Strategic growth highlighted by airport hotel
expansion, investments in portfolio-wide Hyatt Place renovations by
Service Properties Trust, and preview of the Hyatt Studios brand at
The Lodging Conference
Hyatt Hotels Corporation (NYSE: H) announced today the continued
strategic growth of the Hyatt Place and Hyatt House brands
throughout 2023. This growth includes expanding the brand’s
footprint in the U.S. in new markets where there are no Hyatt
hotels and the thoughtful expansion of airport locations in key
markets.
Today’s news comes on the heels of Hyatt announcing significant
progress in the development of the Hyatt Studios brand, the latest
select service brand in the Hyatt portfolio, including executed
franchise agreements for the first locations in Mobile, Ala. and
Marysville, Calif., emphasizing Hyatt’s strategy of adding hotels
in untapped markets where its brand presence is yet to be
established; groundbreaking for the Mobile, Ala. location is slated
for Q4 2023.
“As part of Hyatt’s commitment to listen to our owners and take
action on their feedback, Hyatt continues to identify white space
in sought-after markets,” said Jim Tierney, senior vice president,
development and owner relations, Hyatt. “Based on our intentional
growth strategy, we focus on growing in new markets and expanding
our base with new developers and owners without creating
intra-brand competition.”
Hyatt’s pipeline of select service brands is the fastest growing
segment of Hyatt’s portfolio in the U.S., as Hyatt continues to
lead the industry on a global scale with six years of industry
leading net rooms growth. In 2023, as part of the Hyatt Place and
Hyatt House brands expansion in the U.S., Hyatt will welcome 14 new
owners to the Hyatt family and expand existing Hyatt portfolios for
five owners. This underscores Hyatt’s focus on delivering value and
ensuring a strong return on investment across all Hyatt hotels.
By the end of 2023, Hyatt expects to have an established hotel
presence in U.S. markets that currently do not have a Hyatt hotel
located within five miles, including:
- Hyatt Place Albany (N.Y.)
- Hyatt Place Flagstaff (Ariz.)
- Hyatt Place Munster (Ind.)
- Hyatt Place Newark / Main Street (Del.)
- Hyatt Place St. Augustine / Vilano Beach (Fla.)
Additional growth for the company includes the entry of the
Hyatt House brand in the following markets:
- Hyatt House Bentonville / Rogers (Ark.)
- Hyatt House Colorado Springs Airport (Colo.)
- Hyatt House Lansing / University Area Lansing (Mich.)
- Hyatt House Mall of America / MSP Airport (Minn.)
- Hyatt House Vacaville (Calif.)
Airport Locations are a Brand Strength
for Hyatt When Jay Pritzker founded Hyatt in 1957 with
the purchase of the Hyatt House motel adjacent to Los Angeles
International Airport, Hyatt established its reputation as a
trusted, sought-after brand for travelers.
Throughout 2023, Hyatt has continued to expand on its origin
story by increasing its brand footprint at airports across the U.S.
with elevated experiences including free breakfast for guests and
delivering enhanced in-room amenities that are attractive to both
leisure and business travelers, at the following locations in
addition to the above:
- Hyatt House Orlando Airport (Fla.)
- Hyatt House Sacramento Airport / Natomas (Calif.)
- Hyatt Place Melbourne Airport (Fla.)
- Hyatt Place Sacramento International Airport (Calif.)
Ongoing Commitment to Brand Excellence
and Guest Satisfaction All Hyatt hotels aim to provide
the highest standard of quality to guests, customers and World of
Hyatt members, which includes brand-specific renovation cycles and
brand refreshes.
One of the many examples of upcoming property renovations
includes 17 Hyatt Place hotels under Service Properties Trust (SVC)
ownership group, slated to begin later this year. A sampling of SVC
properties that will undergo renovations include Hyatt Place
Atlanta/Cobb Galleria (Ga.), Hyatt Place Charlotte Airport/Lake
Pointe (N.C.) and Hyatt Place Tempe/Phoenix Airport (Ariz.) each
aligned to deliver an elevated, spacious, and perfectly
self-sufficient stay experience.
“At Hyatt, we work with owners and franchise operators who share
our dedication to operational excellence and our purpose of care,”
said Paul Devitt, senior vice president of operations, Hyatt.
“We’re privileged to have SVC as part of the Hyatt family and look
forward to supporting their upcoming renovations that will bring
enhanced experiences for our guests and World of Hyatt
members.”
