Hyatt Hotels Corporation (H - Free Report) recently announced back to back openings of two hotels, one in China and the other one in Indonesia, both under the Hyatt Regency brand. Both these Hyatt properties are expected to be operational in 2017.
For its property in China, the company has entered into an agreement with Beijing Lixing Property Development Co., Ltd. Located in northeastern region of Beijing, Hyatt Regency Beijing, Wangjing will include 349 guestrooms, a number of restaurants and bars, event spaces, a fitness center, a spa, and a swimming pool. The site also houses three high-end office buildings, retail spaces, and a central park area, which when integrated with the hotel will create a communal space for both business and relaxation.
Hyatt Regency Beijing, Wangjing will be the third Hyatt-branded hotel in the city, after Park Hyatt Beijing and Grand Hyatt Beijing.
Apart from the Hyatt Regency Beijing, another Hyatt property that is slated to open in 2017 is the Hyatt Regency hotel in Sentul City, Indonesia. Located less than 25 miles south of Jakarta on the border of the city of Bogor, the hotel has 225 rooms, an outdoor pool, a spa and a meeting space. Similar to the Hyatt Regency Beijing, this site will also feature retail mall space of approximately 22,400 square meter and office space of 19,700 square meters.
This hotel will mark the sixth Hyatt-branded hotel in Indonesia, with the other five being Grand Hyatt Bali, Grand Hyatt Jakarta, Hyatt Regency Bandung, Hyatt Regency Yogyakarta, and Hyatt Regency Bali.
In a concerted effort to strengthen its portfolio, the hotelier is trying to develop new properties in various countries under different brands. Only last week, the company launched its popular brand Hyatt Place hotel in Yerevan, Armenia in Asia. Prior to that, the company came up with Hyatt Zilara Cancun, in southeastern Mexico.
Other hoteliers are also in the fray, with a few of them a focusing towards renovation and refurbishment to attract customers. Recently, The Ritz-Carlton Hotel Company LLC, a wholly-owned subsidiary of Marriott International Inc. (MAR - Free Report) completed a $2 million renovation of its iconic spa resort, The Ritz-Carlton Key Biscayne, Miami in Key Biscayne, Fla. Under the remodeling project, the resort’s spa fitness centre and salon were upgraded. After the renovation, the hotel boasts a combination of modern elegancy with an upscale spa facility, fine dining, cultural venues and a wide tennis court.
The company presently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the hotels sector include Choice Hotels International Inc. (CHH - Free Report) and Orient-Express Hotels Ltd. , both with a Zacks Rank #2 (Buy).