To shift its focus from the near-saturated developed markets, Chicago, IL-based leading global hotel chain Hyatt Hotels Corp. (H - Free Report) is currently focusing on the faster growing Asia-Pacific region to benefit from the region’s rising demand for hotels. The company currently operates more than 50 hotels in this region.
The hotelier recently unveiled a Hyatt Regency-branded property in Phuket, Thailand in association with a local real estate company — Kamala Bay Ventures. The brand debuted in the famous Phuket island with the five-star property christened Hyatt Regency Phuket Resort.
Strategically positioned near Kamala Cove, the hotel is close to Patong beach and in close proximity to Phuket International Airport. Hyatt Regency Phuket Resort offers 199 guest rooms along with various other amenities such as spa, fitness center, restaurants and pool bar facilities, to attract the leisure travelers.
Phuket’s pristine beaches, nightlife, shopping, dining and lodging, catch the attention of a majority of the tourists. We believe that Phuket, a major tourism hub, is a strategic fit for new hotels and the hotelier is set to tap into this flourishing market.
The Hyatt Regency branded hotels are mainly developed in the urban, suburban, airport, convention and resort destinations worldwide. Nearly 149 properties are operating under the brand globally. Apart from this new hotel, the hotelier operates another property named Hyatt Regency Hua Hin in Thailand.
In late Dec 2013, Hyatt declared the launch of one property each 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.
Hyatt holds a Zacks Rank #2 (Buy). Other players in the hotels sector include Home Inns & Hotels Management Inc. , Orient-Express Hotels Ltd. and Starwood Hotels & Resorts Worldwide Inc. . While Home Inns & Hotels sports a Zacks Rank #1 (Strong Buy), Orient-Express and Starwood holds the same rank as Hyatt.