Day: January 20, 2023

ASICS Study Shows Exercise Has the Power to Sharpen Even the Brightest Minds and Improve Mental Performance

In a ground-breaking global study, inactive gamers who increased exercise levels saw their cognitive function, wellbeing and gaming performance dramatically improve.

Could exercise be the key to boosting brain power?

LONDON–(BUSINESS WIRE)– Today, ASICS reveals exercise can significantly improve cognitive function and advance mental performance. From boosting short-term memory to increasing concentration levels, exercise enhances brain power and could be the solution to helping us pass exams or excel at work.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230119005693/en/

Memory sport competitor, Ben Pridmore took part in the ASICS Mind Games study (Photo: Business Wire)

In a unique experiment, ASICS invited competitive gamers from around the world, specialising in mind games such as Chess and Esports and who rely on their cognitive function, to start an exercise programme. After four months of regular exercise, their minds were significantly sharpened and they performed at an even higher competitive level.

Participants’ international gaming rankings improved by an incredible 75% proving, yet again, the close interplay between our mind and body. The mind gamers’ cognitive function was boosted on average by 10%, with problem solving abilities improving by 9%, short-term memory increasing by 12% and processing speed and alertness improving by 10%. Group confidence levels increased by 44%, concentration improved by 33% and anxiety levels plummeted by 43%. The research shows exercise can be as effective at boosting brain function as learning a second language, daily reading, playing a new musical instrument or completing a puzzle every day.i

Professor Brendon Stubbs, a renowned researcher in movement and the mind, developed and led the experiment. Each gamer followed a training programme designed by runner turned international coach, Andrew Kastor. The programme included medium impact cardio and strength training and increased the gamers exercise levels to 150 minutes a week. Professor Stubbs measured the mental improvement of the participants based on their performance in their mind games, cognitive tests and wellbeing questionnaires over the course of their four-month research period.

Commenting on the results, Professor Brendon Stubbs said: “We all know that exercise is good for our mental and physical health but the impact on cognitive functioning has been less explored. We wanted to examine the effects of exercise on people who depend on their cognitive abilities – competitive mind gamers. Our results show significant improvements in their cognitive functioning, including concentration levels and problem-solving abilities.

“Exercise stimulates cell growth in the brain and rapidly increases blood flow to the hippocampus and prefrontal cortex, mechanisms that enable us to better retain memories, process information and problem solve quickly. If exercise can significantly increase the mental performance of professional mind gamers, imagine what it could do for the rest of us. From increasing focus when revising for an exam or improving alertness before a work presentation, exercise truly can enhance brain power.”

As well as showing that exercise improved the participants cognitive function and gaming capabilities, Professor Stubbs also found that the gamers’ mental wellbeing was significantly uplifted, with average State of Mind scores improving by 31%.ii The gamers’ average state of mind score at the start of the study was a below average 58 and at the end it was a high 76iii, demonstrating the significant impact exercise can also have on your mental wellbeing.

The study’s Head Coach, Andrew Kastor, who developed the gamers’ training programmes, stated: “These results are astonishing and speak to the power of exercise. Many of the gamers couldn’t jog for longer than a minute at the start of the study, so their training programmes had to be moderate. 150 minutes a week sounds a lot but when you break it down this could be 5 sets of 30 minutes. No matter your fitness levels, the mental benefits of exercise are accessible to all.”

Inspired by the experiment, a camera crew followed four competitive gamers as they took on regular exercise to improve their rankings on the international stage. The result was a new ground-breaking documentary ‘Mind Games – The Experiment’, narrated by the internationally acclaimed actor, and mental health campaigner, Stephen Fry. Now available to stream on Prime Video, the feature length film documents the journeys of four gamers – Kassa Korley, Ryoei Hirano, Ben Pridmore and Sherry Nhan – who specialise in Chess, Mahjong, Memory and Esports as they compete in professional tournaments around the world. Watch the documentary trailer here.

