McWhinney to Begin Construction of New Hyatt Centric Hotel in Austin, Texas

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USA, Austin, Texas. November 12, 2019

McWHINNEY a Colorado-based real estate investor and developer with expertise in mixed-use, hospitality, commercial, multifamily and residential assets, will begin construction next month on Hyatt Centric Congress Avenue Austin, a new full-service lifestyle hotel in a prime downtown Austin location.

Expected to open in Fall 2021, Hyatt Centric Congress Avenue Austin will offer 246 modern guestrooms, including a nearly 1,400 square foot Presidential Suite that will also be available as private event space. The hotel will be managed by Hyatt.

The hotel's interior spaces will be inspired by Austin's boho-chic lifestyle and modern ingenuity, with nods to the rich local Texas history and energetic music scene. Designed by Texas-based hospitality design firm Duncan Miller Ullmann, Hyatt Centric Congress Avenue Austin will feature an extensive art collection created by local Austin-area artists.

Located on the corner of Congress Avenue & 8th Street, the upscale hotel will sit adjacent to Austin's historic Paramount and State Theatres and just a short walk from the 6th Street entertainment district, the Texas State Capitol, the Austin Convention Center and the University of Texas at Austin campus.

Guests will enjoy multiple dining experiences, including a locally operated restaurant on the ground floor, 2nd floor bar and private event space, as well as an 8th floor bar & outdoor lounge with stunning views of downtown Austin and the Texas State Capitol.

Hyatt Centric Congress Avenue Austin accommodations and amenities will include:

· 246 modern guestrooms

· Ground floor restaurant and bar

· 2nd floor bar and private event space

· 8th floor outdoor lounge and bar

· A state-of-the-art 24-hour fitness center, featuring cardio and weightlifting equipment

· Nearly 2,000 square feet of flexible, high-tech meeting/function space

· A 1,400 square-foot Presidential Suite

The Hyatt Centric brand features full-service lifestyle hotels located in prime destinations. Created to connect guests to the heart of the action, Hyatt Centric hotels are thoughtfully designed to enable exploration and discovery so guests never miss a moment of adventure. Currently, there are 32 Hyatt Centric hotels across 14 countries, including Chile, France, India, Japan, Spain and more. Hyatt Centric Congress Avenue Austin will mark Hyatt's 12th hotel in the Austin area and the second Hyatt Centric hotel in Texas, joining Hyatt Centric The Woodlands.

"We are excited to introduce our ‘in-the-now' Hyatt Centric brand to the charming, dynamic city of Austin, Texas," said Pat McCudden, Hyatt's senior vice president, capital strategy. "Through our development strategy, Hyatt looks for locations that allow us to grow with intent, across a strategic selection of diverse destinations where our guests want us to be - like Austin. We look forward to offering Austin's locals and visitors, World of Hyatt members, and Hyatt's loyal group of meeting and event planners a new and distinct lifestyle hotel experience in the heart of this great city."

Colorado-based McWHINNEY is involved in a wide variety of hospitality developments, from large extended-stay properties to luxurious independent boutique hotels. Recent hotel projects include The Maven Hotel at Dairy Block in Denver and the AC Hotel Portland in Portland. McWHINNEY is currently developing Hyatt Place Peña Station/Denver Airport, which is scheduled to open next month, and Hyatt Place Boston Seaport District, which is slated to open Spring 2020.

"McWHINNEY is thrilled to be entering the Texas market with this exciting new lifestyle hotel," said McWHINNEY Co-Founder and CEO, Chad McWhinney. "The Hyatt Centric brand is all about creating boutique lifestyle hotel experiences in the heart of iconic cities, which is why we strongly believe this is the perfect concept to bring to downtown Austin."

Austin-based Nelsen Partners is serving as architect for the 31-story hotel and Katerra will be the General Contractor. The project will meet the Austin Energy Green Building Standards, which were created to help developers meet sustainability goals to make Austin an environmentally-friendly place to live, work and visit.

"The Paramount and State Theatres enthusiastically look forward to partnering with McWHINNEY and Hyatt to create unique entertainment experience evenings for the residents and visitors to Downtown Austin," said Jim Ritts, the CEO and Executive Director of the Austin Theatre Alliance. "Annually, the Paramount and State Theatres present over 270 live performances, exhibit more than 350 movies and both theatres are home to the Austin Film Festival, SXSW Film Festival, Moontower Comedy Festival and the ATX Television Festival."

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