The move was confirmed by Yoo Capital and Deutsche Finance International (DFI), joint investors and developers of the £1.3bn regeneration of Olympia London, four years ahead of its scheduled completion.
Construction work is now underway at the 14-acre site, and alongside Hyatt, live entertainment company AEG Presents and luxury lifestyle and hotel brand Citizen have also signed long-term agreements to operate out of the venue.
Yoo Capital and DFI are also in “advanced” talks with other potential occupiers, who have reportedly shown a “strong” interest in the development’s four-screen arthouse cinema, 1,500-seat theatre, restaurants, shops, cafés, hotels and 550,000 sq ft of office and co-working space.
CBRE and Cushman and Wakefield are joint advisors on the leasing, and the Olympia London redevelopment is due to be completed in 2024.
Owen Pritchard, executive director, EMEA Hotels at CBRE said: “We are extremely pleased to have supported Deutsche Finance International and YOO Capital in securing two market leading hotel operators that will further enhance the allure of Olympia as a world-leading cultural and entertainment destination.”
Chairman of Yoo Capital, John Hitchcox, said: “It’s been a challenging year for the events, live entertainment, retail and hospitality sectors – but having these three partners on board is a real positive for London and a clear indication of confidence in both the city and this iconic landmark as a destination for culture and creativity.
“The Olympia project will give a real boost to the local economy, bringing in an extra £9m per year in consumer spending to Hammersmith & Fulham, so we are very pleased to be taking another big step towards the realisation of a new vision for this area.”