BP and its affiliates have been involved
in the development, construction and construction management of over
500 hotels throughout the United States and Mexico with a market capitalization
in excess of $1.4 billion. The project types include limited-service,
extended stay, full service and resort hotels.
The hotel division has partnered with RIO International Property Company,
LP and is currently engaged in initiating a programmatic development
of 10 Hyatt Hotels throughout the United States.
BP is also initiating the development of Hyatt Hotels throughout Mexico
with RIO via the entity BP-Rio Desarrollos de Mexico S. de R.L. de
C.V. The Mexico initiative is targeting at least 10 new hotel developments
beginning in 2008.