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Hyatt Hotels Corporation H is planning to expand its presence in India, which is one of the major markets for the company. Hyatt intends to increase its presence in India by more than 70% by 2023. The company is likely to have more than 50 Hyatt-branded hotels in India by the end of 2023.
The company stated that it will add more than 3,600 keys to its current portfolio of 32 Hyatt-branded hotels across eight distinct brands in India, which includes the Andaz, Alila, Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt, Hyatt Centric and Hyatt Place brands.
The company is very optimistic about the success in the country owing to increasing demand from guests, World of Hyatt members, customers and owners. Dhruva Rathore, Hyatt’s vice president real estate & development, India, stated, "Hyatt’s pipeline in India reflects a thoughtful growth strategy by expanding into new markets and leisure destinations that are relevant to our guests and customers. We are thrilled to collaborate with a number of new and existing owners to bring these exciting projects to fruition.”
Hyatt Regency & Hyatt Place Brands Major Growth Driver in India
In 2021, the company is planning to expand its Hyatt Regency and Hyatt Place brands. The Hyatt Regency brand will enter two new markets with Hyatt Regency Jaipur Mansoravar, and Hyatt Regency Trivandrum, whereas The Hyatt Place brand will open Hyatt Place Bodh Gaya, Hyatt Place Jaipur Malviya Nagar, Hyatt Place Vadodara and Hyatt Place Bharuch. Both Hyatt Place and Hyatt Regency brands are major growth driver in India. Approximately 20 hotels under both the brands are likely to open across India by 2023.
Meanwhile, the company is likely to open Grand Hyatt Gurgaon, Grand Hyatt Jaipur, Hyatt Centric Sector 17 Chandigarh, Hyatt Centric Lonavala and Hyatt Centric Electronic City Bangalore.
Hyatt is consistently trying to expand its presence worldwide and has expansion plans in Asia-Pacific, Europe, Africa, Middle East and Latin America. Expansion in these markets will likely help the company gain market share in the hospitality industry, thus boosting business. Thus, an essential aspect of the company’s riveting growth potential is its strong brand presence and continual expansion in higher growth and under-penetrated markets such as India and China.
Price Performance & Zacks Rank
A glimpse at the company’s price trend reveals that it has outperformed the industry in the past six months. Shares of Hyatt have gained 55.3% compared with the industry’s 44.1% growth.
Hyatt — which share space with Marriott Vacations Worldwide Corporation VAC, Marriott International, Inc. MAR and Hilton Worldwide Holdings Inc. HLT in the Zacks Hotels and Motels industry — currently carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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