The Kolter Group Announces Plans For New Hyatt Centric Hotel On Las Olas Boulevard In Downtown Fort Lauderdale

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Jan 13, 2017, 11:40 ET

WEST PALM BEACH, Fla., Jan. 13, 2017 /PRNewswire/ -- Kolter Hospitality, a division of The Kolter Group, proudly announced today plans for a new Hyatt Centric hotel at 100 E. Las Olas Boulevard in Fort Lauderdale. This hotel will occupy the first fifteen levels of the 46-level brand new building in the heart of the vibrant downtown, the first mixed-use building agreement for the Hyatt Centric brand. Destined to become the tallest building in Fort Lauderdale at 499 feet, the 100 Las Olas building will be home to a full-service Hyatt Centric hotel with 238 guest rooms, a lobby-level restaurant and bar with indoor and outdoor seating, 121 luxury condominium residences beginning on the 16th level, plus an additional 8,500 square feet of select retail and dining space with outdoor seating on the first level.

The Hyatt Centric brand features full-service lifestyle hotels located in prime, city-center destinations. Created for millennial-minded travelers who want to be at the center of the action, Hyatt Centric hotels are thoughtfully designed to enable exploration and discovery. The hotel's lobby lounge will be designed as a launch pad providing guests with information about the most sought-after food, nightlife and activities the destination has to offer, sourced from a community of "in the know" local explorers.

"The Hyatt Centric brand is a perfect fit for 100 Las Olas, particularly for those interested in exploring the multitude of activities and venues in downtown Fort Lauderdale. The hotel design, location, services and amenities will cater to the urban traveler. The condominium residents will also enjoy the benefit and perks of having this incredible hotel that will offer a vibrant atmosphere with dining and creative event and meeting spaces just below them," said Scott Webb, President of Kolter Hospitality.

With construction planned to start mid-2017, Hyatt Centric Fort Lauderdale is expected to open in 2020.

"Known as the heart and soul of downtown Fort Lauderdale, Las Olas will be the perfect location for a Hyatt Centric hotel," said Jim Chu, global head select service & franchise strategy, Hyatt. "Catering to the urban explorer, the Hyatt Centric brand was the most appropriate selection for this property. We are excited to be partnering once again with Kolter Hospitality in the Fort Lauderdale market."

Hyatt Centric Fort Lauderdale will feature:

238 streamlined, modern guest rooms that focus on delivering everything guests want, including environmentally conscious bath products, Bluetooth-enabled electronics and Drybar salon-grade blowdryers.
A bar and restaurant positioned to become a local hot spot where great conversations, locally inspired food and signature cocktails can be enjoyed.
6,000 sq. ft. of meeting and banquet space.
Eighth floor elevated pool with city views.
24-hour valet, garaged parking on-site.

Bob Vail, President of Kolter Urban, the high rise condominium division said, "We envision our residents enjoying this Hyatt Centric hotel as an extension of their condominium residences and as a welcome addition to the downtown Fort Lauderdale lifestyle they so enjoy. It literally brings downtown downstairs. Hyatt Centric Fort Lauderdale will be a perfect option for visiting out-of-town family and friends. Residents can meet their visitors downstairs at the restaurant, and when the evening is finished, everyone can take the elevator home. The hotel event space will be ideal for a special family celebration, professional business meetings and corporate events. It just doesn't get any better than this."

In 2016, Kolter Hospitality was presented with the Strategic Partnership Award by Hyatt in recognition of its commendable culture, performance and operating philosophies, along with the company's strong, multi-brand relationship with Hyatt. Hyatt Centric Fort Lauderdale will be Kolter Hospitality's seventh hotel collaboration with Hyatt.

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 Kolter Hospitality
Kolter Hospitality, based in West Palm Beach, Fla., specializes in hotel management, development and acquisitions in the hospitality sector. Kolter Hospitality's alignment of core values and a performance-based framework has enabled the organization to realize success in management, development and franchisee/partner relations which are fueled by the continued growth of its development and acquisitions pipeline. Kolter Hospitality currently operates 6 hotels totaling 910 guest rooms and is in the development and construction stages for additional hotel projects in Palm Beach Gardens, Delray Beach, Fort Lauderdale, Sarasota and St. Petersburg, FL which will grow the portfolio to 2,030 guestrooms total. www.kolterhospitality.com

About The Kolter Group
The Kolter Group, a diversified real estate development and investment firm that has invested in projects with expected value in excess of $10 billion. Headquartered in Palm Beach County, Florida, Kolter is currently developing in over 40 locations throughout the southeastern United States. www.thekoltergroup.com

The Hyatt Centric Brand Experience
The Hyatt Centric brand offers full-service lifestyle hotels located in prime destinations. Created for millennial-minded travelers who want to be in the middle of the action, Hyatt Centric hotels are thoughtfully designed to enable exploration and discovery. The lobby lounge is a launch pad providing guests with information about the most sought after food, nightlife and activities the destination has to offer. The bar and restaurant are local hot spots where great conversations, locally inspired food and signature cocktails can be enjoyed. Streamlined modern rooms focus on delivering everything guests want and nothing they don't, including environmentally conscious bath products, Bluetooth-enabled electronics and salon-grade blowdryers. A team of colleagues is always available to recommend local hidden gems to launch guests' discovery of the destination.

ABOUT HYATT HOTELS CORPORATION
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 12 premier brands and 679 properties in 54 countries, as of September 30, 2016. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to create value for shareholders, build relationships with guests and attract the best colleagues in the industry. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences and vacation ownership properties, including under the Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound Collection by Hyatt™, Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™ and Hyatt Residence Club® brand names and have locations on six continents. 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. 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 the issuer of this release, are inherently uncertain. You are cautioned not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. Neither the issuer of this release nor any other entity associated with it or its subject matter undertakes any 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 one or more forward-looking statements is updated, no inference should be drawn that any additional updates will be made with respect to those or other forward-looking statements.

SOURCE Kolter Hospitality