Gary Raucher, EVP, ASICS EMEA said: “Our founding philosophy is literally in our name, Anima Sana In Corpore Sano or a Sound Mind in a Sound Body. We have always encouraged utilising exercise for both physical and mental benefits, but this is the first time we have explored the true impact on cognitive functioning. Mind Games – The Experiment shows the power of exercise to sharpen the mind and we hope that after watching the documentary, everyone (regardless of their age, body type or fitness level) is inspired to move to help boost their brain.”

Mind Games – The Experiment is available to stream on Prime Video from 19th January 2023.

ENDS

Notes to Editors

The ASICS study ran from May – September 2022, with 77 gamers from 20 countries completing the experiment. All passed health screening questionnaires and completed consent forms before taking part.

For further information, images or to organise an interview with Professor Brendon Stubbs, Head Coach Andrew Kastor, or one of the gamers featured in the documentary, please contact Rory Cramsie at ASICSMindGames@golin.com

i Comparisons drawn from: https://journals.sagepub.com/doi/full/10.1177/09567976221092726 and https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6174231/ and https://www.frontiersin.org/articles/10.3389/fnagi.2021.706672/full#:~:text=Bilingualism%20has%20been%20linked%20to,cognitive%20enhancement%20in%20older%20adults

ii ASICS proprietary State of Mind score is a rating out of 100 made up of 10 emotional and cognitive metrics, including: composure, resilience, positivity, contentment, relaxation, confidence, alertness, calmness, focus and energy.

iii After four months the groups state of mind score increased into the top 10% globally.

Anima Sana In Corpore Sano, meaning “A Sound Mind in a Sound Body,” is an old Latin phrase from which ASICS is derived and the fundamental platform on which the brand still stands. The company was founded in 1949 by Kihachiro Onitsuka and is now a leading designer, developer and manufacturer of running shoes, as well as various sports footwear, apparel and accessories. For more information, visit www.asics.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005693/en/

Contacts

Rory Cramsie

ASICSMindGames@golin.com

Source: ASICS

Multimedia

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Memory sport competitor, Ben Pridmore took part in the ASICS Mind Games study (Photo: Business Wire)

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Competitive Mahjong player, Ryoei Hirano took part in the ASICS Mind Games global study (Photo: Business Wire)

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Esports competitor, Sherry Nhan took part in the ASICS Mind Games global study (Photo: Business Wire)

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Competitive chess player, Kassa Korley took part in the ASICS Mind Games study (Photo: Business Wire)

This material is not a CNA editorial material and CNA shall not bear responsibility for the accuracy of its content. In case you have any questions about the content, kindly refer to the contact person mentioned in the text of the press release.

Source: Cyprus News Agency

President of the Republic Nicos Anastasiades has said that soon he will hand over the government being satisfied with the fact that the policies adopted by the government and the projects implemented with close cooperation with the local administrations, have strengthened the economic, social, rural, cultural and tourism development prospects of towns, municipalities and communities in mountainous and outermost regions.

The President, who made a tour in the Pafos district where he inaugurated a series of projects in many communities, made the above statements during a visit to the municipality of Polis Chrysochous, where he inaugurated the Multifunctional Centre for the Elderly “Eleousa tou Kykkou”, the pedestrian/bicycle road from Polis Chrysochous to Latsi, the project for the construction of ten breakwaters in the sea area of the Chrysochou Bay and the Phase B of the Coastal Promenade (“Thalassa” Multifunctional Park).

In his speech in Polis Chrysochous, the President of the Republic said that the government’s development projects have been extended throughout the whole area of Chrysochou, with the completion or launch of 20 projects in the communities at a cost of 17 million euros.

He added that 141 projects with a total cost of more than 339 million euros have been completed or are in the process of being implemented in the municipalities and communities of the Pafos district.

President Anastasiades stated that Polis Chrysochous, through the important projects of substantial upgrading of the infrastructure and the services provided, has become a modern and functional Municipality for the benefit of its residents and visitors.

