Hyatt Hotels Corporation has formed a joint venture between a Hyatt affiliate and FSA Group S.A. (FSA) to develop and own nine Hyatt Place-branded hotels in Brazil. 

Located in key cities and towns that have established commercial and industrial infrastructure, the first of these properties will open in 2016. The total investment from Hyatt and FSA for the development of these 150- to 200-room hotels is expected to be approximately $270 million.
“This joint venture represents the next phase of Hyatt’s expansion in Latin America, and we are thrilled to work with an experienced developer that can help bring the Hyatt Place brand to one of the largest countries in the world,” says Pat McCudden, senior vice president, real estate and development for Latin America and Caribbean, Hyatt Hotels & Resorts. “Throughout Latin America, the select service segment is significantly underserved. Our U.S. guests have embraced the Hyatt Place brand and we believe that by tailoring the design and amenities specifically for the Latin American market, the brand will be equally successful in Brazil and throughout the region.”
