Hyatt Hotels Corp. (H) announced Thursday a management agreement between JSC Kazakh-Austrian Joint Venture or Rahat JSC and a Hyatt affiliate for the development of Hyatt Regency Almaty, Rahat Palace in Kazakhstan.
The 292-room hotel, which is slated to open in 2019, will be managed as Hyatt Regency Almaty, Rahat Palace. The former Hyatt Regency Almaty operated in the same building between 1995 and 2011.
It is located on Satpaev Avenue in the center of Kazakhstan's commercial and financial capital. The building will undergo renovations and the hotel will offer a variety of places to work, connect, eat and drink. The hotel will also feature the signature Hyatt StayFit gym and an indoor swimming pool.
"We are delighted to announce the return of the Hyatt Regency brand to Almaty and bring a globally recognized brand to the city that will resonate well with the growing base of business travelers," said Takuya Aoyama, vice president, development for Eastern Europe, Russia & CIS at Hyatt.
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