Hyatt (H) Opens Pacific Northwest’s Largest Hotel in Seattle
The U.S. hotel industry has been benefiting from several factors like a strong economy, higher income, increased consumer confidence and a solid labor market. As people are steadfast on spending time with loved ones and keep looking for unique experiences at all price points, the companies in this space believe that the diverse portfolio of offerings will continue to meet the growing demand.
Leading hotelier, Hyatt Hotels Corporation H is also undertaking various steps to cash in on this opportunity. Recently, the company announced the opening of Hyatt Regency Seattle, which is the largest hotel in the Pacific Northwest.
The 1,260-roomed hotel encompasses 103,000-square-feet of floor-to-ceiling windows, StayFit Fitness Center, 65-inch TVs and Technogym state-of-the-art cardio and strength equipment, among other amenities.
Backed by consistent efforts toward expanding its brands globally, Hyatt is gaining market share in the hospitality industry. Additionally, Hyatt’s aim to differentiate its brands from one another by providing distinct travel experiences lends it a competitive edge.
Hyatt also has expansion plans in diverse international markets, including Australia, Brazil, Germany, Indonesia and others. Internationally, the company’s new signings across its brands have consistently outpaced its hotel openings, and this trend is expected to continue in 2018.
During third-quarter 2018, Hyatt registered net room growth of 7.6% on a year-over-year basis, which marked the 14th successive quarter of growth above 6%. Also, the company’s development pipeline grew roughly 6% from the figure registered a year ago. For 2018, it expects to grow units by 6.5-7% (on a net room basis), reflecting 60 hotel openings.
Hyatt, which shares space with Extended Stay America, Inc. STAY and Hilton Worldwide Holdings Inc. HLT, carries a Zacks Rank #2 (Buy). In a year’s time, shares of Hyatt have lost 2.1% compared with the industry’s 20.6% decline.
A top-ranked stock worth considering in the same space is Belmond Ltd. BEL, which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Belmond has an impressive long-term earnings growth rate of 15%.
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Extended Stay America, Inc. (STAY): Free Stock Analysis Report
Hyatt Hotels Corporation (H): Free Stock Analysis Report
Belmond Ltd. (BEL): Free Stock Analysis Report
Hilton Worldwide Holdings Inc. (HLT): Free Stock Analysis Report
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