In a bid to maintain its position as the fastest-growing global hospitality company, Hyatt Hotels Corporation H has been strengthening its presence worldwide. Recently, the company announced that one of its affiliates inked a deal with UBM Development AG to develop Hyatt’s first Andaz brand property named Andaz Prague, in Czech Republic.
Notably, this 175-roomed hotel, situated at Senovazne Square, is in the close proximity to Prague’s world-famous Old Town. The property is slated to open in 2022.
Notably, the Andaz brand’s luxury hotel draws inspiration from Prague’s history and cultural traditions, and will mark the first luxury lifestyle hotels in the Czech Capital. “This city of Mozart, Mucha and Hrabal continues to inspire people to explore its rich offerings. With the addition of Andaz Prague, we are excited for Hyatt to have a brand presence in the three imperial cities of Europe – Vienna, Budapest and Prague – and grow our opportunities to cater to the luxury demand.” as stated by Takuya Aoyama, vice president development, Hyatt.
The management also stated that to meet the rising demand of such properties in Europe, the company has unveiled two new properties this year — Andaz Munich Schwabinger Tor and Andaz Vienna Am Belvedere, and will join Andaz London Liverpool Street and Andaz Amsterdam Prinsengracht.
Expansion to Spur Growth
Hyatt is also expanding its footprint into the diverse international markets including Asia Pacific, Europe, Africa, the Middle East and Latin America. As of Sep 30, 2019, the company's portfolio included more than 875 properties in 60 countries across six continents.
This apart, the company has announced further expansion plans in Australia, Brazil, Germany, the U.K., Indonesia, Japan, Mexico, Saudi Arabia, Singapore, Thailand, the Netherlands and others.
Meanwhile, the company’s new brand signings have consistently exceeded the openings globally. This trend is expected to continue in the current year and beyond. In 2018, Hyatt registered net room growth of 13.6% on a year-over-year basis. For 2019, it expects unit growth of roughly 7.25-7.75%, reflecting 80 new hotel openings.
In the past six months, shares of Hyatt have gained 11.9% compared with the industry’s 11.6% rally.
Zacks Rank & Stocks to Consider
Hyatt, which shares space with Marriott International, Inc. MAR, has a Zacks Rank #3 (Hold). Better-ranked stocks in the same space include GreenTree Hospitality Group Ltd. GHG and Civeo Corporation CVEO. While Green Tree sports a Zacks Rank #1 (Strong Buy), Civeo carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
GreenTree Hospitality Group has an impressive long-term earnings growth rate of 17.6%.
Civeo reported better-than-expected earnings in three of the trailing four quarters, with average being 42.5%.
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