He pointed out that the prospects for even greater economic, cultural and social development have been created for the benefit of the residents, noting that the construction of the new Paphos – Polis Chrysochous highway also falls into this context.

The President said that the highway is one of the biggest development projects of the last decades.

He added that the first phase of the highway has a total budget of 83 million euro and said that the road will not only facilitate accessibility, it will offer new perspectives, upgrade the lives of the residents, while the Municipality can become an attractive place of permanent living and activity for new families, young investors and entrepreneurs, but also a dynamic tourism development.

The President also referred to another important project, the expansion of the port of Latsi, at a cost of more than 45 million euro, with the creation of 350 new berths and anchorages, even for cruise ships. He noted that the tender is in progress, and expressed hope that the project will become a reality as soon as possible.

Mayor of Polis Chrysochous Yiotis Papachristofis described the day as a milestone for the Municipality and also announced that in 2023, the implementation of another four major development projects will begin, which are co-financed by European Programs and national resources of a cost of five million euro which include ia the creation of sidewalks, the beautification of facades, the construction of squares as well as the traffic management of streets.

Later on, the President inaugurated the Cultural Centre of Pegeia, in Pafos. In his speech, President Anastasiades pledged that the reform of local administration will provide more opportunities while conditions will be created to address problems and promote overall development in the area.

He praised the local government for their determination to upgrade Pegeia adding that he feels proud that with only a few weeks left in his term as president, he sees a big difference from the Cyprus of 2013 to the Cyprus of 2023, adding that photographs depict the improvement over the last ten years.

The President said the cost for improving and renovating the current project is estimated to be 1,860,000 euros, and other significant projects of the local government are also in the pipeline, with a total budget of 6,500,000 euros. These include the improvement of Michalakis Kyprianou Avenue and the construction of a seaside promenade, as well as a study for the construction of wave breakers in the Askos area.

Regarding the Akamas Master Plan, he said he has met the community leaders of the area, adding “we do not disregard their rights as a result of the binding provisions of the report which deprives them of their rights”.

President Anastasiades referred to finding a balance between respect for the environment and the principles imposed by the EU and at the same time taking into consideration the human but also property rights of the residents in particular.

Mayor of Pegeia Marinos Lambrou said that the reacquisition of historical buildings and their utilization for the public interest has been a priority of the Municipality since its establishment.

The President later on laid the foundation stone of the Cultural Village of Lempa, proposing to name it “Cultural Village of Stass Paraskos Lempas”, honoring the artist who founded the School of Fine Arts in the village.

The creation of the cultural village, with a total budget of 4 million euro, among other things, provides for the development of building infrastructures that will form the core of the School of Fine Arts, while the complex of upgraded infrastructures will also have multifunctional facilities, workshops, exhibition halls and accommodation for teachers, students and other artists.

The President expressed confidence that with its completion in 2023, the cultural village in Lempa will help further highlight the hidden dynamics of Cyprus and Lempa, which goes back to earlier, ancient times.

President of the Lempa community, Thoukydides Chrysostomou, said that Lempa has been an important center of culture and creation since ancient times, adding that many artists settled in the village after the Turkish invasion in 1974.

Furthermore, the President laid the foundation stone of the West Coastal Promenade of Pafos. In his speech, he referred to the interest shown by the Government, so that Pafos can “recover the greatness it had during antiquity”.

“With today’s project and after a tour, a farewell tour I must say, in many communities, I am satisfied” he said, noting that if one compares photos from ten years ago, in 2013 with those from today, one realises that during the government’s term in office a lot has changed, “giving another image to Cyprus, the one that we wanted”.

Referring to the project he said it has a cost of 4 million euro, and it adds to the efforts to highlight the archaeological and cultural heritage of Pafos.

Mayor of Pafos Phaedonas Phaedonos, thanked the President for his support to Pafos, and said that the cost of the project of the West Coastal Promenade amounts to 7.4 million euro. The Mayor of Pafos also referred to the creation of a museum dedicated to Apostle Paul.

