Hyatt Hotels has signed an agreement to develop and own nine Hyatt Place-branded hotels in Brazil.

The US$270m (€205m, £176m) is a joint partnership with FSA Group, part of international business company the Libra Group.

Hyatt said the hotels will be located in "key cities and towns that have established commercial and industrial infrastructure and will help meet the growing demand for quality accommodation across Brazil".

It is anticipated that the first of these new properties will open in 2016.

FSA Group will manage and co-ordinate the development of the nine Hyatt Place hotels, and has deployed design and construction teams in Brazil to handle all aspects of project management. Hyatt will manage each of the Hyatt Place hotels.

The hotels, which will range from 150 to 200 rooms, will feature all the signature facilities of the Hyatt Place brand.

Pat McCudden, senior vice president, Latin America and Caribbean, Hyatt Hotels & Resorts said: 'Our US guests have embraced the Hyatt Place brand and we believe that by tailoring the design and amenities specifically for the Latin American market, the brand will be equally successful in Brazil and throughout the region.

"We recently opened our first Hyatt Place in Latin America, in San Jose, Costa Rica in late 2012 and we will open three additional Hyatt Place hotels this year, in Mexico, Panama, and Chile."