In a bid to expand its presence in the promising Latin American market, Chicago, Illinois-based, leading global hotel chain, Hyatt Hotels Corp. (H - Free Report) recently launched an Andaz-branded property in Guanacaste, Costa Rica. The five-star property, named Andaz Peninsula Papagayo, marks the debut of the brand in the country.
Andaz Peninsula Papagayo is strategically positioned at the Peninsula Papagayo in the northwest Pacific coast and is in close proximity to the Bay of Culebra. Reputed for its scenic beauty and cultural heritage, Costa Rica is an attractive tourist destination. Travelers staying at Andaz Peninsula Papagayo will be able to enjoy the view of the ocean as well as the forest.
We expect the strategic position, wide range of amenities offered at the 127-room hotel and its contemporary ambience to create a strong guest base, going ahead.
Hyatt has set a trend in hotel designs with the luxury boutique brand Andaz which has spread its operations globally with 11 hotels across four countries since its launch in 2007. It is currently on a high growth trajectory.
With the rise of the affluent middle-class population in Latin America, the inclination to spend on travel and leisure has somewhat risen. Apart from tourism, the region is also successfully emerging as a business hub. In fact, the select service segment in Latin America remains fairly underserved. All these factors justify Hyatt’s decision to have one of the largest hotel development pipelines in the region.
Hyatt presently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the hotels sector include Orient-Express Hotels Ltd. , Home Inns & Hotels Management Inc. and Wyndham Worldwide Corporation (WYN - Free Report) . All these companies sport a Zacks Rank #1 (Strong Buy).