Hyatt Hotels Corporation has announced that it plans to build a 96 room hotel adjacent to Republic Square in Yerevan.

Slated to open in the spring of 2013, the new Hyatt Place Yerevan will feature a fitness center, an open market, a restaurant and a bar.

“We are proud to develop the first Hyatt Place hotel in Armenia,” said Samvel Sargsyan, Chairman of the Board, Ginekar Limited Liability Company. “The Hyatt Place brand is a unique and refreshing concept, and we believe that this will be a very successful hotel serving business and tourist visitors to the Armenian capital.”

The new hotel will be the third Hyatt establishment under development in Europe, joining Hyatt Place Amsterdam Airport and Hyatt Place Zurich Airport.