The Hyatt Regency Waikiki Resort and Spa and the union representing more than 500 of its workers have reached a tentative contract agreement.

Thursday night's agreement, which requires ratification, follows contract settlements between UNITE HERE Local 5 and the Hilton Hawaiian Village Beach Resort & Spa and the four Sheraton hotels in Waikiki.

"Hyatt Regency Waikiki and the union agree that the deal we have forged is fair for all parties," said Mike Jokovich, general manager of Hyatt Regency Waikiki Resort and Spa. "We are proud to demonstrate our appreciation for our employees by providing competitive wages and great benefit packages that are some of the best in the nation."

Jokovich said details of the agreement will be released following ratification.

Local 5 spokesman Cade Watanabe said the economic package for Hyatt employees is "very similar" to those agreed to for Hilton and Sheraton workers. The wage increases for the Hilton and Sheraton workers are the highest in at least 15 years.

"We're very pleased that the Hyatt ... did step up and show the respect our workers deserve," Watanabe said.

The union still has to negotiate contracts for union workers at four other Honolulu hotels: the Waikiki Beach Marriott Resort & Spa, the Ilikai, the Kahala Hotel & Resort and the Ala Moana Hotel.

UNITE HERE was created by the merger of two unions, the Union of Needletrades, Industrial and Textile Employees and the Hotel Employees and Restaurant Employees.