Global Hyatt Corporation and GICSA Announce Management Agreement for Park Hyatt Mexico City - Reforma

Business Wire, April 17, 2007

Luxury Hotel in Mexico City to Open in 2009

MEXICO CITY -- In a joint press conference today in Mexico City, Global Hyatt Corporation and GICSA announced the latest addition to the prestigious Park Hyatt portfolio, Park Hyatt Mexico City - Reforma. Located within the impressive Capital Reforma development, a new multi-purpose complex comprised of offices, high-end luxury Park Hyatt Residences and exclusive retail shops, Park Hyatt Mexico City is slated to open in late 2009.

With 150 luxury guest rooms and suites, the hotel will feature modern architectural design combined with rich residential interiors, two creative restaurant concepts, a lounge and elegant bar - all designed to appeal to both hotel guests and local residents. Banquet and meeting options will include a variety of flexible spaces, incorporating natural light and space into the design. In addition, the hotel will serve as a modern urban retreat, featuring a luxurious two-floor spa and convenient, exclusive access to the complex's heliport.

"We are delighted to be returning to the exciting city of Mexico after an absence of more than 20 years," remarked Myles McGourty, Hyatt's area vice president, Latin America. "We are particularly proud to be associated with GICSA and this important development, Capital Reforma, in the heart of this fast-growing financial and residential center of Mexico City."

"Park Hyatt Mexico City - Reforma is important to Hyatt as it is the first in a series of new developments that we are planning to add to our Mexican portfolio over the next few years in both resort and city locations," he added.

"The opportunity to work with Global Hyatt Corporation is an important recognition of the high caliber of work that GICSA and our partners have accomplished on this development," commented Guillermo Sanchez, Director for the Hotels and Resorts Business Unit of GICSA. "Park Hyatt Mexico City will be a landmark in our city.

"The ability to link the prestige, history and experience of our companies brings even greater cachet to the Capital Reforma project," Sanchez added. "The strength of this union will be translated into great value and benefits for our future clients.

Hyatt's top-tier luxury brand, Park Hyatt hotels are intimate and residential in style, promising elegant and gracious service on a highly personalized scale. Park Hyatt hotels are further distinguished by prime locations and exceptional interior design. Hyatt International Corporation operates 24 Park Hyatt brand hotels in 17 countries, with an additional eight hotels under development. This will be the first Park Hyatt hotel in Mexico, which will join its award-winning sister properties in Latin America, Palacio Duhau - Park Hyatt Buenos Aires and Park Hyatt Mendoza - Hotel, Casino & Spa, both in Argentina.

Hyatt International also operates two Grand Hyatt properties in South America (in Santiago, Chile and Sao Paulo, Brazil) as well as an additional five hotels in Mexican destinations including Acapulco, Cancun, Merida and Villahermosa.

ABOUT 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 44 countries. The company's affiliates own, operate, manage and franchise Hyatt branded hotels and resorts under the Park Hyatt[R], Grand Hyatt[R], Hyatt Regency[R], Hyatt Resorts[R], Hyatt[R], Hyatt Place[TM] and Hyatt Summerfield Suites[R] brands. 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.

ABOUT GICSA

Comprised of Mexican investors, GICSA is a leader in the real estate development industry in Mexico with operations in 40 percent of the country in different ventures, such as: commercial plazas, corporate centers, industrial parks, residential developments, and hotels and resorts. In addition to GICSA's domestic reach, the organization has a presence in the United States which includes Texas, Nevada and Florida, where it has consolidated its leadership with more than eight residential projects, four of them already completed and the rest in development. For more information about GICSA, please log on to www.gicsa.com.mx.