Source: Cyprus News Agency

Cyprus and Austria will submit specific proposals next week on issues of cooperation with third countries, on issues of migrant returns and voluntary relocation, announced on Friday Minister of Interior, Nicos Nouris.

He was speaking after a meeting in Vienna with his counterpart Gerhard Karner.

During their meeting, the two reviewed the current situation regarding the migrant issue as both countries are among the top European Union member states in terms of receiving asylum seekers. They also agreed on a series of issues and initiatives.

Nouris also said that they discussed issues of common interest ahead of the forthcoming informal EU Interior Ministers’ Council meeting in Stockholm. These include the issues which remain pending since the New European Pact on migration and asylum.

The Cypriot Minister said they emphasised the need for significant interventions by the European Commission and that next week they will submit specific suggestions on how to cooperate with third countries, on the issue of returns and voluntary relocation.

Additionally, he said they agreed on cooperation between Cyprus and Austria on the interoperability of security systems for external borders and entry criteria, which will be pursued in the coming weeks.

Source: Cyprus News Agency

Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) called for the preservation of fiscal space, as the economic prospects are deteriorating due to Russia’s war in Ukraine.

Addressing an event held on Thursday by YPO Cyprus chapter titled, “The global debt trap – the implications for growth and possible solutions to tackle it,” Herodotou also called for increased vigilance to avert private debt defaults that would lead to increased private debt levels.

Referring to Cyprus’ public debt, Herodotou said that following its downward trajectory after the 2012 -2013 economic crisis public debt spiked due in 2018 and 2020 due to related to the Cyprus Cooperative Bank, and in 2020 due to the outbreak of the pandemic.

Noting that Cyprus’ debt-to-GDP ratio dropped below 90 percent at the end of 2022 due the reopening of the economy and the recovery that followed, Herodotou cautioned that “risks remain elevated due to Russia’s war in Ukraine and the deterioration in the global economic environment.”

“At the current juncture,” he said, “preserving fiscal space is crucial, as government intervention is important to support the digital and green transition, improve competitiveness and promote social cohesion.”

He noted that the NextGenerationEU, which allocates around €1.2 billion to Cyprus in grants and loans, can support these goals and will have a favourable impact on real growth, adding that the successful implementation of structural reforms and the green and digital agenda will be key for transforming our economy to a sustainable and more resilient one.

Turning now on the private sector debt in Cyprus, Herodotou noted that default rates of loans with stricter loan origination guidelines following the 2013 crisis is quite low, adding however that “the domestic private debt levels are still burdened with legacy loans that are more difficult to tackle and require special attention.”

He also noted that Cyprus’ private to GDP fell to 236% in the second quarter of 2022 from its peak of 353% of GDP in the first quarter of 2015 but pointed out that despite this significant reduction, the domestic non-financial private debt ratio is still relatively high compared with an average of 140% for the euro area.

“Both households and non-financial corporations’ debt exhibit a passive deleveraging behaviour, given that their decline is mainly driven by increases in nominal GDP, known as a denominator effect,” he said.

The CBC governor stressed that today, in an economic environment of high inflation, high interest rates and weakened growth prospects, the risks for a deterioration in asset quality leading to even higher private debt levels and a higher crowding out effect are considered to be on the upside.

He also pointed out that the high percentage of loans in Cyprus with floating interest rate, makes them particularly sensitive to the higher interest rate era that we are entering.

Noting that at the current juncture, the prudent CBC supervisory Debt-Service-to-Income ratio (DSTI) tool, defined as a household’s total monthly debt payments divided by its monthly net disposable income that is in place in Cyprus, is expected to somewhat mitigate the negative impact of higher lending rates, Herodotou concluded saying that “extra vigilance and concerted action is required at all levels to address these debt risks and minimise any crowding out effects.”

Source: Cyprus News Agency

Cyprus-Greece Business Association is undertaking an initiative to establish an air connection between Larnaca and Alexandroupolis next summer.

