An affiliate of Hyatt Hotels Corp. has entered into a management agreement with Shanghai Xintian Real Estate Co. Ltd. (a joint venture by Shanghai Industrial Urban Development Group Ltd. (SIUD), Sun Hung Kai Properties Ltd. (SHKP), and Shanghai Minhang Urban Construction Investment Co., Ltd.) for a Hyatt Centric hotel in southwestern Shanghai.

Expected to open in 2024, the new 186-room Hyatt Centric hotel will be a part of the 7.5-million-square-foot (700,000-square-meter) Todtown mixed-use development on top of the Xinzhuang metro station that will be comprised of residential units, serviced apartments, offices and a shopping mall. Designed with social spaces, the hotel will have a restaurant, gym, an 82-foot (25-meter) pool and two multi-functional meeting rooms.