Hyatt Hotels Corporation ( H Quick Quote H - Free Report) recently announced the opening of Alila Napa Valley in St. Helena, CA. Notably, this marks the second Alila property in the Americas and the 1000th Hyatt hotel opening worldwide. Following the announcement, shares of the company moved up 3.1% during the trading hours on Mar 15. Located, in one of the world’s famous wine regions, the hotel comes with a 68-rooms, adults-only restorative retreat. It also features an outdoor pool, restaurant and bar, Spa Alila, and a fitness center. With respect to the launch, Jim Chu, Hyatt’s executive vice president of global franchising and development, stated, “Today, we remain focused on expanding our global footprint and building our business based on where we can best extend care and make a positive impact on our guests and the communities in which we operate.” Increased Focus on Expansion
Hyatt has been consistently trying to expand its presence worldwide in order to gain market share in the hospitality industry. Recently, the company announced a solid pipeline of developments that are likely to cater to the company’s intention of global market expansion.
For the Alila brand, the company plans to open Alila Marea Beach Resort Encinitas in Encinitas, CA; Alila Dalit Bay in Sabah, Malaysia, and Alila Hinu Bay in Salalah, Oman. For the Andaz brand, the company plans to open Andaz Bali in Bali, Indonesia.
In terms of Destination by Hyatt, the company plans to open Banyan Cay Resort & Golf in West Palm Beach, FL; The Seabird Resort in Oceanside, CA; The Shay in Culver City, CA, and Sweetgrass Inn at Wild Dunes Resort in Isle of Palms, SC. For Grand Hyatt, the company plans to open Grand Hyatt Kuwait in Kuwait City, Kuwait.
For the Hyatt Centric brand, the company plans to open Hyatt Centric Beale Street Memphis in Memphis, TN. Also, it plans to open hotels in Cambridge, England; Charlotte, NC; Denver, CO; Dubai, U.A.E.; Melbourne, Australia; Nashville, TN.; Sacramento, CA; Antiguo Cuscatlan, El Salvador.
Moreover, the company is planning to open properties under its Hyatt House / Hyatt Place, Hyatt Regency, JdV by Hyatt, Park HyattThompson Hotels, and The Unbound Collection by Hyatt brands.
Going forward, the company remains optimistic about full-service growth opportunities, comprising both newbuilds and conversions globally.
In the past three months, shares of the company have gained 21.8% compared with the industry’s 19.4% growth. Hyatt — which shares space with Hilton Worldwide Holdings Inc. ( HLT Quick Quote HLT - Free Report) , Choice Hotels International, Inc. ( CHH Quick Quote CHH - Free Report) and Marriott Vacations Worldwide Corporation ( VAC Quick Quote VAC - Free Report) in the Zacks Hotels and Motels industry — has a Zacks Rank #4 (Sell), at present.
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