Chicago, Ill.-based leading global hotel chain, Hyatt Hotels Corporation (H) recently unveiled a Hyatt Place branded (upscale, select-service, contemporary lifestyle hotel brand for modern travelers) property in Pensacola, Fla. in association with Innisfree Hotels. Christened Hyatt Place Pensacola Airport, the new property is the first Hyatt Place branded property in Pensacola.
Ideally situated at the Pensacola Airport, Hyatt Place Pensacola Airport is near to the Pensacola Beach and Gulf Islands National Seashore. We expect the strategic position, wide range of amenities offered at the 127-room hotel and its contemporary ambience to create a strong guest base, going ahead.
Hyatt set a trend in hotel designs with Hyatt Place, which spread its operations globally with 184 hotels since its launch in Jun 2006. In its 7-year long journey, Hyatt Place has gained immensely from its affordable pricing and guest satisfaction scores, reflecting the brand’s strength and growing popularity. Hyatt already owns and operates 17 other Hyatt Place branded properties in the State of Florida.
With improving economic condition, the hotel industry seems to be gearing up in the U.S. With lower supply in the U.S., RevPAR is improving on strong demand and continued higher pricing. In order to capture such growing opportunity, Hyatt is consistently trying to expand its coverage in the U.S. As of now, Hyatt owns as many as 387 properties exclusively in the U.S.
Several other hoteliers including Intercontinental Hotels Group plc (IHG) and Starwood Hotels & Resorts Worldwide Inc. (HOT) have introduced similar contemporary lifestyle brand concepts like Hyatt Place. These brands are Hotel Indigo and Aloft by Intercontinental Hotels and Starwood, respectively.
Starwood currently carries a Zacks Rank #3 (Hold). Another hotel stock worth looking into is Choice Hotels International Inc. (CHH), which carries a Zacks Rank #2 (Buy).
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