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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Hyatt Hotels Corporation | NYSE:H | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.61 | -0.40% | 150.01 | 151.10 | 149.49 | 149.99 | 407,281 | 01:00:00 |
Growth in lifestyle and resort segments, and the new upper-midscale Hyatt Studios brand, further expands Hyatt’s footprint in new markets while deepening World of Hyatt member loyalty and attracting new guests
Hyatt Hotels Corporation (NYSE: H) highlighted today that its pipeline has grown by nearly 85 percent since 2017, reaching a record 129,000 rooms. This significant growth highlights the strong preference of hotel owners and the strength of the Hyatt brand. Hyatt’s commitment to creating the preferred portfolio for high-end guests has resulted in doubling luxury rooms, tripling resort rooms, and quintupling lifestyle rooms since 2017.
“Hyatt leading the industry in net rooms growth for seven years is a result of our unique approach to development," said Mark Hoplamazian, president and chief executive officer, Hyatt. "We strategically expand our portfolio of brands, intentionally selecting new and existing markets to enhance our network effect for owners and guests. Our commitment to thoughtful organic growth and strategic acquisitions amplifies our asset-light business model. Our goal is not to be the largest hospitality company, but the company most valued by colleagues, guests, and owners.”
Additionally, the award-winning World of Hyatt loyalty program has quadrupled its membership since 2017 and is up 22% as of the end of the first quarter of 2024 compared to the same period last year, reaching 46 million members globally. World of Hyatt also has 30 percent more members per hotel than its larger competitors.
Lifestyle brands fueling growth, introducing Hyatt to new markets and new guests
Consumers continue to prioritize discretionary spending on experiences with leisure travel demand remaining resilient. Lifestyle hotels create a holistic experience that excites the senses with food and beverage, art, music and programming that is constantly evolving, presenting an enticing proposition for consumers. Hyatt’s upcoming lifestyle property openings and rebrandings include:
Americas:
Europe, Africa and Middle East (EAME):
Asia Pacific (ASPAC):
Additionally in the Asia Pacific region, ATONA, the modern hot spring ryokan (Japanese-style inn) brand announced in 2022 under a joint venture between a Hyatt affiliate and Kiraku, is expected to open its first properties in 2026 across some of Japan’s top hot spring destinations and areas of natural beauty, including Yufu, Yakushima, and Hakone. ATONA is Hyatt’s first brand to originate from Japan and will offer sophisticated, worldly travelers a rich cultural experience connecting them to local Japanese communities.
Hyatt Studios brand accelerates growth with more than 250 deals and the groundbreaking of second location
The Hyatt Studios brand, Hyatt’s entry into the upper-midscale extended-stay segment, now has over 250 deals in various stages of negotiation, including with several owners who have either signed or are in negotiation to sign development rights agreements for five or more locations each. The brand just celebrated the second Hyatt Studios groundbreaking for a location in Huntsville, Alabama.
Setting the brand apart from its competition, each Hyatt Studios hotel will offer a best-in-class 24/7 marketplace, free high-speed internet and streaming, EV charging stations, and simplified technology that further enhances the brand’s efficient operating model.
With over 3,000 rooms in the pipeline, Hyatt Studios hotels represent several new submarkets for Hyatt. Since Hyatt’s last announcement in late-2023, Hyatt has executed agreements for the following deals:
Grand Hyatt is expected to expand by more than 10 locations over the next two years
Known for its world-class dining, luxurious spas, fitness centers, bold architecture and captivating settings for meetings and events, the Grand Hyatt brand creates exceptional experiences for all guests at the intersection of local culture and global business. Key rebrands and developments in priority markets across the globe include:
Rebrands & Renovations:
New Builds:
Hyatt’s Inclusive Collection creates more travel opportunities for leisure guests, groups, and World of Hyatt members in new markets
Hyatt’s Inclusive Collection delivers unparalleled experiences with the luxuries and conveniences offered by an all-inclusive. As of the end of Q1, Hyatt’s Inclusive Collection resorts grew to approximately 41,412 rooms across 124 properties, further enhancing Hyatt’s position as the world’s largest portfolio of luxury branded rooms in resort locations. With 10 distinct brands providing personalized hospitality through exceptional service, immersive dining, and more, the collection continues to expand in new and exciting destinations.
To learn more about Hyatt’s development projects, visit: https://www.hyatt.com/development/
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of March 31, 2024, the Company's portfolio included more than 1,300 hotels and all-inclusive properties in 78 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Vacation Club®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt®; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt®; and the Inclusive Collection, including Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith™, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.
Forward-Looking Statements
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about our plans, strategies, outlook, the number of properties we expect to open in the future and the expected timeline for such openings, the growth of the World of Hyatt loyalty program, pipeline growth and overall growth expectations for 2024 and beyond, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and pace of economic recovery following economic downturns; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group segments, as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geopolitical conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters, weather and climate-related events, such as earthquakes, tsunamis, tornadoes, hurricanes, droughts, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to successfully execute our strategy to expand our management and hotels services and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; our ability to maintain effective internal control over financial reporting and disclosure controls and procedures; declines in the value of our real estate assets; unforeseen terminations of our management and hotels services or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates, wages, and other operating costs; foreign exchange rate fluctuations or currency restructurings; risks associated with the introduction of new brand concepts, including lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and Unlimited Vacation Club paid membership program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; and violations of regulations or laws related to our franchising business and licensing businesses and our international operations; and other risks discussed in the Company's filings with the SEC, including our annual report on Form 10-K, which filings are available from the SEC. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We do not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240603027107/en/
Media Contact Rebecca Smith Rebecca.smith1@hyatt.com
Investor Relations Contact Tara Louise Atwood tara.atwood@hyatt.com
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