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Chicago, Illinois-based, Hyatt Hotels Corporation (H - Snapshot Report) recently declared the opening of a Hyatt Place branded hotel in El Segundo, United States in collaboration with OTO Development. The new property named Hyatt Place Los Angeles/LAX/El Segundo is the first Hyatt Place branded hotel in the region.
The Hyatt Place will feature 143 guest rooms and 1,000 square feet of meeting space along with many other amenities including free Wi-Fi, Intimate Bakery Café, 24/7 Guest Kitchen and complimentary a.m. Kitchen Skillet. General Manager Jacob Vanderwiel and Director of Sales Wilma David are in charge of managing the hotel.
Positioned near the Metro Rail Green Line Mariposa/Nash station and Los Angeles International Airport, El Segundo is an economic hub. The hotel will benefit hugely from its strategic location and will be an integral part of the mixed-use office, retail and urban park environment.
Hyatt Place is an upscale select service brand of Hyatt Hotel, which offers a wide range of services in a high-tech and modern environment. During the third quarter of 2012, the company opened two hotels in United States under this brand, Hyatt Place Delray Beach, in Florida and Hyatt Place San Diego/Vista-Carlsbad in Northern San Diego.
Further, in early December this year, the company announced that it has agreed to open a Hyatt Place branded hotel in Bangkok in association with a local real estate firm Pioneer Property Company Limited (PPC). The new property named Hyatt Place Bangkok, Sukhumvit is slated to open for business in 2017.
Hyatt Hotels’ major rivals -- Starwood Hotels & Resorts Worldwide Inc. (HOT - Analyst Report) and Marriott International Inc. (MAR - Analyst Report) -- are also broadening their portfolio worldwide.
We presently have a long-term Neutral recommendation on the company’s stock. However, the company carries a Zacks #4 Rank (short-term Sell rating).