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Hyatt (H) to Open Nearly 200 Hotels in Americas by 2022
Hyatt Hotels Corporation (H - Free Report) has been strengthening its presence worldwide in a bid to maintain position as the fastest-growing global hospitality company. To this end, recently the company announced that it plans to expand its America’s brand pipeline by 2022.
Notably, the company anticipates to open over 50 full service and select service hotels in 2020 and add more than 140 properties to its pipeline by 2022. Hyatt’s regional brand hotels are expected to grow by 33 percent by 2022.
The Chicago-based hotel company is also confident about the success of its new properties in America due to strong demand in regional markets like California, Texas, New York, Canada and Mexico. Hyatt is optimistic about its new brands like Alila, Destination Hotels, Joie de Vivre, and Thompson Hotels.
"Hyatt remains focused on thoughtfully growing our full service and select service portfolio of brands in the Americas region – and growing and running our core hotel business: the development, management and franchising of full service and select service hotels, while being best-in-class," as stated by Pete Sears, Americas group president, Hyatt.
Expansion to Spur Growth
Hyatt, which shares space with Hilton Worldwide Holdings Inc. (HLT - Free Report) , Choice Hotels International, Inc. (CHH - 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.
Recently, the company announced the opening of its second branded hotel in Virginia, Hyatt Centric Old Town Alexandria.
Hyatt also has expansion plans in the Asia Pacific, Europe, Africa, Middle East and Latin America. It also looks forward to expand in diverse international markets like Australia, Brazil, Germany, the U.K., Indonesia, Japan, Mexico, Saudi Arabia, Singapore, Thailand, the Netherlands and others. This should help it gain market share in the hospitality industry, thereby boosting the business.
Meanwhile, Hyatt’s new signings across its brands globally have consistently outpaced openings. This trend is expected to continue in 2020 and beyond.
Driven by an expanding global brand presence, shares of Hyatt have outperformed the industry in the past six months. The stock has increased 23.4% compared with the industry’s 20.3% growth in the same time frame.
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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