Hyatt Hotels Corporation (NYSE: H) today announced that a wholly owned subsidiary has entered into an agreement to purchase the 119-room Royal Palms Resort and Spa. The transaction is expected to close in July 2016. The hotel will continue to be operated as the Royal Palms Resort and Spa and will become affiliated with The Unbound Collection by Hyatt, offering a rich history and sense of place that fits the brand’s promise of creating story-worthy and shareable experiences for guests.

“The acquisition of the Royal Palms Resort and Spa shows our commitment to growing this brand, as well as our commitment to guests as we aim to create an increased presence in markets where we know they are traveling,” said Steve Haggerty, global head, real estate and capital strategy for Hyatt. “The Royal Palms Resort and Spa is an ideal fit for The Unbound Collection by Hyatt given the hotel’s prominent positioning in the market and its ability to create experiences for our guests. We look forward to continuing to grow this brand globally in a strategic and meaningful way.”

The Royal Palms Resort and Spa borders Scottsdale and Paradise Valley in Arizona. It was opened in 1929 as the home of wealthy New York financier, Delos Willard Cooke. Known as “El Vernadero” or the family’s winter haven, the property drew immediate attention and became a beloved local landmark known for its Mediterranean, Spanish colonial architecture and luxurious landscaped grounds, using the famous Camelback Mountain as a design focal point.

The Royal Palms Resort and Spa offers 119 oversized guestrooms, suites, casitas and villas, as well as more than 21,000 square feet of estate-like indoor and outdoor meeting space. Its world-class amenities include the award-winning Alvadora Spa and the highly acclaimed T.Cook’s restaurant, which features seasonal menus in an elegant and intimate setting. The Alvadora Spa is designed with tranquil stone interiors, and the outdoor treatment areas are set within lush, private courtyards. The resort’s luxurious Desert Palm Pool includes cabanas, an outdoor lounge and spa, and The Mix Up Bar and Desert Pool Side Café, which offers creative cocktails and al fresco poolside dining. A two-story fitness center overlooks the estate that includes an orange grove and Tuscan-style gardens with stone fireplaces throughout.

The Unbound Collection by Hyatt launched in February 2016 and has since grown to six properties offering story-worthy experiences, including the newest addition of the Royal Palms Resort and Spa. Other properties in the collection include The Confidante in Miami Beach, Miami; The Driskill Hotel in Austin, Texas; the Hôtel du Louvre in Paris, France; the Carmelo Resort & Spa in Carmelo, Uruguay; and the Coco Palms Resort in Kauai, Hawaii, which is expected to undergo a revitalization and re-open in spring 2018.

Each property in The Unbound Collection by Hyatt will maintain its distinct character and the freedom to be extraordinary while providing guests and owners Hyatt’s award-winning customer loyalty program, robust operational and marketing resources and trusted, quality brand.

The term “Hyatt” is used in the release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 12 premier brands and 652 properties in 53 countries, as of March 31, 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.