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Hyatt (H) Boosts its Luxury Line-up In Europe With New Hotel
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Hyatt Hotels Corporation’s (H - Free Report) affiliate recently entered into a franchise agreement with La Manga Club, S.L. to develop Grand Hyatt La Manga Club and Resort. Post the renovations, the company expects to open the property in Spain in mid-2023.
The hotel is located on the Mediterranean coast and comprises 192 guestrooms, with 13,863 square feet of flexible meeting and event space. This apart, it comes with a range of amenities that include food and beverage services, golf courses, La Manga Club Football Center and expansive outdoor tennis facilities.
Concerning the property, Felicity Black-Roberts, vice president of development, Europe, Hyatt, stated, “Grand Hyatt La Manga Club and Resort will offer the modern traveler enriching luxury and lifestyle experiences and will mark an important milestone in our impressive luxury brand growth in Europe.”
Emphasis on Expansion
Hyatt is consistently trying to expand its presence worldwide and has expansion plans in Asia-Pacific, Europe, Africa, the Middle East and Latin America. Expansion in these markets should help the company gain market share in the hospitality industry, thereby boosting business.
During the third quarter of 2022, the company announced a collaboration with Lindner Hotels to boost its presence in Europe. With an expanded footprint of 15 new markets, the initiative includes integrating 30 hotels (and 5,500 rooms) into the GDB by the Hyatt brand. The company anticipates the initiative to boost its room count in Europe by nearly 25,000 rooms. Also, the company announced the addition of five resorts in Bulgaria under ALG Brands. The company anticipates opening the resorts in 2023.
The company announced a joint venture with Kiraku to launch Atona (a new luxury hospitality brand of modern-style hot springs ryokans) in Japan. The initiative focuses on boosting the company’s luxury footprint. With development plans underway, the company anticipates opening the first Atona-branded ryokans by 2025.
It remains optimistic about full-service growth opportunities, comprising newbuilds and conversions globally.
Image Source: Zacks Investment Research
In the past three months, shares of the company have gained 19.5% compared with the industry’s 12.5% growth.
Some better-ranked stocks in the Zacks Consumer Discretionary sector are World Wrestling Entertainment, Inc. , Hilton Grand Vacations Inc. (HGV - Free Report) and Royal Caribbean Cruises Ltd. (RCL - Free Report) .
World Wrestling Entertainment currently sports a Zacks Rank #1. WWE has a trailing four-quarter earnings surprise of 25.2%, on average. The stock has increased 76.5% in the past year.
The Zacks Consensus Estimate for WWE’s 2023 sales and earnings per share (EPS) indicates a rise of 4.9% and 10.7%, respectively, from the year-ago period’s estimated levels.
Hilton Grand Vacations currently sports a Zacks Rank #1. HGV has a trailing four-quarter earnings surprise of 3.7%, on average. Shares of HGV have declined 20.2% in the past year.
The Zacks Consensus Estimate for HGV’s 2023 sales and EPS indicates a rise of 4.7% and 24.6%, respectively, from the year-ago period’s levels.
Royal Caribbean currently carries a Zacks Rank #2 (Buy). RCL has a trailing four-quarter earnings surprise of negative 1.8%, on average. Shares of RCL have declined 28.4% in the past year.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates a rise of 43.6% and 138.3%, respectively, from the year-ago levels.
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Hyatt (H) Boosts its Luxury Line-up In Europe With New Hotel
Hyatt Hotels Corporation’s (H - Free Report) affiliate recently entered into a franchise agreement with La Manga Club, S.L. to develop Grand Hyatt La Manga Club and Resort. Post the renovations, the company expects to open the property in Spain in mid-2023.
The hotel is located on the Mediterranean coast and comprises 192 guestrooms, with 13,863 square feet of flexible meeting and event space. This apart, it comes with a range of amenities that include food and beverage services, golf courses, La Manga Club Football Center and expansive outdoor tennis facilities.
Concerning the property, Felicity Black-Roberts, vice president of development, Europe, Hyatt, stated, “Grand Hyatt La Manga Club and Resort will offer the modern traveler enriching luxury and lifestyle experiences and will mark an important milestone in our impressive luxury brand growth in Europe.”
Emphasis on Expansion
Hyatt is consistently trying to expand its presence worldwide and has expansion plans in Asia-Pacific, Europe, Africa, the Middle East and Latin America. Expansion in these markets should help the company gain market share in the hospitality industry, thereby boosting business.
During the third quarter of 2022, the company announced a collaboration with Lindner Hotels to boost its presence in Europe. With an expanded footprint of 15 new markets, the initiative includes integrating 30 hotels (and 5,500 rooms) into the GDB by the Hyatt brand. The company anticipates the initiative to boost its room count in Europe by nearly 25,000 rooms. Also, the company announced the addition of five resorts in Bulgaria under ALG Brands. The company anticipates opening the resorts in 2023.
The company announced a joint venture with Kiraku to launch Atona (a new luxury hospitality brand of modern-style hot springs ryokans) in Japan. The initiative focuses on boosting the company’s luxury footprint. With development plans underway, the company anticipates opening the first Atona-branded ryokans by 2025.
It remains optimistic about full-service growth opportunities, comprising newbuilds and conversions globally.
Image Source: Zacks Investment Research
In the past three months, shares of the company have gained 19.5% compared with the industry’s 12.5% growth.
Zacks Rank & Key Picks
Hyatt Hotels Corporation 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 World Wrestling Entertainment, Inc. , Hilton Grand Vacations Inc. (HGV - Free Report) and Royal Caribbean Cruises Ltd. (RCL - Free Report) .
World Wrestling Entertainment currently sports a Zacks Rank #1. WWE has a trailing four-quarter earnings surprise of 25.2%, on average. The stock has increased 76.5% in the past year.
The Zacks Consensus Estimate for WWE’s 2023 sales and earnings per share (EPS) indicates a rise of 4.9% and 10.7%, respectively, from the year-ago period’s estimated levels.
Hilton Grand Vacations currently sports a Zacks Rank #1. HGV has a trailing four-quarter earnings surprise of 3.7%, on average. Shares of HGV have declined 20.2% in the past year.
The Zacks Consensus Estimate for HGV’s 2023 sales and EPS indicates a rise of 4.7% and 24.6%, respectively, from the year-ago period’s levels.
Royal Caribbean currently carries a Zacks Rank #2 (Buy). RCL has a trailing four-quarter earnings surprise of negative 1.8%, on average. Shares of RCL have declined 28.4% in the past year.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates a rise of 43.6% and 138.3%, respectively, from the year-ago levels.