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Hyatt Hotels Corporation H continues to expand presence globally. The company recently announced the opening of Andaz Bali, its first Andaz resort in Asia. Notably, Andaz Bali is located in Sanur, a picturesque seaside village.
Andaz Bali is 22-minute drive from Ngurah Rai International Airport, Sanur. Andaz Bali has 149 guestrooms, which includes 18 Garden Villas and four Beach Villas. David Udell, group president, Asia-Pacific, Hyatt said “Andaz Bali is our first Andaz resort in Asia, adding to the brand’s growing urban portfolio in the region which includes Seoul, Shanghai, Shenzhen, Singapore, Tokyo and Xiamen.”
Global Expansion to Offset Competition
Hyatt aims to differentiate its brands from one another by providing distinct travel experiences. The company is also consistently trying to strengthen presence worldwide and has expansion plans in the Asia-Pacific, Europe, Africa, the Middle East and Latin America.
It also recently announced the addition of The Anndore House to its JdV by Hyatt portfolio in Toronto. Notably, this marks the brands first hotel in Canada. Moreover, the company noted that the joining of The Walper Hotel is on track with an expected launch in May.
Going Forward, the company’s JdV by Hyatt brand expects to open El Capitan Hotel in Merced, CA; Mission Pacific Hotel in Oceanside, CA; Story Hotel Riddargatan and Story Hotel Signalfabriken in Stockholm as well as Story Hotel Studio Malmo in Malmo, Sweden.
We believe this will help the company to counter competition from the likes of Marriott International, Inc. MAR, Hilton Worldwide Holdings Inc. HLT and Choice Hotels International, Inc. CHH. A glimpse of the company’s price trend reveals that it has outperformed the industry in the past six months. Shares of Hyatt have gained 52%, compared with the industry’s growth of 38.9%.
Hyatt currently carries 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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Marriott International, Inc. (MAR) : Free Stock Analysis Report
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