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Hyatt (H) Strengthens Presence, Opens Hotel in Los Angeles
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Hyatt Hotels Corporation (H - Free Report) recently announced the opening of a lavish Thompson Hollywood hotel in Los Angeles. This marks the brand’s first Thompson Hollywood hotel. The all-new, 11-storied, 190-room hotel is innovatively designed by the London-based well-known designer Tara Bernerd & Partners. The culinary sections are supervised by Ten Five Hospitality. The project is owned by Relevant Group in partnership with Steinberg Hart.
Embracing luxurious hospitality trends, Thompson Hollywood hotel comes with the reservation cost starting at $399 per night. Nonetheless, the hotel showcases Thompson Hotels brand’s commitment toward providing an ultimate guest experience. Thompson Hotels offers extravagant features like fine dining, rooftop lounge bar and pool with exceptional scenic overlook accompanied by world-class food and beverage experiences offered by Ten Five Hospitality.
Thompson Hollywood is located at the centre of Los Angeles and in the neighbourhood of Sunset Strip, Runyon Canyon, the Hollywood Bowl, Griffith Observatory, Hollywood Boulevard, the Capitol Records Building and many more. With respect to the addition, Relevant Group’s managing partner, Grant King stated, “This property not only perfectly sits at the storied intersection of the technology, media and entertainment realms, but will inevitably heighten Hollywood’s visibility as a coveted hospitality destination.”
Solid Expansion Drives Growth
Hyatt aims to differentiate its brands from one another by providing distinct travel experiences. Hyatt is also consistently trying to expand its presence worldwide and has expansion plans in Asia-Pacific, Europe, Africa, the Middle East and Latin America. Expansion in these markets is expected to help the company gain market share in the hospitality industry, thus boosting business.
Notably, the company continues to expand in diverse international markets like Australia, Brazil, Germany, the U.K., Indonesia, Japan, Mexico, Saudi Arabia, Singapore, Thailand, Netherlands South Korea, Canada and the Caribbean.
Coming to share performance, Hyatt has surged 33.9% in the past year compared with the Zacks Hotels and Motels industry’s 30% rally. Notably, the company has been benefitting from a gradual increase in demand, new hotel openings and acquisition initiatives. Markedly, occupancies in most areas of Greater China have reached pre-COVID-19 levels owing to a rebound in domestic travel. Also, increased focus on loyalty program bodes well.
Image: Bigstock
Hyatt (H) Strengthens Presence, Opens Hotel in Los Angeles
Hyatt Hotels Corporation (H - Free Report) recently announced the opening of a lavish Thompson Hollywood hotel in Los Angeles. This marks the brand’s first Thompson Hollywood hotel. The all-new, 11-storied, 190-room hotel is innovatively designed by the London-based well-known designer Tara Bernerd & Partners. The culinary sections are supervised by Ten Five Hospitality. The project is owned by Relevant Group in partnership with Steinberg Hart.
Embracing luxurious hospitality trends, Thompson Hollywood hotel comes with the reservation cost starting at $399 per night. Nonetheless, the hotel showcases Thompson Hotels brand’s commitment toward providing an ultimate guest experience. Thompson Hotels offers extravagant features like fine dining, rooftop lounge bar and pool with exceptional scenic overlook accompanied by world-class food and beverage experiences offered by Ten Five Hospitality.
Thompson Hollywood is located at the centre of Los Angeles and in the neighbourhood of Sunset Strip, Runyon Canyon, the Hollywood Bowl, Griffith Observatory, Hollywood Boulevard, the Capitol Records Building and many more.
With respect to the addition, Relevant Group’s managing partner, Grant King stated, “This property not only perfectly sits at the storied intersection of the technology, media and entertainment realms, but will inevitably heighten Hollywood’s visibility as a coveted hospitality destination.”
Solid Expansion Drives Growth
Hyatt aims to differentiate its brands from one another by providing distinct travel experiences. Hyatt is also consistently trying to expand its presence worldwide and has expansion plans in Asia-Pacific, Europe, Africa, the Middle East and Latin America. Expansion in these markets is expected to help the company gain market share in the hospitality industry, thus boosting business.
Notably, the company continues to expand in diverse international markets like Australia, Brazil, Germany, the U.K., Indonesia, Japan, Mexico, Saudi Arabia, Singapore, Thailand, Netherlands South Korea, Canada and the Caribbean.
Coming to share performance, Hyatt has surged 33.9% in the past year compared with the Zacks Hotels and Motels industry’s 30% rally. Notably, the company has been benefitting from a gradual increase in demand, new hotel openings and acquisition initiatives. Markedly, occupancies in most areas of Greater China have reached pre-COVID-19 levels owing to a rebound in domestic travel. Also, increased focus on loyalty program bodes well.
Image Source: Zacks Investment Research
Zacks Rank
Hyatt — which shares space with Marriott International, Inc. (MAR - Free Report) , Hilton Worldwide Holdings Inc. (HLT - Free Report) and Choice Hotels International, Inc. (CHH - Free Report) in the same industry — currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.