A new hotel within the Hyatt franchise is set to open in Swieqi in the final quarter of 2024, just across the road from the existing Hyatt Regency in St Julian’s.
The hotel will be operated under the Hyatt Centric brand. It is situated on Santu Wistin Street, Swieqi. It will feature 187 hotel rooms, spread over nine floors, of which 27 rooms are interconnected, a spa, indoor and outdoor pool facilities on the 10th floor, a restaurant and lounge.
The development, bearing application number PA/07099/21, was approved in October 2022 despite objections from the Swieqi Local Council and environmental NGO Din l-Art Ħelwa, with works commencing in April of this year.
The new hotel will take the place of two adjacent villas, Sans Souci and Rocheville, which the company bought for €9.25 million apiece in 2022, having a combined superficial area of 996 sqm.
The announcement was made by Juel Group, which is the parent company of Juel Hospitality, a company incorporated with the purpose of owning and managing the hotel.
In its prospectus for a €32 million bond issue, Juel Hospitality said it believes that the hotel, once constructed, “shall be a strong contender in the local hospitality market”, noting that “the location of the hotel is largely popular with tourists given the availability of restaurants, beaches, and nightlife in close proximity”.
By 2027, the hotel is expected to generate gross operating profit per available room (GOPAR) of €22,000, according to the company, which added that the core management team has yet to be employed given the time left until construction is completed.
About Juel Group
Juel Group’s major shareholder is Adrian Muscat, with his father George Muscat holding a nominal single share.
George Muscat is a major shareholder of GAP Group (in which Juel Group is itself a 33.3 per cent shareholder). Among his developments are Fort Cambridge in Tigné Point. George Muscat is also the ultimate beneficiary owner of 50 per cent of Bay Street Group, which includes the Hyatt Regency Malta and be.Hotel among its holdings, located metres away from the new Hyatt Centric development.
Adrian Muscat has led the project team responsible for on-site management of the projects undertaken by GAP Group since 2001, and as an indirect minority shareholder of Bay Street Group, regularly attends executive team meetings of the be.Hotel and the Hyatt Regency Malta for the purposes of reviewing the operational performance of both properties and determining the development strategy thereof.
About Hyatt Centric
As per Juel Hospitality’s prospectus, the Hyatt Centric brand was introduced in 2015 “with the aim of providing a more simplistic and tailored approach aimed at business and leisure travellers, through the operation of various hotels in some of the world’s most popular cities, including Montreal, Hong Kong, Dublin, New Delhi, Madrid, and New York.”
The Hyatt Centric brand seeks to target modern explorers who want “a full-service hotel with minimum fuss” which provides the necessary comforts in a less formalistic and uncomplicated manner.
Emphasis is placed on the location and accessibility of the hotels forming part of the brand with each brand hotel being centrally located in the most popular cities and capital cities across the world.
“Hyatt Centric brand hotels are characterised by fun and eclectic interior design which focuses on the uniqueness and characteristic features of a hotel’s location.
“Whilst the same level of standards exists throughout all hotels under the Hyatt Centric brand, through its choice of services, design and amenities, each hotel seeks to provide its guests with an experience which is characteristic of a hotel’s location ensuring a more immersive and customised holiday experience.”