Hyatt Sets Foot in Lucknow, Takes Hotel Count to 27 in India
Hyatt Hotels Corporation H, the widely recognized global hospitality company, recently announced the opening of a hotel in Lucknow, India — Hyatt Regency Lucknow. Notably, this is the 27th Hyatt hotel in the nation, expanding the company’s brand presence in South Asia.
Hyatt Regency Lucknow is developed in partnership with Chartered Hotels Private Limited, a subsidiary of Saraf Hotels Enterprise. In fact, it is the 11th Saraf-developed hotel in South Asia and the ninth in collaboration with Hyatt. Furthermore, Hyatt’s expansion strategies are in line with Chattered Hotels’ aim to develop full service hotels across every tier one and tier two cities in India for both business and leisure travelers.
Hyatt Regency Lucknow is suitably located in the corporate hub of Vibhuti Khand in close proximity to the High Court and public sector offices. It is also lesser than 16 miles away from the Chaudhary Charan Singh International Airport. Tourist attractions like Bara Imambara, La Martiniere College and Hazratganj Market make the hotel’s strategic location not only convenient for business travelers but also an ideal destination for leisure guests.
The 206-room hotel, including 19 suites, also features three restaurants offering a varied platter of local and international cuisines. Among the other amenities, guests put up at the Regency Club guestrooms and suites can avail private check-in and check-outs along with airport transfers.
It is to be noted that Hyatt is continuously coming up with innovative and exceptional personalized guest services to enhance guest experience and raise occupancy. Hyatt Regency Lucknow also offers high-end services like a swimming pool, fitness centre and a Spa that is slated for launch soon. Moreover, the property encompasses large meeting and event spaces.
Apart from differentiated guest services, Hyatt stands out for its strong global expansion strategies. In addition to domestic lands, the company is consistently trying to expand its presence in the Asia-Pacific, Europe, Africa, Middle East and Latin America regions. Expansion in these lucrative markets should help the company gain traction in the hospitality space.
Interestingly, the company has experienced net room growth between 6% and 7% in nine consecutive quarters. With roughly 60 hotel additions expected, 2017 is set be another year of record openings.
The company also aims to continue gaining market share globally on its distinguished brand presence. Shares of Hyatt have outperformed the industry year to date, gaining 6.1% as compared with the industry’s 2.4%.
Moreover, over the past month, current and next-year earnings estimates have gone up 10.2% and 6%, respectively, reflecting analyst optimism.
However, macroeconomic concerns like economic/political instability in international markets along with high fluctuations in exchange rate might spell trouble for Hyatt as well as most of the other hotel chains like Marriott International, Inc. MAR, Hilton Worldwide Holdings HLT and Wyndham Worldwide Corporation WYN.
Nevertheless, a strong developmental pipeline along with consistent brand establishment and expansion strategies should continue driving growth for this Zacks Rank #3 (Hold) company. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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