“We are delighted to work with Bin Otaiba as we continue growing through our asset recycling strategy,” said Steve Haggerty, Hyatt’s global head of capital strategy, franchising and select service. “This transaction allows us to retain brand presence in the market and expand our relationship with an owner who is investing in the Hyatt Regency brand.”

One of the best-situated hotels in Birmingham city center, Hyatt Regency Birmingham is a modern, 4-star hotel that enjoys an unrivalled central location adjacent to Centenary Square and connects guests to who and what matters most. Offering access to the city’s landmark International Convention Centre (ICC) via bridgeway, the hotel is one of the leading convention facilities in the U.K., regularly hosting events that include the annual conferences of major political parties. It is also across from Birmingham’s Symphony Hall and 10 minutes by train to Birmingham-Shuttlesworth International Airport and the National Exhibition Centre (NEC). Additionally, the hotel is a short distance from the exclusive Mailbox and Bull Ring shopping centers. Occupying an entire 24-story, glass-front building, the hotel dominates the skyline of central Birmingham, the second largest city in the country.

The hotel’s 319 guestrooms and suites, including the exclusive Presidential Suite, all have floor-to-ceiling windows that command breathtaking views of the canal network or the city. For leisure, guests can visit the Amala Spa and Club for wellness and beauty treatments, the 16-metre indoor swimming pool and the well-equipped gymnasium. Hyatt Regency Birmingham is also home to the signature Aria Restaurant, which serves breakfast, lunch and dinner daily. Guests can enjoy a great selection of fine wines, champagnes and cocktails with friends in The Gentleman & Scholar Pub and Terrace. Traditional afternoon tea is served in the hotel daily, offering the perfect way to celebrate special occasions or round off a day's shopping.

One of the most popular business hotels in the city, Hyatt Regency Birmingham is an ideal venue for meetings and conferences, featuring 10 meeting and event rooms that are complemented by meeting packages and personalized catering services, and exceptional spaces to host the most elegant weddings.

About Hyatt Regency

The Hyatt Regency brand prides itself on connecting travelers to who and what matters most to them. More than 168 conveniently located Hyatt Regency urban and resort locations in over 30 countries around the world serve as the go-to gathering space for every occasion – from efficient business meetings to memorable family vacations. The brand offers a one-stop experience that puts everything guests need right at their fingertips. Hyatt Regency hotels and resorts offer a full range of services and amenities, including notable culinary experiences; technology-enabled ways to collaborate; the space to work, engage or relax; and expert planners who can take care of every detail. For more information, please visit www.hyattregency.com.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 12 premier brands and 667 properties in 54 countries, as of June 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.