Hyatt's (H) Regency Brand Expands Presence In Southern China
Zacks Investment Research | Jan 01, 2020 09:12PM ET
Hyatt Hotels Corporation (NYSE:H) has been strengthening worldwide presence in a bid to maintain its position as the fastest-growing global hospitality company. Recently, it announced the opening of Hyatt Regency Hengqin in Zhuhai, Guangdong Province, China. This new property will offer premium level of service to guests of Hengqin for the first time.
Notably, the 493-roomed property — located in Greater Bay Area of southern China — is in close proximity to the city’s attractions like Lionsgate Entertainment World, National Geographic Explorer, among others. Hyatt Regency Hengqin also offers guests an easy access to the Hong Kong – Zhuhai – Macau Bridge.
Expansion to Drive Growth
Recently, the company announced the opening of Hyatt Regency Grand Reserve Puerto Rico, which marks its first full-service hotel on the island. Also, it announced the opening of Hyatt Regency Portland that marks the company’s first full-service and convention center hotel in the city of Portland.
Hyatt is expanding presence in diverse international markets including Asia Pacific, Europe, Africa, the Middle East and Latin America. As of Sep 30, 2019, the company's portfolio included more than 875 properties in 60 countries across six continents.
It announced further expansion plans in Australia, Brazil, Germany, the U.K., Indonesia, Japan, Mexico, Saudi Arabia, Singapore, Thailand, the Netherlands and others. We believe that the execution of the same will help it to counter competition from the likes of Marriott (NASDAQ:MAR) and Choice Hotels International, Inc. (NYSE:CHH) .
Meanwhile, the company’s new brand signings have been consistently boosting presence globally. This trend is expected to continue in the current year and beyond. In 2018, Hyatt had registered net room growth of 13.6% on a year-over-year basis. For 2019, it expects unit growth of 7.25-7.75% and 85 new hotel openings.
Hyatt currently carries a Zacks Rank #3 (Hold). In the past six months, shares of the company have gained 15% compared with the Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.