A press release issued by the Association said that its Board has decided to reach out with the Eastern Macedonia-Thrace Region to air companies which carry out flights connecting Cyprus and Greece, asking them to establish an air connection between Larnaca and Alexandroupolis.

The proposal is to establish such a connection on a weekly basis for 2-3 months next summer, with a view to boost efforts for tourist exchanges between Cyprus and Eastern Macedonia and Thrace. To this end, a letter has already been drafted and will be sent to the air companies.

Source: Cyprus News Agency

In Cyprus, the share of gross final energy consumption from renewable sources was at 18.4% in 2021, below the European average of 21.8%, having however increased steadily since 2004 and the country’s accession into the EU, data released by Eurostat on Friday show. Compared to 2020, the share increased by 1.5 percentage points (from 16.9%). In 2019, the share had been at 13.8%.

The share of gross final energy consumption from renewable sources at EU level reached 21.8% in 2021, marking a slight decrease of 0.3 percentage points (pp) compared to 2020 (the first decrease ever recorded).

In its press release, Eurostat notes that the EU has set an EU-wide target for a 32% share of renewables by 2030. Also, in 2021 the Commissoin has proposed amending the target to 40%, and in 2022 it has included a further proposal in its REPowerEU plan which would bring the target to 45%.

In addition to the effect that lifting COVID-19 restrictions in 2021 had on increasing energy consumption, which decreased the share of renewables (despite an increase in renewable energy production in absolute terms compared with 2020), a change in methodology also helps explain this development, as the data is calculated on the basis of a new directive in 2021.

Sweden in first place, 15 member states below EU average

With more than half of their energy from renewable sources in its gross final consumption of energy, Sweden (62.6%, relying mostly on a mix of biomass, hydro, wind, heat pumps and liquid biofuels) had by far the highest share among the EU Member States in 2021.

Sweden is followed by Finland (43.1%) and Latvia (42.1%) (both using mostly biomass and hydro), Estonia (37.6%, relying mostly on biomass and wind), Austria (36.4%, mostly hydro and biomass) and Denmark (34.7%, mostly biomass and wind).

In total, 15 of the 27 EU members reported shares below the EU average in 2021 (Belgium, Bulgaria, Czechia, Germany, Ireland, Spain, France, Italy, Cyprus, Luxembourg, Hungary, Malta, Netherlands, Poland and Slovakia).

The lowest proportions of renewables were recorded in Luxembourg (11.7%), Malta (12.2%), the Netherlands (12.3%), Ireland (12.5%) and Belgium (13.0%).

Source: Cyprus News Agency

The appointment of the judges of the Supreme Constitutional Court and the Supreme Court and the courts’ operation, together with the Court of Appeal that will start operations on July 1, 2023, completes a fundamental reform of the judicial system that remained attached to the practical structures of the 1960s, said on Thursday night, President of the Republic, Nicos Anastasiades.

He was speaking during the ceremony of assurance of the new Presidents and members of the Supreme Court and the Supreme Constitutional Court, at the Presidential Palace, in the presence, among others, of the President of the Parliament, the Justice Minister and other officials.

“The important development for the administration of justice is the result of the close cooperation between the Government, the Supreme Court, the Attorney General and the Bar Association, as well as the high sense of responsibility shown by the political forces by adopting the bills submitted to Parliament”, President Anastasiades said.

Antonis Liatsos was appointed as President of the Supreme Constitutional Court and Tereza Karakanna, Marika Papathoma, Dora Sokratous, Stalo Hadjiyianni, Tasia Psara-Miltiadou, Elias Georgiou, Tefkros Economou and Nicolas Santis as members.

Katerina Stamatiou was appointed as President of the Supreme Court and Lena Demetriadou-Andreou, Elena Ephraim, Yasemis Yasemi, Angelos David, Ioannis Ioannides and Haris Malahtos as members.

