In collaboration with Grupo Hermosillo, leading global hotel chain, Hyatt Hotels Corporation (H - Snapshot Report) recently unveiled the Hyatt Place San Jose del Cabo in Baja California Sur, Mexico thus introducing the Hyatt Place brand in Mexico.
This is the third Hyatt Place property in Latin America and the Caribbean after Hyatt Place Bayamon in Bayamon, Puerto Rico and Hyatt Place San Jose/Pinares in Costa Rica.
On Dec 6, the company announced the opening of Hyatt Place Bayamon in Puerto Rico, the first Hyatt Place property in the Caribbean market. Meanwhile, this marked the company’s return to Puerto Rico after seven years. In Nov 2012, the company unveiled Hyatt Place San Jose/Pinares, its first in Costa Rica and the first Hyatt Place hotel outside the U.S.
Other Hyatt Place hotels in the pipeline in Mexico include La Paz, Baja California Sur; Tijuana, Baja California; and Ciudad del Carmen, Campeche. Hyatt already operates hotels in Mexico under other popular brands such as Hyatt Regency Cancun, Hyatt Regency Merida, Hyatt Regency Villahermosa, Hyatt Ziva Los Cabos and Hyatt Zilara Cancun.
Hyatt Hotels is consistently trying to expand its presence worldwide. In a concerted effort to strengthen its portfolio, the hotelier is trying to develop new properties in the country under different brands. Last week, Hyatt Hotels in collaboration with Drury Hotels Company, a Missouri based family owned and operated business, announced the opening of Hyatt Place St. Louis/Chesterfield, the first Hyatt Place hotel in the St. Louis metropolitan area.
In order to remain competitive and strengthen their presence in the industry, hoteliers need to accelerate domestic as well as international expansion. Recently, In order to ramp up its presence in the flourishing Chinese market, leading hotelier Starwood Hotels & Resorts Worldwide Inc. unveiled a property named Aloft Dalian in Dalian, Northeast China.
Hyatt Hotels presently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the hotel industry include Marriott Vacations Worldwide Corp. (VAC - Snapshot Report) and Marriott International, Inc. (MAR - Analyst Report) . Both these stocks hold a Zacks Rank #2 (Buy).