Hyatt Hotels Corporation (H - Free Report) is consistently making efforts to expand its footprint worldwide. Recently, the company announced the opening of hotels in Central China and South Korea. It also plans to open hotels in Manchester. Let’s delve deeper.
In the Hunan Province of Central China, the company plans to open Hyatt Regency Zhuzhou. Notably, this 246-roomed hotel is situated in the south of Zhuzhou City and offers scenic views of Xiangjiang River and golf course greenery. The company is confident about the success of this hotel as the Zhuzhou West high-speed train station and the Changsha Huanghua International Airport is 12 mins and 60 mins away from the property, respectively.
Moreover, Hyatt announced that its Andaz Brand will make a debut in the South Korean capital. Notably, this 241-roomed property marks the fifth Hyatt-branded hotel in South Korea.
Hyatt Inks Deal With Ewart Manchester Properties
Hyatt also announced that its affiliate inked a management deal with Ewart Manchester Properties Limited, a majority-owned subsidiary of M&L Hospitality, to introduce two of Hyatt’s brands in Manchester namely — Hyatt Regency Manchester Oxford Road and Hyatt House Manchester/Oxford Road. Notably, the 212-roomed Hyatt Regency hotel and 116-roomed Hyatt House hotel will be located in The Lume — the landmark building. Both the hotels are slated to open in 2020. Following the opening of these two hotels, Hyatt-branded hotels in the U.K. will increase to 11.
The company is likely to benefit from the opening of these two hotels as Manchester is the U.K.’s top-most commercial centers, gaining popularity among leisure travelers. Moreover, both the hotels, situated in the University Quarter, will help its guests to choose the right setting for their needs.
In a bid to maintain its position as the fastest-growing global hospitality company, Hyatt is continuing to drive unit growth. As of Jun 30, 2019, the company's portfolio included more than 875 properties in 60 countries across six continents. Hyatt is also expanding its footprint into the diverse international markets including Asia Pacific, Europe, Africa, the Middle East and Latin America.
Meanwhile, the company’s new brand signings have consistently outpaced openings globally. This trend is expected to continue in the current year. For 2019, it expects unit growth of roughly 7.25-7.75%, reflecting 80 new hotel openings.
Notably, the expansion of Hyatt Regency, Hyatt House and Andaz brands will help Hyatt boost its overall revenues and witness increased revenue per available room (RevPAR) for its comparable system-wide properties worldwide.
Year to date, shares of Hyatt have gained 10.6% compared with the industry’s 19.7% rally.
Currently, Hyatt, which shares space with Marriott International, Inc. (MAR - Free Report) Choice Hotels International, Inc. (CHH - Free Report) and Marriott Vacations Worldwide Corporation (VAC - Free Report) , carries a Zacks Rank #3 (Hold). You can the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
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