Advised by Colliers International’s UK Hospitality Asset Management team and the local Colliers office in Albania, Hyatt Hotels Corporation has announced a management agreement with Kastrati Hotels & Tower for the first Hyatt-branded hotel in Albania.
The 151-room Hyatt Regency Tirana will become the fifth Hyatt Regency hotel in Southeast Europe, joining Hyatt Regency Thessaloniki, Greece; Hyatt Regency Belgrade, Serbia; Hyatt Regency Sofia, Bulgaria; and Hyatt Regency Zadar, Croatia.
Takuya Aoyama, Vice President of Development, Hyatt, said: “Albania is one of the fastest growing economies in Europe and we are thrilled to announce plans for a hotel in Tirana, a city that has undergone real transformation in recent years. With a prime location in the country’s capital, the hotel will appeal to both business travellers and those looking to experience the cultural sights of the city.”
Ben Godon, Co Head of UK Hospitality Asset Management at Colliers International, and Stela Dhami, Managing Director of Colliers International Albania, said: “Tourism in Albania is growing at a tremendous rate. This new deal between Hyatt and Kastrati, brokered by Colliers International teams in both the UK and Albania, represents a new and exciting era for the country’s thriving hospitality sector.”
The Hyatt Regency Tirana is expected to open in late 2019.