Most hoteliers across the globe are trying to augment guest satisfaction and gain a better foothold in the industry. Hence, brand conversion and remodeling have become a trend, especially in the past couple of years. As part of its continued brand-revitalization strategy, Hyatt Hotels Corporation (H - Free Report) plans to bring the Andaz brand in Germany, Europe and in Bali, Indonesia.
Hyatt Hotels has entered into a contract with Jost Hurler Beteiligungs-und Verwaltungsgesellschaft mbH & Co. KG, a family-owned property company based in Munich for the opening of an Andaz Hotel in Munich, Germany. This 274 room hotel featuring an all-day restaurant, a lounge, a rooftop bar, a fitness center, spa and pool facilities is slated to open in 2017. Strategically positioned in the center of the city, Andaz Munich is located near various tourist destinations and is easily accessible from the Munich Airport. We believe the hotel’s strategic location will boost guest count, thereby bringing in revenues.
In Bali, Indonesia, the company has entered into a contract with P.T. Wynncor Bali to open an Andaz resort in the city which is expected open in 2016. This resort will be the first Andaz branded property in Bali as well as in Southeast Asia. This beachfront resort will feature144 guestrooms, meeting rooms, multiple dining options, a fitness center, a pool and a spa.
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.
Given the competitive scenario, it is difficult for hoteliers to survive without making new openings at attractive locations. As a result, other hoteliers like Marriott International, Inc. (MAR - Free Report) and Starwood Hotels & Resorts Worldwide Inc. are also coming up with new properties to offer an advanced and customized travel experience.
Hyatt Hotels has a Zacks Rank #3 (Hold). Extended Stay America, Inc. (STAY - Free Report) is a better-ranked stock in the same industry with a Zacks Rank #2 (Buy).