Wednesday, June 22, 2016

Hyatt Hotels Affiliate Acquires Royal Palms Resort and Spa

Hyatt Hotels Corporation (NYSE: H) today announced that a wholly owned subsidiary has entered into an agreement to purchase the 119-room Royal Palms Resort and Spa. The transaction is expected to close in July 2016. The hotel will continue to be operated as the Royal Palms Resort and Spa and will become affiliated with The Unbound Collection by Hyatt, offering a rich history and sense of place that fits the brand’s promise of creating story-worthy and shareable experiences for guests.


“The acquisition of the Royal Palms Resort and Spa shows our commitment to growing this brand, as well as our commitment to guests as we aim to create an increased presence in markets where we know they are traveling,” said Steve Haggerty, global head, real estate and capital strategy for Hyatt. “The Royal Palms Resort and Spa is an ideal fit for The Unbound Collection by Hyatt given the hotel’s prominent positioning in the market and its ability to create experiences for our guests. We look forward to continuing to grow this brand globally in a strategic and meaningful way.”

 The Royal Palms Resort and Spa borders Scottsdale and Paradise Valley in Arizona. It was opened in 1929 as the home of wealthy New York financier, Delos Willard Cooke. Known as “El Vernadero” or the family’s winter haven, the property drew immediate attention and became a beloved local landmark known for its Mediterranean, Spanish colonial architecture and luxurious landscaped grounds, using the famous Camelback Mountain as a design focal point. The Royal Palms Resort and Spa offers 119 oversized guestrooms, suites, casitas and villas, as well as more than 21,000 square feet of estate-like indoor and outdoor meeting space.

Its world-class amenities include the award-winning Alvadora Spa and the highly acclaimed T.Cook’s restaurant, which features seasonal menus in an elegant and intimate setting. The Alvadora Spa is designed with tranquil stone interiors, and the outdoor treatment areas are set within lush, private courtyards.

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