New Plans Announced for Puerto Rico's New Hyatt Place

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Hyatt recently announced plans to have Hyatt Place Manatí open in early 2014, representing the company's second Hyatt-branded select service hotel in Puerto Rico. The new hotel, currently under construction, will join Hyatt Place Bayamón Hotel & El Tropical Casino when it opens.

Hyatt Place Manatí will have 104 guest rooms in a five-story building, with an adjoining 11,500 square foot casino, and a free-standing casual dining restaurant.

According to Hyatt Hotels Corporation, a Hyatt affiliate entered into the latest Hyatt Place hotel agreement with Island Hospitality Partners, LLC, a joint venture of PRISA Group and McConnell Valdes Consulting.  Island Hospitality is also the owner of Hyatt Place Bayamón Hotel & El Tropical Casino, which is currently under construction and is expected to open in 2014.

"We are glad to work with Island Hospitality on a second Hyatt Place hotel project in Puerto Rico," said Pat McCudden, senior vice president, real estate and development Hyatt Hotels & Resorts. "We believe that the Hyatt Place brand and the location of the hotel in Manatí will have strong appeal to business and leisure travelers visiting the region."

The municipality of Manatí, located less than 40 miles west of San Juan, is headquarters to a host of multinational corporations and pharmaceutical companies, as well as the Manatí Medical Center and Doctors' Center Manatí, two of Puerto Rico's most prestigious hospitals.

"We believe in the Hyatt Place brand and think the hotels will have strong appeal in both Bayamon and Manatí," said Federico Stubbe, Jr., president of PRISA Group. "Hyatt Place Manatí & Casino and Hyatt Place Bayamón & El Tropical Casino will bring Hyatt's world-class hospitality to Puerto Rico."

Currently, there are more than 165 Hyatt Place hotels in operation in the United States, with more than 35 Hyatt Place hotels under development throughout the U.S., Europe, the Caribbean, China, Latin America, Southwest Asia, and the Middle East. The first two Hyatt Place hotels outside the United States are expected to open later this fall: Hyatt Place San Jose Pinares in San Jose, Costa Rica and Hyatt Place Hampi in Hampi, India.

Island Hospitality Partners is a joint venture of PRISA Group and McConnell Valdes Consulting.  PRISA and McVC have combined their expertise and resources in the planning, development, construction and operation of hospitality, residential and mixed used projects to form Island Hospitality Partners, LLC, creating a strong team capable of executing all necessary tasks for the successful development projects from conception to operation.

PRISA Group is a family-owned developer and builder of green residential communities and resort hospitality projects in Puerto Rico and Florida with over 6,000 units in planning and construction, representing a value of over $3 billion.  The firm has delivered over 3,000 units in the last 20 years and is currently developing projects in Dorado, Vega Alta, Gurabo, San Lorenzo, and Humacao, Puerto Rico, as well as in Tampa, Fla.