President Anastasiades recalled that towards the implementation of their plans and goals, they proceeded with a series of legislations and projects that led to an increase in the number of district judges, in the first stage, by 40, an increase of 54% compared to the number of judges in 2013, not including the increase of judges of the Supreme Constitutional Court and the Court of Appeal, the establishment of new courts, such as the Commercial Court, the Maritime Court, the Administrative Court and the Court of International Protection.

President Anastasiades also referred to actions to protect and safeguard the rights of the child, and to combat corruption.

He also referred to the establishment of the School of Judges and the introduction of e-justice, noting that, it is expected that, by 2025 the digital recording of proceedings will be introduced while the construction of important courthouse building infrastructure projects, with a total cost of more than €100 million, will be completed.

The President of the Supreme Constitutional Court, Antonis Liatsos, said that, the establishment of a Constitutional Court, as a separate judicial body, was deemed necessary in order, among other things, to facilitate the guarding and promotion of the Rule of Law, as this was also pointed out by the Venice Commission.

On behalf of all the members of the Supreme Constitutional Court, he gave the assurance that they will do their utmost, to ensure that, during their term, the Supreme Constitutional Court will fulfill its mission to the full, “responding to the justified expectations of society.”

The President of the Supreme Court, Katerina Stamatiou, in her own speech, said, among other things, that this appointment is a special honour and at the same time a great challenge.

The task assigned to the Supreme Court is particularly difficult under today’s conditions, where the implementation of the Justice Reform is required, which aims to upgrade the system, with a particular emphasis on the timely delivery of justice, “an area in which we lag behind European standards”, she said. She noted that the challenge of implementing the reform is great and there is no choice but to succeed. Stamatiou said that they will work with all their might, to lead the justice of the country into a new era, always respecting the value of the work of the judges from the establishment of the Republic of Cyprus until today.

Source: Cyprus News Agency

Cypriot MP, Costis Efstathiou, will participate in the 1st part of the 2023 Session of the Council of Europe Parliamentary Assembly (PACE).

According to a press release issued by the Cyprus House, Efstathiou, who is a member of the PACE Cypriot parliamentary delegation, will travel to Strasbourg on Sunday to participate in the 1st part of the 2023 PACE Session, that will take place on January 23-27.

The meeting will discuss, among other issues, sexual violence during armed conflicts, progress and pending challenges as regards the implementation of the Istanbul Convention, moral, cultural and education issues that come up from the modern applications for tracing contacts, the environmental consequences of armed conflicts and the legal and other aspects related to human rights as a result of the Russian attack against Ukraine.

Prime Minister of Iceland, Katrín Jakobsdóttir, German FM, Annalena Baerbock, and Council of Europe Secretary General Marija Pejcinovic will address the Assembly.

Source: Cyprus News Agency

Hyatt’s transformative growth continues with planned acquisition of Dream Hotel Group, global expansion of Caption by Hyatt brand and organic growth of Hyatt’s global portfolio

CHICAGO–(BUSINESS WIRE)– Hyatt Hotels Corporation (NYSE: H) shared today that Hyatt is positioned for continued transformative growth in 2023 and beyond with a record pipeline of approximately 117,000 rooms worldwide as of year-end 2022. Notably, nearly one in four pipeline properties is classified as a lifestyle hotel, representing 10 percent of the existing base of hotels, further strengthening Hyatt’s leadership position in the luxury, lifestyle and leisure segments. The significant growth of these high-value properties in Hyatt’s portfolio expands the compelling guest experiences that can further drive World of Hyatt loyalty penetration across the Hyatt portfolio.

A notable driver of this growth is the announced asset-light acquisition of Dream Hotel Group’s lifestyle hotel brand and management platform which is expected to bring established lifestyle hotel brands – including Dream Hotels, Unscripted Hotels and The Chatwal – into the Hyatt portfolio. Dream Hotel Group properties are known for their experiential hospitality including hotspot restaurants and nightlife venues built on strategic and unconventional programming and brand collaborations, paired with signature designs that balance substance with sizzle. The acquisition will welcome more than 600 new colleagues into the Hyatt family, bringing deep expertise in experiential hospitality to Hyatt’s global portfolio of lifestyle offerings and extending Hyatt’s brand footprint in strategic destinations including Nashville, Hollywood, Las Vegas, South Beach, Saint Lucia, Doha and New York City. It will also mark the entrance of Hyatt brands into markets such as the Catskills in New York and Valle de Guadalupe in Mexico.

