Thompson Hotels Brand to Launch in Palm Springs, California

Slated for late 2023, the 168-room Thompson Palm Springs will celebrate the spirit of the famed California destination

Hyatt Hotels Corporation (NYSE: H) announced today plans for the 168-room Thompson Palm Springs, which will join the award-winning luxury lifestyle Thompson Hotels portfolio and mark the second Thompson Hotels property in California. Thompson Palm Springs is expected to open in late 2023 and will offer panoramic views of the San Jacinto Mountains and the city of Palm Springs. The development signals Hyatt’s commitment to growing its luxury lifestyle portfolio in key growth markets that matter to guests and World of Hyatt members.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230522005385/en/

Thompson Palm Springs Exterior Rendering (Photo: Business Wire)

Developed by Dallas-based Hall Group and designed by interior design firm B2 Architecture + Design and architect SMS Architecture, Thompson Palm Springs will feature modern, groundbreaking design in the heart of the city. Unique guestroom bungalows will be surrounded by two outdoor pools, gardens, lounge areas and winding walking paths, immersing visitors in the natural landscape of Palm Springs. Guests can expect additional amenities including a signature restaurant helmed by a world-class chef, sought-after indoor and outdoor bar and lounges, a well-appointed spa and fitness concept, and approximately 8,000 square feet of flexible meeting and event space. Thompson Palm Springs will also offer over 20,000 square feet of ground-level retail and restaurant space along Downtown’s iconic Palm Canyon Drive which will include HALL Napa Valley, a 3,400 square foot tasting room from owners Craig & Kathryn Hall showcasing selections from their family of wines: HALL, WALT and BACA. The hotel’s idyllic location will provide guests with access to the community’s thriving arts and culture scene including museums, art galleries, boutiques and bars and restaurants.

Thompson Palm Springs will be led by general manager Jeffrey Miller, who will oversee all operations and commercial strategies for the hotel. A Palm Springs local who has been enjoying the destination for decades, Miller joins the hotel from Andaz Scottsdale Resort & Bungalows where he served as general manager for three years. “We are excited to welcome guests and locals to Thompson Palm Springs, which will bring-to-life the iconic spirit of the destination through striking design, innovative culinary offerings and locally inspired guest experiences,” said Miller. “Palm Springs has always been a diverse destination where local culture is celebrated, and Thompson Palm Springs will embody this energy by serving as a dynamic home-base for guests, local tastemakers and emerging creatives to connect with each other and what inspires them. We truly desire to be a local’s destination.”

“With design, art and entertainment at the heart of the Thompson Hotels brand experience, downtown Palm Springs is the ideal location for one of the brand’s newest hotels,” said Kimo Bertram, vice president of real estate and development, Hyatt. “Thompson Palm Springs will add to the growing number of properties within our Thompson Hotels brand portfolio throughout California and globally. We look forward to collaborating with Hall Group to introduce this new lifestyle hotel to the market, that will epitomize the world-renowned sophistication and unique culture of Palm Springs.”

Thompson Palm Springs will build on Hyatt’s intentional growth strategy in key leisure markets, joining 18 Thompson Hotels properties worldwide, with four additional properties expected to open by the end of 2024 in destinations like Houston, South Beach Miami, and Monterrey, Mexico, as well as the brand’s entry into Asia Pacific in Shanghai.

To learn more about the Thompson Hotels brand, please visit www.thompsonhotels.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.

About HALL Group

HALL Group is a Dallas-based, multibillion-dollar, private company made up of a diverse group of subsidiaries spanning real estate, finance, winemaking, and venture capital. Founded in 1968, the company focuses on four key areas: development and ownership of office, multifamily and hospitality real estate assets including HALL Park, a 162-acre, mixed-use development in Frisco, Texas with a masterplan underway that, when complete, will include 10 million square feet of commercial assets; HALL Structured Finance, a national commercial real estate construction and bridge loan lender, primarily in the hotel and multifamily sectors; HALL Family Wines, a producer of high-quality California wines that includes the HALL, WALT and BACA brands; and angel- and seed-round funding for select venture capital investments. HALL Group also owns the HALL Collection, an immense compilation of local and international artwork on display throughout the company’s properties. For more information, visit hallgroup.com.

About Thompson Hotels

Thompson Hotels have transformed conventional hospitality into dynamic cultural moments inspired by the surrounding streets since the brand’s first hotel opened in downtown NYC more than 20 years ago. Today, the brand continues to channel local creative energy into its expanding international portfolio of properties, with restaurants helmed by top culinary names, lobbies that double as cultural epicenters, boundary-pushing music programs, and more. The result is a magnetic hub built for collective gathering, where distinct design is an ethos and a signature part of the guest experience. Each hotel serves as an inspiring home base for guests and creatives alike to connect with each other and what moves culture forward. The Thompson Hotels portfolio of luxury lifestyle hotels currently includes The Beekman, Gild Hall and Thompson Central Park New York in New York City; Thompson Washington D.C.; Thompson Nashville; Thompson Seattle; Thompson Chicago; The Cape in Los Cabos, Mexico; Thompson Playa del Carmen on Mexico’s Riviera Maya; Thompson Zihuatanejo on Mexico’s Pacific Coast; Thompson Dallas, Thompson San Antonio, and Thompson Austin in Texas; Thompson Savannah; Thompson Hollywood; Thompson Buckhead; Thompson Denver; and Thompson Madrid in Spain. Follow @ThompsonHotels on Facebook, Twitter, and Instagram for news and updates. For more information, please visit www.thompsonhotels.com.

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 March 31, 2023, the Company’s portfolio included more than 1,250 hotels and all-inclusive properties in 75 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Residence Club®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt®; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt®; and the Inclusive Collection, including Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.

Forward-Looking Statements

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about our plans, strategies, outlook, occupancy, the amount by which the Company intends to reduce its real estate asset base, the expected amount of gross proceeds from the sale of such assets, and the anticipated timeframe for such asset dispositions, the number of properties we expect to open in the future, booking trends, RevPAR trends, our expected Adjusted SG&A expense, our expected capital expenditures, our expected net rooms growth, our expected system-wide RevPAR, our expected one-time integration costs, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and the pace of economic recovery following economic downturns; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group segments, as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geo-political conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters, weather and climate-related events, such as earthquakes, tsunamis, tornadoes, hurricanes, droughts, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; the pace and consistency of recovery following the COVID-19 pandemic and the long-term effects of the pandemic, additional resurgence, or COVID-19 variants, including with respect to global and regional economic activity, travel limitations or bans, the demand for travel, transient and group business, and levels of consumer confidence; the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants or other pandemics, epidemics or other health crises; our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party property owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations, including with respect to our acquisition of Apple Leisure Group and Dream Hotel Group and the successful integration of each business; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; declines in the value of our real estate assets; unforeseen terminations of our management or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates, wages, and other operating costs; foreign exchange rate fluctuations or currency restructurings; risks associated with the introduction of new brand concepts, including lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, including as a result of the COVID-19 pandemic, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and Unlimited Vacation Club paid membership program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; violations of regulations or laws related to our franchising business and licensing businesses and our international operations; and other risks discussed in the Company's filings with the SEC, including our annual report on Form 10-K, which filings are available from the SEC. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We do not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230522005385/en/