Global Hyatt Corporation to manage Park Hyatt Patagonia, Chile.

Hyatt Signed Management Agreement with Inmobiliaria Patagonia Virgin Limitada for 138-room Luxury Resort in the heart of the Chilean Patagonia. HVS Buenos Aires offices participation included Hotel Asset Management Service.

Global Hyatt Corporation signed a management agreement with Inmobiliaria Patagonia Virgin Limitada for Park Hyatt Patagonia, Frutillar, Chile, slated to open in 2009. The project will mark the first entry of an international hotel company into the Patagonia region of South America.

Park Hyatt Patagonia, Frutillar, Chile will be part of a mixed-use residential resort in the northern region of Patagonia, near the enchanting town of Frutillar, Chile. Located in the midst of breathtaking evergreen forests and a snow-capped volcanic skyline, the luxury resort will be constructed on 490 acres of unspoiled land, bordering Lake Llanquihue. The property will also feature an 18-hole Jack Nicklaus Signature Golf Course, two specialty restaurants, a lounge, meeting facilities for small to medium events, and spa facilities and suites, focusing on health and wellness.

“We look forward to working with Patagonia Virgin in developing and promoting this amazing destination,” said Myles McGourty, Hyatt’s Area Vice President, Latin America. “We feel privileged to be involved in this landmark development project, and plan to operate the resort in a sustainable manner to preserve and protect its natural beauty.”

“With this management agreement with Hyatt, we have compiled an exclusive circle of key players that will establish this development as a renowned luxury resort,” Jamie Said, President of Patagonia Virgin, remarked. “We are certain that Hyatt’s 50 years of experience in the hospitality industry will ensure that guests at Park Hyatt Patagonia, Frutillar, Chile will experience a world class luxury experience.”

Golf legend and course designer Jack Nicklaus recently commented, “The golf course site itself is ideally located on the Patagonia Lakes area, which with the combination of the mountains, volcanoes, native forest and gentle contours of the property, will give us an opportunity to create something very special.”

The property is being master-planned by a renowned team of architects, designers and landscape artists and advised by HVS Buenos Aires.