Hyatt's New Andaz Brand to Open in Austin

The East Avenue Investment Group LP and Global Hyatt Corporation announced plans to develop a hotel under Hyatt's new luxury brand, Andaz(TM), as part of a mixed-use development in Austin's central core. The 210-room hotel will open in 2010. The announcement comes on the heels of Hyatt's unveiling of its new brand in April 2007, and announcements for Andaz hotels in London and Manhattan. The landmark Great Eastern Hotel in the City of London will convert to Andaz in mid-October, followed by properties at 75 Wall Street and 485 Fifth Avenue, New York, in 2009.

In addition to operating Andaz Austin, Hyatt will also provide an array of services to 150 condo units in a joint, 182-foot structure. Adorned with upscale amenities, the hotel will feature a pool, spa and fitness center as well as a green roof offering guests and residents a 'park in the sky.' In addition to lush landscaping, the 20,000-square-foot roof will also include a restaurant and cocktail lounge showcasing spectacular views of the city skyline and UT Austin campus.

According to Hyatt, Andaz will focus on casual luxury, offering guests an environment that allows them to live in their own personal style.

'Andaz was the result of extensive research which told us that both travelers and developers are looking for a high quality, boutique-inspired hotel experience that is casual and relaxed, yet characterized by consistently great service,' said Mark Hoplamazian, president and chief executive officer of Global Hyatt Corporation. 'Andaz is an environmentally conscious brand, with an authentic and stylish product reflective of local culture, and a service model that is highly personal and uncomplicated.'

'The Andaz concept will integrate well with this prime location and Austin's cosmopolitan energy,' said Steve Haggerty, global head - real estate and development for Global Hyatt. 'Together, we intend to attract customers looking for fresh, uncomplicated luxury that is timeless and 'gimmick' free.'

Andaz designers have also gone to great lengths to be as environmentally friendly as possible, through various features that include offering organic food and beverage, using fully biodegradable products and focusing on energy efficiency. New hotel structures will incorporate ecologically friendly building materials and building systems.

'Andaz represents precisely what the East Avenue development is all about,' said Andy Sarwal, lead developer with East Avenue Investment Group LP. 'The brand's focus on individuality, innovation and local identity make it an ideal match for Austin as well as our project.'

East Avenue IG is transforming the 23-acre, former Concordia University into a $750 million, 2.75-million-square-foot urban community. It will feature 1,450 residential units, 600,000 square feet of office, 325,000 square feet retail space along with the new luxury hotel.

Approximately 150 condo units will rest atop the hotel rooms, and residents will enjoy access to the hotel's amenities and services. Condo units will range in size from 800 to 2,700 square feet, with prices beginning in the $400,000s.