Additionally, the Caption by Hyatt brand – which combines the design and comfort of an upscale, lifestyle-forward hotel with the flexibility of a select-service property – is poised for significant growth following the successful opening of Caption by Hyatt Beale Street Memphis in 2022. The brand is expected to grow its presence in Tennessee with Caption by Hyatt Chattanooga in collaboration with 3H Group (expected for 2024) and enter California with both Caption by Hyatt Roseville in collaboration with LRE and Companies and American Hospitality Services, Inc. and Caption by Hyatt Sacramento in collaboration with Presidio Hotel Development LLC and 29th Street Capital (both expected for 2026). The Caption by Hyatt brand is expanding internationally with previously announced properties expected to open in China and Japan in 2023, Vietnam in 2025 and Sydney in the coming years. Grounded in caring for people and place and creating connections between them, the Caption by Hyatt brand is committed to hiring diverse talent, vendors, artisans, and suppliers – and celebrating the diversity of people in the communities in which Caption by Hyatt hotels are located.

“Through our intentional long-term growth strategy and by working closely with owners, Hyatt boasts five years of industry-leading organic net rooms growth,” said Jim Chu, executive vice president, chief growth officer, Hyatt. “Owners want to work with us because of our expertise, performance track record and optimal positioning in the industry. We have global scale, but we are nimble enough to create personal relationships, draw on our own experiences and lead with empathy.”

New Luxury, Lifestyle and Leisure Properties in Prominent Markets

Hyatt anticipates additional organic growth across its luxury, lifestyle and leisure offerings, bringing thoughtful design, innovative food and beverage and personalized service around the globe.

The Park Hyatt brand is set to:

– Reestablish its presence in South Africa with Park Hyatt Johannesburg in late 2023 and make its entrance to Morocco with Park Hyatt Marrakech, offering luxury resort elegance with Moroccan charm.

– Return to London with Park Hyatt London River Thames and expand in the Asia Pacific region with Park Hyatt Taipei (Taiwan), Park Hyatt Kuala Lumpur (Malaysia) and Park Hyatt Phu Quoc (Vietnam) in 2024.

In 2023, the Andaz brand will celebrate expansion into new markets with:

– Andaz Doha in Qatar, which will bring locally inspired design and contemporary art to a new level, offering guests signature touchpoints and innovative dining outlets including a South African signature restaurant and a Singaporean street food restaurant.

– Andaz Pattaya Jomtien Beach in Thailand will deliver a lush and secluded beachfront retreat providing myriad ways for guests to connect with the local Thai culture, from destination excursions to authentic dining, wellness and family activities.

– Andaz Mexico City Condesa, which connects Mexican culture with its traditional architecture and imaginative décor, recently opened its doors in January.

– Andaz Macau, which will be set within one of Asia’s most iconic and advanced meeting and event destinations – Galaxy International Convention Center (GICC) – will debut as the largest Andaz hotel in the world with more than 700 rooms and suites.

– Andaz Nanjing Hexi in Greater China, which will blend the eclectic spirit of the modern Nanjing and the long history of the prosperous academic culture.

Hyatt’s Boundless Collection and Independent Collection, which range from upscale to luxury lifestyle brands, feature a healthy pipeline of expected openings in 2023 and 2024 including:

– Growth of the Thompson Hotels brand with two chic urban oases set to debut with Thompson Palm Springs and Thompson Houston.

– Expansion of the Hyatt Centric brand in prime destinations that connect guests to the heart of the action, including Hyatt Centric Congress Avenue Austin, Hyatt Centric Zhongshan Park Shanghai, and Hyatt Centric Xi’an Gaoxin.

