Hyatt Hotels Corporation H, the widely recognized global hospitality company, recently announced plans to mark the debut of its Park Hyatt brand in Mexico with two new hotels in Los Cabos and Mexico City.
Park Hyatt Los Cabos will be located in a 26-acre site within Cabo del Sol, a master-planned golf resort community. The hotel is anticipated to open in late 2020 and will be featuring 162 guestrooms and 28 Park Hyatt Residences.
Meanwhile, Park Hyatt Mexico City will be featuring 155 guestrooms and 23-unit Park Hyatt Residences and is slated to developed via a joint venture agreement with Grupo Sordo Madaleno. The hotel is expected to open in early 2021 and will be part of a mixed use development in the heart of the stylish Polanco neighborhood.
Park Hyatt Mexico City will be situated on the upscale Campos Eliseos Street overlooking the iconic Chapultepec Park with many of Mexico City’s leading cultural and amusement attractions within a short distance.
We note that the Park Hyatt brand provides refined, affluent business and leisure guests with stylish and luxurious accommodations as well as extremely attentive personalized service. In sync with this, the two new high-end properties intend to meet the needs of the discerning global traveler, thus joining the brand’s global portfolio of 40 hotels in various locations such as Bangkok, Paris, Tokyo, Vienna, Milan, Zurich as well as two sister hotels in Latin America, Palacio Duhau-Park Hyatt Buenos Aires and Park Hyatt Mendoza.
Meanwhile, it is to be noted that in addition to domestic lands, Hyatt is also consistently trying to expand its presence worldwide and has expansion plans for Asia-Pacific, Europe, Africa, Middle East and Latin America. Expansion in these lucrative markets should help the company gain market share in the hospitality industry, thus boosting its business.
Interestingly, the company has experienced net room growth between 6% and 7% over nine consecutive quarters. With roughly 60 hotel additions expected, 2017 is set be another year of record openings.
Going forward, the company aims to continue gaining market share globally on its solid brand portfolio, and innovative and exceptional personalized service to guests. Hyatt is thus continuously devising new plans to enhance guest experience and raise occupancy in order to survive in a tough economic environment. In this regard, its remodeled loyalty program, particularly bodes well. Additionally, the company intends to continue exploring new avenues apart from traditional hotels in order to evolve with changing tastes and preferences of guests.
However, lingering political uncertainties in key international markets along with currency headwinds remain concerns for Hyatt as well as most of the other hotel chains including Marriott International, Inc. MAR, Hilton Worldwide Holdings HLT and Wyndham Worldwide Corporation WYN.
Nevertheless, a strong developmental pipeline along with consistent brand establishment and expansion strategies should continue driving growth for the company.
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