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Hyatt (H) on an Expansion Spree, Unveils Property in Oman
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Hyatt Hotels Corporation (H - Free Report) recently announced the opening of Alila Hinu Bay in Oman. This marks the opening of the second Alila property in the region and 27th Hyatt-branded hotel across the Middle East.
Located in the southwest region of Dhofar, the beachfront property comprises 112 guestrooms and private pool villas. It also features an outdoor bathtubs, restaurant, lounges and Spa Alila. It also offers convenient access to Salalah International Airport. The property lies in close proximity to several leisure attractions such as the Wadi Darbat valley, the Mirbat Castle and Sumhuram Archeological Park.
With respect to the opening, Martin Persson, general manager, Alila Hinu Bay, stated, “We are very excited to add Alila Hinu Bay to the Hyatt portfolio and welcome guests to this region of Oman, a true nature lover’s paradise full of stunning landscapes, waterfalls and greenery.”
Focus on Expansion
Hyatt has been consistently trying to expand its presence worldwide to gain market share in the hospitality industry. It is optimistic about full-service growth opportunities, which includes newbuilds and conversions globally.
During the second quarter of 2021, the company opened 27 new hotels (or 4,302 rooms) contributing to strong net rooms growth of 7.1% year over year. Case in point, the company stated that Alila Hinu Bay will be joining Hyatt’s Alila brand portfolio (of 15 properties) joining hotels and resorts in Indonesia, India, China, Cambodia, Malaysia and the United States.
Price Performance
Image Source: Zacks Investment Research
Coming to price performance, shares of Hyatt have gained 23.8% in the past year compared with the industry’s 20.8% growth. The company has been benefitting from a gradual increase in demand, new hotel openings and acquisition initiatives. Also, focus on loyalty program bodes well. The company stated that improvements in the business transient and group bookings for dense urban markets such as New York, Washington D.C., Chicago and San Francisco. It expects the momentum to continue, subject to successful vaccination rollouts as well as easing of travel restrictions. Earnings estimates for 2021 have moved up in the past 60 days, depicting analysts’ optimism regarding the stock’s growth potential.
Image: Bigstock
Hyatt (H) on an Expansion Spree, Unveils Property in Oman
Hyatt Hotels Corporation (H - Free Report) recently announced the opening of Alila Hinu Bay in Oman. This marks the opening of the second Alila property in the region and 27th Hyatt-branded hotel across the Middle East.
Located in the southwest region of Dhofar, the beachfront property comprises 112 guestrooms and private pool villas. It also features an outdoor bathtubs, restaurant, lounges and Spa Alila. It also offers convenient access to Salalah International Airport. The property lies in close proximity to several leisure attractions such as the Wadi Darbat valley, the Mirbat Castle and Sumhuram Archeological Park.
With respect to the opening, Martin Persson, general manager, Alila Hinu Bay, stated, “We are very excited to add Alila Hinu Bay to the Hyatt portfolio and welcome guests to this region of Oman, a true nature lover’s paradise full of stunning landscapes, waterfalls and greenery.”
Focus on Expansion
Hyatt has been consistently trying to expand its presence worldwide to gain market share in the hospitality industry. It is optimistic about full-service growth opportunities, which includes newbuilds and conversions globally.
During the second quarter of 2021, the company opened 27 new hotels (or 4,302 rooms) contributing to strong net rooms growth of 7.1% year over year. Case in point, the company stated that Alila Hinu Bay will be joining Hyatt’s Alila brand portfolio (of 15 properties) joining hotels and resorts in Indonesia, India, China, Cambodia, Malaysia and the United States.
Price Performance
Image Source: Zacks Investment Research
Coming to price performance, shares of Hyatt have gained 23.8% in the past year compared with the industry’s 20.8% growth. The company has been benefitting from a gradual increase in demand, new hotel openings and acquisition initiatives. Also, focus on loyalty program bodes well. The company stated that improvements in the business transient and group bookings for dense urban markets such as New York, Washington D.C., Chicago and San Francisco. It expects the momentum to continue, subject to successful vaccination rollouts as well as easing of travel restrictions. Earnings estimates for 2021 have moved up in the past 60 days, depicting analysts’ optimism regarding the stock’s growth potential.
Hyatt — which shares space with Hilton Worldwide Holdings Inc. (HLT - Free Report) , Choice Hotels International, Inc. (CHH - Free Report) and Marriott Vacations Worldwide Corporation (VAC - Free Report) in the Zacks Hotels and Motels industry — has a Zacks Rank #3 (Hold), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.