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Hyatt (H) to Boost U.S. Portfolio With New Hotels in 2021

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Hyatt Hotels Corporation (H - Free Report) recently announced plans to open 12 new hotels in the United States and one new hotel in El Salvador by 2021. Following the news, shares of the company gained more than 1% during trading hours on Dec 10.

Notably, the company plans to open new Alila and Hyatt Centric brands, namely Alila Marea Beach Resort Encinitas (in California), Hyatt Centric Downtown Denver, Hyatt Centric Beale Street Memphis (Tennessee), Hyatt Centric 39th & 5th New York, Hyatt Centric SouthPark Charlotte (North Carolina), Hyatt Centric Downtown Sacramento (California) and Hyatt Centric San Salvador (El Salvador).

It also plans to open boutique lifestyle resorts such as Thompson Austin (Texas), Thompson Buckhead (Georgia), Thompson Denver, Thompson Hollywood (California), Thompson San Antonio and Thompson Savannah (Georgia).

The company announced that the new properties will join 90 Hyatt-branded hotels operating in North America and the Caribbean region. Following the inauguration, its domestic footprint is likely to increase 14.4%.

Expansion Initiatives to Drive Growth

So far this year, Hyatt has already opened seven new properties in the North America region, which includes Thompson Washington D.C., Hyatt Centric Old Town Alexandria, Hyatt Centric Downtown Portland, Hyatt Centric Las Olas Fort Lauderdale, Hyatt Centric Downtown Minneapolis, Hyatt Centric Center City Philadelphia and Thompson Dallas.

This apart, the company re-entered the New Zealand market with the opening of Park Hyatt Auckland. Also, Hyatt unveiled Andaz Xiamen, marking the second Andaz hotel in China. In October, the company opened Hyatt Centric Center City Philadelphia, Grand Hyatt Nashville and Hyatt Regency West Hanoi.  

During the third quarter 2020, the company announced that it has opened more than 4,300 rooms, thereby reflecting an improvement of 10% year over year. Going forward, Hyatt remains optimistic about full-service growth opportunities, comprising both newbuilds and conversions globally.

In the past three months, shares of the company have gained 35.4% compared with the industry’s 22.8% growth.

Hyatt — which shares space with Hilton Worldwide Holdings Inc. (HLT - Free Report) , Choice Hotels International, Inc. (CHH - Free Report) and Marriott Vacations Worldwide Corporation (VAC - Free Report) in the Zacks Hotels and Motels industry — has a Zacks Rank #4 (Sell), at present.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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