Hyatt Hotels Corporation H 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 in pipeline with an expected launch in May.
The company’s JdV by Hyatt portfolio banks on the vibrant nature of the independent hotels along with the locally-inspired experiences. The Anndore House comprises of 115-room boutique hotel, featuring decor and amenities reflecting the Toronto neighborhood. Meanwhile, enhancements for the 92-room Walper Hotel are underway with the likely reflection of the Ontario neighborhood.
With respect to the launch, Scott Richer, regional vice president of real estate and development, Hyatt, stated, “We are thrilled to introduce the JdV by Hyatt brand to Canada and expand our brand footprint in the Americas through two new hotels with The Anndore House and The Walper Hotel.”
Focus On Expansion
Hyatt aims to differentiate its brands from one another by providing distinct travel experiences. It is also consistently trying to expand presence worldwide and plans to expand 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 and boost business.
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.
So far this year, shares of the company have gained 12.6% compared with the industry’s 11.5% growth.
Hyatt — which shares space with Hilton Worldwide Holdings Inc. HLT, Choice Hotels International, Inc. CHH and Marriott Vacations Worldwide Corporation VAC in the Zacks Hotels and Motels industry — has a Zacks Rank #4 (Sell) at present.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Choice Hotels International, Inc. (CHH) : Free Stock Analysis Report
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