We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Hyatt to Expand Hyatt Centric Brand Footprint in United States
Read MoreHide Full Article
Hyatt Hotels Corporation (H - Free Report) announced plans to expand the footprint of its Hyatt Centric brand with new hotels in downtown Memphis, TN., downtown Nashville, TN., and downtown Austin, TX. These additions testify the brand’s solid potential. The hotels are expected to open in 2020 and 2021. The company has 26 properties in 11 countries that includes Chile, France, India, Japan, Spain and more.
Hyatt Centric Beale Street Memphis will be developed by a joint venture between affiliates of Hyatt and Carlisle Hotels, Inc. The construction of this 227-room hotel is likely to start in second-quarter 2019 and expected to open by the end of 2020. Meanwhile, Hyatt Centric Downtown Nashville will be developed by a joint venture between Hyatt and C. B. Ragland of Nashville. This 252-room hotel is slated to open by second-quarter 2021.
Hyatt Centric hotel in downtown Austin is anticipated to open in mid-2020 and will have 233 rooms. This hotel will be solely owned by Hyatt.
The company has already opened Hyatt Centric hotels in Los Angeles, Philadelphia, downtown Portland, Ore; Midtown Atlanta; Bangalore, India; Goa, India; Lima, Peru; Brickell, Miami; and Santiago, Chile.
Expansion Strategy Bodes Well
Hyatt aims to differentiate its brands from one another by providing distinct travel experiences. The company is also consistently trying to expand its presence worldwide and has expansion plans in the Asia-Pacific, Europe, Africa, the Middle East and Latin America.
Launched in 2015, the Hyatt Centric brand is swiftly gaining momentum. It is a brand of full-service lifestyle hotels located in prime destinations, particularly catering to millennial-minded travelers. Meanwhile, the company’s new signings across its brands globally have consistently outpaced its openings and this trend is expected to continue in 2019.
In 2018, Hyatt registered net room growth of 13.6% on a year-over-year basis. For 2019, it expects unit growth of roughly 7-7.5%, reflecting 80 new hotel openings.
Price Performance
In the past three months, shares of Hyatt have gained 9.7% compared with the industry’s 18.6% rally. Stocks like Extended Stay America, Inc. , Marriott Vacations Worldwide Corporation (VAC - Free Report) and Hilton Worldwide Holdings Inc. (HLT - Free Report) , which belong to the same industry, have also gained 19%, 39.5%, and 21.9%, respectively, in the same period.
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
Image: Bigstock
Hyatt to Expand Hyatt Centric Brand Footprint in United States
Hyatt Hotels Corporation (H - Free Report) announced plans to expand the footprint of its Hyatt Centric brand with new hotels in downtown Memphis, TN., downtown Nashville, TN., and downtown Austin, TX. These additions testify the brand’s solid potential. The hotels are expected to open in 2020 and 2021. The company has 26 properties in 11 countries that includes Chile, France, India, Japan, Spain and more.
Hyatt Centric Beale Street Memphis will be developed by a joint venture between affiliates of Hyatt and Carlisle Hotels, Inc. The construction of this 227-room hotel is likely to start in second-quarter 2019 and expected to open by the end of 2020. Meanwhile, Hyatt Centric Downtown Nashville will be developed by a joint venture between Hyatt and C. B. Ragland of Nashville. This 252-room hotel is slated to open by second-quarter 2021.
Hyatt Centric hotel in downtown Austin is anticipated to open in mid-2020 and will have 233 rooms. This hotel will be solely owned by Hyatt.
The company has already opened Hyatt Centric hotels in Los Angeles, Philadelphia, downtown Portland, Ore; Midtown Atlanta; Bangalore, India; Goa, India; Lima, Peru; Brickell, Miami; and Santiago, Chile.
Expansion Strategy Bodes Well
Hyatt aims to differentiate its brands from one another by providing distinct travel experiences. The company is also consistently trying to expand its presence worldwide and has expansion plans in the Asia-Pacific, Europe, Africa, the Middle East and Latin America.
Launched in 2015, the Hyatt Centric brand is swiftly gaining momentum. It is a brand of full-service lifestyle hotels located in prime destinations, particularly catering to millennial-minded travelers. Meanwhile, the company’s new signings across its brands globally have consistently outpaced its openings and this trend is expected to continue in 2019.
In 2018, Hyatt registered net room growth of 13.6% on a year-over-year basis. For 2019, it expects unit growth of roughly 7-7.5%, reflecting 80 new hotel openings.
Price Performance
In the past three months, shares of Hyatt have gained 9.7% compared with the industry’s 18.6% rally. Stocks like Extended Stay America, Inc. , Marriott Vacations Worldwide Corporation (VAC - Free Report) and Hilton Worldwide Holdings Inc. (HLT - Free Report) , which belong to the same industry, have also gained 19%, 39.5%, and 21.9%, respectively, in the same period.
Hyatt has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>