel will be an environmentally
sustainable project, designed to LEED silver standards. It will be energy
efficient using state-of-the-art occupancy sensors to automatically turn off
lights and guestroom televisions, and will feature green roofs and recycled
The $300 million hotel complex will include office, retail space and
convention facilities. The Hyatt Regency will replace the Regal Constellation
Hotel which closed over four years ago. Construction of the new property will
start in 2008.
"We are thrilled to enhance Hyatt's visibility in Toronto, and this new
property will complement our luxury Park Hyatt Toronto downtown," said Chuck
Floyd, Chief Operating Officer, Global Hyatt Corporation. "The new
eco-friendly hotel will be a distinctive addition to the Toronto airport area,
creating jobs and boosting the local economy. We look forward to welcoming
additional visitors from around the world to Toronto."
"Construction of the Hyatt Regency Toronto Airport hotel will create as
many as 500 construction jobs and approximately 500 permanent jobs when it
opens in 2010," said Jeff Gwin, Managing Partner of Merchant Equity Group.
"The new hotel will revitalize the airport strip, generating millions of
dollars in property taxes for the City of Toronto."
The Hyatt Regency Toronto Airport hotel will complement Toronto's Pearson
International Airport which has undergone a $4.4 billion redevelopment as the
fourth largest international airport in North America.
Global Hyatt Corporation
Global Hyatt Corporation, one of the world's premier hotel companies,
offers today's travelers over 735 hotels and resorts (over 136,000 rooms) in
more than 55 countries. The company's affiliates own, operate, manage and
franchise Hyatt branded hotels and resorts under the Park Hyatt(TM), Grand
Hyatt(TM), Hyatt Regency(TM), Hyatt Resorts(TM), Hyatt(TM), Hyatt Place(TM)
and Hyatt Summerfield Suites(TM) brands. In April 2007, Hyatt launched its
newest global brand, Andaz(TM). Global Hyatt Corporation is also the owner of
Hyatt Vacation Ownership, Inc. operator of the Hyatt Vacation Club and
fractional residential properties and U.S. Franchise Systems, Inc, which
franchises Hawthorn Suites and Microtel Inns and Suites. From the U.S. and
Canada, reservations for any Hyatt hotel worldwide may be obtained by calling
1-800-233-1234 or logging onto www.hyatt.com.
Merchant Equity Group
The Merchant Equity Group is a private equity investment and asset
management company with interests in a diverse portfolio of commercial real
estate, including major urban office buildings, shopping centres and
For further information:
For further information: FOR HYATT: Amy Patti, PR Manager, (312)
780-5620, firstname.lastname@example.org; FOR MERCHANT EQUITY GROUP: Danna
O'Brien, Sussex Strategy Group, (416) 961-6611, ext. 102,