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06.03.2012

Zurich Airport News Flash No. 5 / Hyatt hotels selected for "The Circle"

Flughafen Zürich AG is proud to announce that an affiliate of Hyatt Hotels Corporation has signed management agreements for two hotels for „The Circle“ at Zurich Airport. This is an important first step toward the realization of the planned services complex.

The international hotel brand Hyatt will provide management services for two hotels within the project “The Circle” at Zurich Airport. A Hyatt Regency hotel and a Hyatt Place hotel will be constructed within walking distance of the terminal. Together, the two hotels will offer a total of 550 rooms on a space of 45’000 square meters. The Hyatt Regency will also provide convention facilities for 1500 people and additional rooms for meetings and exposition spaces.

With this commitment for the hotels, about 25 percent of the total space will be occupied. The successful contract therefore marks an important step towards the realization of the project. Zurich Airport CEO Thomas E. Kern rejoices accordingly: “We have found the right partner for our project. Hyatt matches the positioning of ‘The Circle’ perfectly.”

Construction permit granted
Another important step towards the realization is the construction permit which Zurich Airport has been granted on March 6, 2012, by the City of Kloten. A 30 day time frame for filling an appeal is now active.

In order to successfully complete the project, additional factors have to be provided for: First there need to be additional anchor tenants for the office and services spaces. Second, capital expenditure is a crucial fundament for economic viability and has to be secured. Lastly, equity holding and financial structures have to be created. If all these requirements are met, if funding is secured and no appeals are filed, then construction is set to begin the next year.

About Hyatt Hotels Corporation
Hyatt is a global hospitality company with widely recognized, industry leading brands and a tradition of innovation developed over its more than fifty-year history. Hyatt’s mission is to provide authentic hospitality by offering a broad array of services for event organizers, business travelers as well as leisure travelers. The company manages, franchises, owns and develops Hyatt branded hotels, resorts and residential and vacation ownership properties around the world. As of December 31, 2011, the company's worldwide portfolio consisted of 483 properties in 45 countries. At Zurich Airport the company will be represented by two of its brands, Hyatt Regency and Hyatt Place.

About the Brand Hyatt Regency
Hyatt Regency offers a wide array of services and facilities tailored to serve the needs of meeting planners, business travelers and leisure guests. Hyatt Regency convention hotels feature spacious meeting and conference facilities designed to provide a productive environment. Hyatt Regency Zurich Airport will feature 250 rooms and a convention center for up to 1500 people as well as additional rooms for working sessions.

About the Brand Hyatt Place
Hyatt Place is designed for the busy lifestyle of today’s multi-tasking business traveler and features a selected range of services aimed at providing casual hospitality in a well-designed, high-tech and contemporary environment. Signature features of Hyatt Place include, among others, a 24 hours per day, seven days a week guest kitchen. Hyatt Place Zurich Airport will offer 300 rooms aimed primarily at business travelers and families.

About „The Circle“
“The Circle” is the first global location with the ambience of a small town and the synergies of a big city. Located directly adjacent to Zurich Airport in the centre of a dynamic economic region and with an effective area of 200’000 square meters, it offers visitors an innovative and ideal mix of services within an ingenious infrastructure where upmarket offerings such as hotels, restaurants, head quarters, office spaces and event locations and further education programs meet urbane lifestyle. And all influenced by the Swiss quality ethos from which even the premium brands can profit.

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