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Hyatt (H) Boosts Global Luxury Portfolio With New Properties
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Hyatt Hotels Corporation (H - Free Report) recently announced plans to open more than 35 luxury hotels and resorts globally through 2025. The announcement is in sync with the company’s commitment to catering to luxury travelers through a strong pipeline of diverse brands in some key leisure destinations.
Noteworthy debuts include Park Hyatt's entries in the U.K., Mexico and Malaysia, Andaz's Caribbean expansion and The Unbound Collection by Hyatt's ventures in the Nordics and India. The properties, including Park Hyatt, Grand Hyatt, Miraval, Alila, Andaz, Thompson Hotels and The Unbound Collection by Hyatt brands, will strategically cater to travelers seeking personalized and wellness-focused experiences.
Driven by a rising demand for wellness-focused travel experiences, the upcoming properties provide tailor-made services, including specialized spas, sleep programs and adventurous expeditions, thereby catering to a diverse audience seeking transformative travel.
Gradual Increase in Demand
During the third quarter of 2023, leisure transient revenues increased 4% year over year. Also, leisure travel remained elevated, up 22% from third-quarter 2019 levels. In September, there was a notable 30% increase from 2019 figures. The company is optimistic that demand will remain robust for the remainder of 2023.
Sequential and year-over-year improvements in business transient demand have been aiding the company’s performance. During the third quarter of 2023, the company stated that system-wide business transient revenues improved 19% year over year and reached 90% from September 2019 levels. During the quarter, the company witnessed a rise in system-wide group bookings, which grew 10% year over year.
As people return to the office, travel restrictions are eased and more cross-border travel resumes, the company remains optimistic about the recovery of business transient and its continued momentum over the remainder of the year. Per the World Travel & Tourism Council, travel and tourism are expected to increase by nearly 12% of global GDP by 2033.
Image Source: Zacks Investment Research
In the past year, shares of Hyatt have gained 23.7% compared with the industry’s 15.5% growth.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates a rise of 57.7% and 187.9%, respectively, from the year-ago period’s levels.
Live Nation Entertainment, Inc. (LYV - Free Report) sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 37.5% on average. Shares of LYV have increased 16% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS indicates a rise of 28.6% and 132.8%, respectively, from the year-ago period’s levels.
Skechers U.S.A., Inc. (SKX - Free Report) carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 50.3% on average. Shares of SKX have increased 39.5% in the past year.
The Zacks Consensus Estimate for SKX’s 2023 sales and EPS indicates a rise of 8.2% and 44.5%, respectively, from the year-ago period’s levels.
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Hyatt (H) Boosts Global Luxury Portfolio With New Properties
Hyatt Hotels Corporation (H - Free Report) recently announced plans to open more than 35 luxury hotels and resorts globally through 2025. The announcement is in sync with the company’s commitment to catering to luxury travelers through a strong pipeline of diverse brands in some key leisure destinations.
Noteworthy debuts include Park Hyatt's entries in the U.K., Mexico and Malaysia, Andaz's Caribbean expansion and The Unbound Collection by Hyatt's ventures in the Nordics and India. The properties, including Park Hyatt, Grand Hyatt, Miraval, Alila, Andaz, Thompson Hotels and The Unbound Collection by Hyatt brands, will strategically cater to travelers seeking personalized and wellness-focused experiences.
Driven by a rising demand for wellness-focused travel experiences, the upcoming properties provide tailor-made services, including specialized spas, sleep programs and adventurous expeditions, thereby catering to a diverse audience seeking transformative travel.
Gradual Increase in Demand
During the third quarter of 2023, leisure transient revenues increased 4% year over year. Also, leisure travel remained elevated, up 22% from third-quarter 2019 levels. In September, there was a notable 30% increase from 2019 figures. The company is optimistic that demand will remain robust for the remainder of 2023.
Sequential and year-over-year improvements in business transient demand have been aiding the company’s performance. During the third quarter of 2023, the company stated that system-wide business transient revenues improved 19% year over year and reached 90% from September 2019 levels. During the quarter, the company witnessed a rise in system-wide group bookings, which grew 10% year over year.
As people return to the office, travel restrictions are eased and more cross-border travel resumes, the company remains optimistic about the recovery of business transient and its continued momentum over the remainder of the year. Per the World Travel & Tourism Council, travel and tourism are expected to increase by nearly 12% of global GDP by 2033.
Image Source: Zacks Investment Research
In the past year, shares of Hyatt have gained 23.7% compared with the industry’s 15.5% growth.
Zacks Rank and Stocks to Consider
Currently, Hyatt carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Consumer Discretionary sector are:
Royal Caribbean Cruises Ltd. (RCL - Free Report) sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 28.3% on average. Shares of RCL have surged 109% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates a rise of 57.7% and 187.9%, respectively, from the year-ago period’s levels.
Live Nation Entertainment, Inc. (LYV - Free Report) sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 37.5% on average. Shares of LYV have increased 16% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS indicates a rise of 28.6% and 132.8%, respectively, from the year-ago period’s levels.
Skechers U.S.A., Inc. (SKX - Free Report) carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 50.3% on average. Shares of SKX have increased 39.5% in the past year.
The Zacks Consensus Estimate for SKX’s 2023 sales and EPS indicates a rise of 8.2% and 44.5%, respectively, from the year-ago period’s levels.