Hyatt has entered into a management agreement for a new hotel in the South Korean city of Busan.

The Park Hyatt Busan is envisaged to open in 2013 as part of a new mixed-use development project comprising three residential towers, one office tower and retail space, located on a four-hectare site adjacent to Haeundae Beach.

The hotel will feature 268 rooms, including 69 suites, ranging from 50 to 200 square metres. Facilities will include two restaurants, a lobby lounge, fitness centre, indoor swimming pool and spa with seven treatment rooms, as well as 715 square metres of meeting and event space.

The hotel will be Hyatt's fifth in Korea, following the Park Hyatt Seoul, Grand Hyatt Seoul, Hyatt Regency Incheon and Hyatt Regency Jeju.

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