Hyatt Hotels Corporation's (H - Free Report) Regency brand recently debuted in Spain, with the launch of Hyatt Regency Hesperia Madrid. Notably, this 169-roomed hotel marks the company’s fourth property in Spain this year. Also, the new property is managed by Hesperia Hotels & Resorts.
Hyatt Regency Hesperia Madrid, located at Paseo de la Castellana, is one of Madrid’s most iconic avenues that aims at providing its unique services and revitalizing experiences to guests. Monica Friera, general manager of Hyatt Regency Hesperia Madrid, stated that “With Madrid being one of Spain’s most significant commercial centers, we are confident the Hyatt Regency brand is the perfect fit to cater to business travelers, providing personalized care to help enable meaningful connections.”
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 the Hyatt Regency brand 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 7.1% compared with the industry’s 13.6% rally.
Zacks Rank & Key Pick
Hyatt (H - Free Report) , which shares space with Intercontinental Hotels Group (IHG - Free Report) and Marriot Vacations Worldwide Corporation (VAC - Free Report) , carries Zacks Rank #3 (Hold).
A better-ranked stock in the same industry is Choice Hotels International, Inc. (CHH - Free Report) , carrying a Zacks Rank #2 (Buy), You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Choice Hotels surpassed the Zacks Consensus Estimate in three of the trailing four quarters, the average beat being of 7.6%.
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