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Hyatt (H) Looks to Expand Brand Portfolio With Hyatt Studios
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Hyatt Hotels Corporation (H - Free Report) is set to expand its brand portfolio with first upper-midscale brand in the Americas — Hyatt Studios. The development of more than 100 Hyatt Studios has been conceived through direct collaboration with various hotel developers and is supported by signed letters of interest in development agreements. The company intends to open the first hotel in 2024, with construction expected to begin this year.
These Studios will be flexible, catering to both extended-stay and shorter-length-of-stay leisure and business transient guests. These will also offer self-serve amenities and in-room offerings like kitchen facilities in guestrooms and an overall high-quality food and beverage experience.
With regard to the announcement, chief growth officer, Hyatt, Jim Chu said, “We are proud to launch the Hyatt Studios brand and bring the high-quality experience and level of care promised by the Hyatt brand to smaller markets and submarkets where we don’t have Hyatt hotels. We identified a white space for Hyatt, creating a compelling opportunity to significantly accelerate our industry-leading net rooms growth, care for World of Hyatt members on more stay occasions and introduce World of Hyatt to new guests in a new segment which we expect will drive increased direct bookings for all properties across the Hyatt portfolio.”
Growth Factors
Shares of Hyatt increased 2.9% during the trading session on Apr 18 and have rallied 37.5% in the past six months, outperforming the Zacks Hotels and Motels industry’s growth of 21.6%.
Image Source: Zacks Investment Research
Hyatt aims to differentiate its brands by providing distinct travel experiences. Hyatt is also 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, thus boosting business.
It intends to grow its select service presence via third-party construction of new franchised properties, conversion and renovation of existing non-Hyatt properties, and in certain cases, participation in the development of new managed properties.
The company announced its plan to expand the Independent Collection brands’ footprint by 2025. By the said time, the company’s Independent Collection brands will have 11 new hotels. The company will open its first property in San Miguel de Allende, Mexico, and the first Hyatt-branded hotel in Helsinki, Finland.
Wynn Resorts, Limited (WYNN - Free Report) currently has a Zacks Rank #2 (Buy). WYNN has a trailing four-quarter earnings surprise of 0.6%, on average. Shares of the company have gained 99.8 %in the past six months.
The Zacks Consensus Estimate for WYNN’s 2023 sales and EPS suggests growth of 45.2% and 123.5%, respectively, from the year-ago levels.
Ralph Lauren Corporation (RL - Free Report) currently carries a Zacks Rank #2. RL delivered a trailing four-quarter earnings surprise of 23.6% on average. Its shares have rallied 30.8% in the past six months.
The Zacks Consensus Estimate for RL’s fiscal 2024 sales and EPS suggests growth of 5.5% and 14%, respectively, from the year-ago levels.
InterContinental Hotels Group PLC (IHG - Free Report) currently carries a Zacks Rank #2. Shares of IHG have gained 38% in the past six months. The long-term earnings growth rate of the company is 13.6%.
The Zacks Consensus Estimate for IHG’s 2023 sales and EPS suggests growth of 9.8% and 16%, respectively, from the year-ago period’s reported levels.
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Hyatt (H) Looks to Expand Brand Portfolio With Hyatt Studios
Hyatt Hotels Corporation (H - Free Report) is set to expand its brand portfolio with first upper-midscale brand in the Americas — Hyatt Studios. The development of more than 100 Hyatt Studios has been conceived through direct collaboration with various hotel developers and is supported by signed letters of interest in development agreements. The company intends to open the first hotel in 2024, with construction expected to begin this year.
These Studios will be flexible, catering to both extended-stay and shorter-length-of-stay leisure and business transient guests. These will also offer self-serve amenities and in-room offerings like kitchen facilities in guestrooms and an overall high-quality food and beverage experience.
With regard to the announcement, chief growth officer, Hyatt, Jim Chu said, “We are proud to launch the Hyatt Studios brand and bring the high-quality experience and level of care promised by the Hyatt brand to smaller markets and submarkets where we don’t have Hyatt hotels. We identified a white space for Hyatt, creating a compelling opportunity to significantly accelerate our industry-leading net rooms growth, care for World of Hyatt members on more stay occasions and introduce World of Hyatt to new guests in a new segment which we expect will drive increased direct bookings for all properties across the Hyatt portfolio.”
Growth Factors
Shares of Hyatt increased 2.9% during the trading session on Apr 18 and have rallied 37.5% in the past six months, outperforming the Zacks Hotels and Motels industry’s growth of 21.6%.
Image Source: Zacks Investment Research
Hyatt aims to differentiate its brands by providing distinct travel experiences. Hyatt is also 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, thus boosting business.
It intends to grow its select service presence via third-party construction of new franchised properties, conversion and renovation of existing non-Hyatt properties, and in certain cases, participation in the development of new managed properties.
The company announced its plan to expand the Independent Collection brands’ footprint by 2025. By the said time, the company’s Independent Collection brands will have 11 new hotels. The company will open its first property in San Miguel de Allende, Mexico, and the first Hyatt-branded hotel in Helsinki, Finland.
Zacks Rank & Key Picks
H currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Here are some better-ranked stocks from the Zacks Consumer Discretionary sector.
Wynn Resorts, Limited (WYNN - Free Report) currently has a Zacks Rank #2 (Buy). WYNN has a trailing four-quarter earnings surprise of 0.6%, on average. Shares of the company have gained 99.8 %in the past six months.
The Zacks Consensus Estimate for WYNN’s 2023 sales and EPS suggests growth of 45.2% and 123.5%, respectively, from the year-ago levels.
Ralph Lauren Corporation (RL - Free Report) currently carries a Zacks Rank #2. RL delivered a trailing four-quarter earnings surprise of 23.6% on average. Its shares have rallied 30.8% in the past six months.
The Zacks Consensus Estimate for RL’s fiscal 2024 sales and EPS suggests growth of 5.5% and 14%, respectively, from the year-ago levels.
InterContinental Hotels Group PLC (IHG - Free Report) currently carries a Zacks Rank #2. Shares of IHG have gained 38% in the past six months. The long-term earnings growth rate of the company is 13.6%.
The Zacks Consensus Estimate for IHG’s 2023 sales and EPS suggests growth of 9.8% and 16%, respectively, from the year-ago period’s reported levels.