As a key component of the Hyatt House brand refresh, which
launched in late 2022 with an updated brand identity and media
campaign, “Home is Where…,” the next generation of Hyatt House
guestrooms will feature residential-inspired room elements such as
a modern media console, hard surface flooring, rounded-edge
well-lit vanity mirror, vinyl task chairs, updated kitchen island
for dining as well as working, oversized ottoman and more. The new
design is intended to help guests maintain their routine and enjoy
the comforts of home when they are away from theirs. Stemming from
guest feedback, the new room design aims to meet and exceed guests’
evolving lifestyles and hybrid work models, while upholding the
living accommodations travelers have enjoyed in the past, including
a cozy living room, a well-equipped kitchen, spacious bedroom, a
full closet and a well-appointed bathroom.
Introducing Hyatt Studios at The
Lodging Conference Hyatt recently announced the first
two locations for the Hyatt Studios brand, Hyatt’s new
upper-midscale, extended-stay brand, in Mobile, Ala., and
Marysville, Calif. The Hyatt Studios brand is expected to be a key
accelerator for Hyatt. The Mobile, Ala. location is slated to have
its groundbreaking in Q4 2023 and welcome guests and World of Hyatt
members in 2024.
On September 19, 2023, owners, developers and industry media can
experience an exclusive introduction to the Hyatt Studios brand in
Phoenix, Ariz. at The Lodging Conference. Attendees will enjoy an
evening of branded activations and regionally inspired cocktails
and bites, while experiencing a look at the latest design concepts
and meeting the team behind the Hyatt Studios brand.
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 Place Hyatt
Place hotels combine style, innovation and 24/7 conveniences to
create an easy to navigate experience for today’s multi-tasking
traveler. Guests can enjoy thoughtfully designed guestrooms
featuring distinct zones for sleep, work and play, and free flowing
social spaces that offer seamless transitions from work to
relaxation. With more than 415 locations globally, Hyatt Place
hotels offer freshly prepared food around the clock, efficient
service and differentiated experiences for World of Hyatt members.
For more information, please visit hyattplace.com. Join the
conversation on Facebook and Instagram, and tag photos with
#HyattPlace and #WhySettle.
About Hyatt House Hyatt
House hotels are designed to welcome guests seeking spacious and
well-equipped living accommodations with everything they need and
more for short- or long-term stays. At more than 130 locations
worldwide, the Hyatt House brand delivers home-like amenities,
purposeful service, and contemporary spaces, including
complimentary home-cooked breakfast for guests, a creatively
curated menu at H Bar; and indoor and outdoor communal spaces for
working, socializing, or relaxing.
For more information, please visit hyatthouse.com. Join the
conversation on Facebook or Instagram and tag photos
#HomeIsWhere
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 June
30, 2023, the Company’s portfolio included more than 1,250 hotels
and all-inclusive properties in 76 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. 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 the 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 geo-political 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; the pace and
consistency of recovery following the COVID-19 pandemic and the
long-term effects of the pandemic, additional resurgence, or
COVID-19 variants, including with respect to global and regional
economic activity, travel limitations or bans, the demand for
travel, transient and group business, and levels of consumer
confidence; the ability of third-party owners, franchisees, or
hospitality venture partners to successfully navigate the impacts
of the COVID-19 pandemic, any additional resurgence, or COVID-19
variants or other pandemics, epidemics or other health crises; 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 property 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, including with respect to
our acquisition of Apple Leisure Group and Dream Hotel Group and
the successful integration of each business; failure to
successfully complete proposed transactions (including the failure
to satisfy closing conditions or obtain required approvals); our
ability to successfully execute on our strategy to expand our
management and franchising business while at the same time reducing
our real estate asset base within targeted timeframes and at
expected values; declines in the value of our real estate assets;
unforeseen terminations of our management 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, including as a result
of the COVID-19 pandemic, 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 U.S. Securities
and Exchange Commission (“SEC”), including our annual report on
Form 10-K and our Quarterly Reports on Form 10-Q, which filings are
available from the SEC. These factors are not necessarily all of
the important factors that could cause our actual results,
performance or achievements to differ materially from those
expressed in or implied by any of our forward-looking statements.
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 undertake no 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/20230914663959/en/
MEDIA CONTACT: Dana Fioravanti Hyatt
dana.fioravanti@hyatt.com
INVESTOR RELATIONS CONTACT: Adam Rohman Hyatt
adam.rohman@hyatt.com
Hyatt Hotels (NYSE:H)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Hyatt Hotels (NYSE:H)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024