Would not trust them for a minute. There is a dedicated thread over on the Hyatt forum on this property. They announced their opening only to close again (disgruntled guests...) and then invited senior management from other luxury properties for a site inspection, only to cancel last minute or at the gate!

They struggle with staffing, budget, etc.

No doubt it can be nice once they get their act together, but would not risk anything. Hyatt has WOH-affiliated properties in RAK, but not under management or the same owner. I am not aware of any other properties under this ownership. It would be wise to have a backup reservation at another property with a short 24-hour cancellation period. MO is just next door and probably the superior property anyway. Unless you're looking for points redemption, in which case Park Hyatt will be the only real option in Marrakech.