Hyatt Hotels Corporation (NYSE:H) continues to strengthen its presence worldwide. Recently, it announced the opening of Hyatt Place Waco-South. This will be the company’s first Hyatt-branded hotel in Waco, TX.
Notably, the 96-roomed property is situated adjacent to the Brazos River and provides guests easy access to the city’s attractions like Magnolia Market at The Silos, Texas Ranger Hall of Fame and Museum, Cameron Park Zoo, Hawaiian Falls Waco Waterpark and Cottonwood Creek Golf Course. It is also in close proximity to Central Texas Marketplace, just off highway I-35.
Expansion to Drive Growth
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.
Recently, the company announced the opening of Hyatt Regency Thrissur. This marks its second Hyatt branded hotel in Kerala and the 13th Hyatt Regency branded hotel in India.
The company has announced further expansion plans in Australia, Brazil, Germany, the U.K., Indonesia, Japan, Mexico, Saudi Arabia, Singapore, Thailand, the Netherlands and others. We believe this will help it to counter competition from the likes of Marriott International, Inc. (NASDAQ:MAR) , Choice Hotels International, Inc. (NYSE:CHH) and Hilton (NYSE:H) .
Meanwhile, the company’s new brand signings have consistently boosted its presence globally. This trend is expected to continue in the current year and beyond. In 2018, Hyatt registered net room growth of 13.6% on a year-over-year basis. For 2019, it expects unit growth of 7.25-7.75%, suggesting 85 new hotel openings.
Hyatt currently carries a Zacks Rank #3 (Hold). Shares of Hyatt have gained 28.5% over the past year compared with its industry’s 28.2% growth.
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Choice Hotels International, Inc. (CHH): Free Stock Analysis Report
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