Hyatt Hotels Corporation (H - Free Report) announced the opening of the 100th Hyatt House hotel: Hyatt House San Jose Airport. The 165-room Hyatt House San Jose Airport is jointly owned by Liberty Group and Hyatt Hotels.
The hotel is in close proximity to California’s Great America amusement park, Levi’s Stadium, San Jose McEnery Convention Center, Avaya Stadium and SAP Center at San Jose. Paul Daly, senior vice president of operations, Americas, Hyatt Place and Hyatt House, said “The opening of this hotel comes at a time of strong momentum for the brand, with Hyatt House hotels under development around the world, including new markets for the brand, such as Canada and Kenya.”
It is to be noted that Hyatt is consistently trying to strengthen its foothold in the United States and the international markets. Backed by its expansion strategy, the company’s shares have gained 13.6% in the past six months compared with the industry’s growth of 5.9%.
Expansion to Counter Stiff Competition
Hyatt, which shares space with Hilton Worldwide Holdings Inc. (HLT - Free Report) , Marriott International, Inc. (MAR - Free Report) and Marriott Vacations Worldwide Corporation (VAC - Free Report) , operates in an intensely competitive market. In an effort to counter competition, the company continues to expand its presence domestically and internationally.
The company has expansion plans in the Asia Pacific, Europe, Africa, Middle East and Latin America. This should help the company gain market share in the hospitality industry, thereby boosting the business. Thus, an essential aspect of the company’s compelling growth potential is its strong brand presence and continual expansion in high-growth and under-penetrated markets such as India and China.
Apart from these, the company has announced further expansion plans in diverse international markets like Australia, Brazil, Germany, the U.K., Indonesia, Japan, Mexico, Saudi Arabia, Singapore, Thailand, Netherlands and others. Meanwhile, its new signings across its brands globally have consistently outpaced openings. This trend is expected to continue in 2020 and beyond.
Hyatt currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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