Hyatt Hotels Corporation ( H Quick Quote H - Free Report) recently announced the opening of Caption by Hyatt Beale Street Memphis in Memphis. This also marks the addition of Caption by Hyatt to its lifestyle brand portfolio. Located in the heart of the Memphis Entertainment District, the 136-room hotel showcases vibrant design, accommodations and seamless amenities. It includes access to meeting spaces, a full-service restaurant, a rooftop bar and a fitness center. Also, features such as streamlined check-in, mobile key and mobile-order food service are available. The property is close to several leisure attractions such as Orpheum Theater, the Memphis Rock n’ Soul Museum, FedEx Forum, and Sun Studios.
With respect to the opening, Sarah Titus, area general manager, Hyatt, stated, “Caption by Hyatt Beale Street Memphis is a first-of-its-kind property that offers conscientious travelers a true Memphian lifestyle experience. By creating a welcoming space for both locals and travelers to be themselves and feel connected to the community, we are proud to create a space that shares a taste of all the local culture and cuisine there is to savor.”
Focus On Expansion
Hyatt aims to distinguish its brands by providing distinct travel experiences. It is also consistently trying to expand its presence worldwide and plans to expand in Asia-Pacific, Europe, Africa, the Middle East and Latin America.
During the first quarter of 2022, 13 new hotels (or 2,690 rooms) joined Hyatt's system contributing to strong net room growth of 18.6% year over year. As of Mar 31, 2022, the company had executed management or franchise contracts for approximately 540 hotels (or 113,000 rooms). The company plans to boost Caption by Hyatt brand’s presence in additional metropolitan and downtown markets, including Shanghai, Osaka, Tokyo and Saigon. Expansion in these markets will likely help the company gain market share in the hospitality industry and boost business. In 2022, the company anticipates unit growth to increase by approximately 6% on a net-room basis. Image Source: Zacks Investment Research
In the past year, shares of the company have declined 4.2% compared with the
industry’s 13.6% fall. Zacks Rank & Key Picks
Hyatt currently carries a Zacks Rank #3 (Hold). You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Some better-ranked stocks in the Zacks Consumer Discretionary sector are Bluegreen Vacations Holding Corporation ( BVH Quick Quote BVH - Free Report) , Civeo Corporation ( CVEO Quick Quote CVEO - Free Report) and Boyd Gaming Corporation ( BYD Quick Quote BYD - Free Report) . Bluegreen Vacations sports a Zacks Rank #1. BVH has a trailing four-quarter earnings surprise of 85.9%, on average. The stock has increased 40.4% in the past year. The Zacks Consensus Estimate for BVH’s current financial year sales and earnings per share (EPS) indicates growth of 11.2% and 35.1%, respectively, from the year-ago period’s reported levels. Civeo sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 1,565.1%, on average. Shares of the company have increased 37.5% in the past year. The Zacks Consensus Estimate for CVEO’s 2022 sales and EPS suggests growth of 12.5% and 1,450%, respectively, from the year-ago period’s levels. Boyd Gaming carries a Zacks Rank #2 (Buy). BYD has a trailing four-quarter earnings surprise of 24.2%, on average. Shares of the company have declined 18.7% in the past year. The Zacks Consensus Estimate for Boyd Gaming’s current financial year sales and EPS suggests growth of 3% and 6.8%, respectively, from the year-ago period’s reported levels.