Hyatt Hotels Corporation (H - Free Report) recently unveiled a hotel in Chongming Island in Shanghai, China under its brand Hyatt Regency. Christened Hyatt Regency Chongming, this hotel marks the debut of this brand in Shanghai. This is also the first international five-star hotel in Chongming Island.
Hyatt Regency Chongming comprises 235 guest rooms along with restaurants and lounges and offers various amenities like a spa, a fitness center, a swimming pool as well as meeting and board rooms.
Located on the northern shore of the Yangtze River, Chongming Island is known for its organic farms, rural villages, national parks and wetlands. The island is a suitable getaway for travelers who wish to escape the commotion of city life. The upscale property situated in the midst of pristine landscapes is expected to attract travelers.
Hyatt has established a strong brand presence and has four hotels in Shanghai. 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.
In an effort to capitalize on the demand for hotels in China, Hyatt Hotels recently announced a number of Hyatt Place and Hyatt House projects in the country. With the introduction of these brands, Hyatt now has six of its nine brands operating in China. In Dec 2013, the company declared the launch of two properties under Park Hyatt and Hyatt Regency brands in Changbaishan, China. These openings were in line with the company's goal to expand its presence worldwide, especially in the Asian market.
China has also emerged as one of the largest and most dynamic markets for hoteliers like Starwood Hotels & Resorts Worldwide Inc. , Marriott International Inc. (MAR - Free Report) and Intercontinental Hotels Group plc (IHG - Free Report) .