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 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.