– The anticipated debut of the Destination by Hyatt brand in Florida with the verdant 18-hole signature golf resort Banyan Cay Resort and Golf in West Palm Beach, as well as in Asia Pacific with The Grand Resort in Qingchengshan, China.

– The planned debut of the JdV by Hyatt brand in Rhode Island, with The Pell, a vibrant coastal hotel located in the middle of Aquidneck Island in Middletown, and in Goa with the anticipated opening of Ronil, set on 1.6 acres of coastal land in Baga, India.

– The anticipated opening of NUMU Boutique Hotel, part of The Unbound Collection by Hyatt, in San Miguel de Allende, Mexico.

Introducing All-Inclusive Premier Brands Around the World

Hyatt offers one of the largest portfolios of luxury all-inclusive resorts in the world including a healthy pipeline of expected openings in 2023 spearheaded by growth across Bulgaria’s popular Black Sea destinations and the recent launch of Secrets Impression Resorts and Spas, a first-of-its-kind product designed to deliver the highest level of luxury all-inclusive service and amenities. This intimate line of boutique, adults-only havens offer exclusive personalized experiences, butler service and curated gastronomy designed to exceed expectations. The new line extension celebrated the opening of Secrets Impression Moxché Playa del Carmen in December 2022 and expects to welcome its second property, Secrets Impression Isla Mujeres later this year.

Select Service Growth in Top Vacation Destinations Attracting Families and Leisure Travelers

With more than 400 Hyatt Place and nearly 130 Hyatt House properties in top travel destinations across the globe, Hyatt’s select service brands continue to extend their customer base to attract leisure travelers and families looking for relaxing, seamless hotel experiences. The Hyatt House brand recently underwent a brand refresh to celebrate all travel occasions, long and short. Travelers staying at Hyatt House hotels globally can make themselves at home, whether it’s a family getaway, reuniting with friends or extending a business trip.

Hyatt is expected to add an impressive line-up of Hyatt Place and Hyatt House properties globally over the coming years including in key emerging leisure hotspots and business travel destinations in the U.S. and Canada, such as Hyatt House Traverse City (Michigan), Hyatt House Bozeman (Montana), Hyatt Place Cape Canaveral (Florida), Hyatt House Roseville (California), Hyatt Place Toronto – Downtown/Jarvis Street (Ontario), and Hyatt Place Mississauga – Airport Corporate Centre (Ontario). Additionally, in 2023 the brands are expected to make their international market entries in Guyana and Estonia.

For more information about Hyatt hotels, please visit: www.hyatt.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 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 September 30, 2022, the Company’s portfolio included more than 1,200 hotels and all-inclusive properties in 72 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®, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson 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 and Spa Resorts, Secrets® Resorts and Spas, Breathless Resorts and Spas®, Dreams® Resorts and Spas, Vivid Hotels and Resorts®, Alua Hotels and Resorts®, and Sunscape® Resorts and 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 include statements about Hyatt’s growth plans, expected openings, pipeline, planned acquisition, and positioning in the luxury, lifestyle and leisure segments. 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, risks associated with the acquisition of Apple Leisure Group, including successful integration of the Apple Leisure Group business; the duration and severity of the COVID-19 pandemic or any additional resurgence and the pace of recovery following the pandemic or any additional resurgence; the short and long-term effects of the COVID-19 pandemic, including on the demand for travel, transient and group business, and levels of consumer confidence; the impact of actions taken by governments, businesses, or individuals in response to the COVID-19 pandemic or any additional resurgence on global and regional economies, travel limitations or bans, and economic activity; the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic or any additional resurgence; 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 such as earthquakes, tsunamis, tornadoes, hurricanes, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; 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 capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and the introduction of new brand concepts; the timing of acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations; 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; 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 other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including our annual report on Form 10-K and our Quarterly Reports on Form 10-Q, which filings are available from the SEC. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements. 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 undertake no 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.

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Source: Cyprus News Agency