Hyatt Hotels Corporation announced that a Hyatt affiliate entered into a management agreement for Park Hyatt Busan with Hyundai Development Company, a Seoul-based real estate developer and construction company and owner of Park Hyatt Seoul. Slated to open in 2013, Park Hyatt Busan will be part of an iconic, mixed use development project comprised of three residential towers, one office tower, and retail space, which will be located on a prominent 10-acre site adjacent to Haeundae Beach, a beach destination in Busan, South Korea.“The Park Hyatt Busan project demonstrates the diversity and versatility of our efforts to enhance guest loyalty by expanding the presence of all Hyatt-branded hotels around the world in destinations like Busan where our guests are traveling,” said Ratnesh Verma, senior vice president, real estate and development for Hyatt Hotels & Resorts. “The quality of the Park Hyatt brand and the location of this project are expected to provide great appeal to business and leisure travelers alike.”
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