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Hyatt Hotels Corporation H recently announced that it is planning to expand its presence in Mexico with the opening of a brand-new all-in-one Hyatt Ziva in Mexico’s Riviera Cancun region. The resort is scheduled to open by the end of 2021.
The resort will cover an area more than 15,000 square feet, comprising 438 rooms. Being located between Playa del Carmen and Cancun Hotel Zone, the resort will be around half an hour away from Cancun International Airport and will be easily commutable for tourists.
Hyatt Ziva Riviera Cancun will offer a large range of facilities to guests, starting from locally authentic restaurants, multiple swimming pools, the Zen Spa, 12 indoor and eight outdoor treatment rooms and a fitness center. Moreover, the space will easily accommodate weddings, anniversary celebrations or any large meetings and events.
In this regard, Frank Lavey, Hyatt’s senior vice president of global operations, has stated, “We are thrilled to introduce the Hyatt Ziva brand to new guests and World of Hyatt members as we expand our brand footprint in the Americas through the addition of this new all-inclusive resort.”
Expansion Plans & Share Performance
Hyatt has been consistently trying to expand its presence worldwide in order to gain market share in the hospitality industry. Recently, the company announced a solid pipeline of developments that are likely to cater to the company’s intention of global market expansion.
The company is consistently focusing to build global existence and therefore has various expansion plans in the Asia Pacific, Europe, Africa, Middle East and Latin America. Apart from these, the company continues to expand in international markets like Australia, Brazil, Germany, the U.K., Indonesia, Japan, Mexico, Saudi Arabia, Singapore, Thailand, Netherlands South Korea, Canada and the Caribbean.
The launch of Hyatt Ziva Riviera Cancun will mark the sixth Hyatt Ziva resort in Mexico and the Caribbean region. Playa Hotels & Resorts will manage and operate the resort.
Coming to share performance, Hyatt has surged 48.6% in the past six months compared with the industry’s 42.3% rally. Also, earnings estimates for 2021 have moved up over the past seven days. The company has been benefiting from a differentiated brand portfolio, strong expansion plans and acquisition strategies.
Hyatt — which shares space with Hilton Worldwide Holdings Inc. HLT, Extended Stay America, Inc. STAY and Choice Hotels International, Inc. CHH in the Zacks Hotels and Motels industry — 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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Choice Hotels International, Inc. (CHH) : Free Stock Analysis Report
Hyatt Hotels Corporation (H) : Free Stock Analysis Report
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