In a concerted effort to boost its presence in the lucrative Chinese market, leading hotelier Hyatt Hotels Corporation (H - Snapshot Report) recently declared the launch of two properties under Park Hyatt and Hyatt Regency brands in Changbaishan, China. These openings are in line with the company’s goal to expand its presence worldwide, especially in the Asian market.
The two hotels named Park Hyatt Changbaishan and Hyatt Regency Changbaishan mark the debut of Hyatt branded ski resorts in the region. Situated close to each other at the base of Changbai Mountain range and in close proximity to the Changbaishan Airport, the Songjianghe railway station and several other entertainment options, the properties form a part of the Changbaishan International Resort development project.
The Changbai Mountain range, with its natural and cultural attractions, is one of the leading tourist destinations in China. The country’s National Tourism Bureau conferred a rating of 5A for its picturesque beauty. These factors justify Hyatt’s decision to expand in the area.
While Park Hyatt Changbaishan boasts 163 guestrooms along with 36 suites, Hyatt Regency Changbaishan has 278 guest rooms. These hotels have various amenities, which are expected to attract both business as well as leisure travelers.
China is set to be the world’s leading travel destination by 2020. In order to tap this attractive opportunity, the Zacks Rank #3 (Hold) company is now venturing into various untapped but economically viable Chinese cities. Presently, the company boasts 23 properties in China of which 10 operate under the Hyatt Regency brand while 4 operate under the Park Hyatt brand.
China has been among the key markets for another hotelier, Starwood Hotels & Resorts Worldwide Inc. , as well. The company currently has around 218 hotels under several brands in the country, of which 2 are in Changbaishan.
Some better-ranked stocks in the hotels sector include Home Inns & Hotels Management Inc. and Wyndham Worldwide Corporation (WYN - Analyst Report) , both with a Zacks Rank #1 (Strong Buy).