Tag: Hyatt

Hang Lung Collaborates with Hyatt to Open New Luxury Grand Hyatt Hotel in Kunming

HONG KONG, Nov. 30, 2020 /PRNewswire/ — Hang Lung Properties today announced that Grand Hyatt, a luxury hotel brand under Hyatt, has been appointed to operate the Company’s new luxury hotel in Kunming, Yunnan’s capital city in Southwest China. The new Grand Hyatt Kunming hotel is scheduled to open in mid-2023.

Mr. Weber Lo, Chief Executive Officer of Hang Lung Properties (left), and Mr. David Udell, Group President, Asia Pacific, Hyatt Hotels Corporation (right), ink partnership between Hang Lung and Hyatt to open Grand Hyatt Kunming at Spring City 66 in the capital and the largest city of Yunnan province in mainland China.

 

(From left to right) Mr. Norman Chan, Executive Director of Hang Lung Properties, Mr. Weber Lo, Chief Executive Officer of Hang Lung Properties, Mr. David Udell, Group President, Asia Pacific, Hyatt Hotels Corporation and Mr. Stephen Ho, President, Growth and Operations, Asia Pacific, Hyatt Hotels Corporation, at the contract signing ceremony to announce the opening of Grand Hyatt Kunming at Spring City 66 in Kunming in mid-2023.

 

Grand Hyatt Kunming, with a gross floor area of 49,560 square meters, will occupy the first 26 floors of the hotel and residential tower (right). The hotel will become a prestigious addition to Hang Lung’s mixed-use Spring City 66 development in Kunming. (Remarks: the photo is an artist’s impression for reference only)

 

Opening in mid-2023, Grand Hyatt Kunming will feature 332 guestrooms and suites, state-of-the art amenities and extraordinary dining options. It will cater to the most discerning corporate business and leisure travelers and be a social hub for the local community. (Remarks: the photo is an artist’s impression for reference only)

Grand Hyatt Kunming will become part of the mixed-use Spring City 66 development in the heart of Kunming that comprises a world-class shopping mall, a 66-story Grade A office tower, and luxury branded residences. Featuring 332 guestrooms and suites, state-of-the art amenities and extraordinary dining varieties, the hotel will cater to the most discerning corporate business and leisure travelers and be a social hub for the local community.

At today’s contract signing ceremony, Mr. Weber Lo, Chief Executive Officer of Hang Lung Properties, said, “We are excited to collaborate with Hyatt to introduce the world-renowned Grand Hyatt brand to Kunming. Grand Hyatt Kunming will be a magnificent addition to our landmark commercial development Spring City 66. Just one year since it opened, Spring City 66 has already brought together about 300 top international and local retail, dining, lifestyle and entertainment brands. Sealing the collaboration with Hyatt also marks a key milestone in the business development of our parent company, Hang Lung Group, which celebrates 60 years of establishment this year.”

“Grand Hyatt Kunming will further strengthen our luxury positioning and deliver on our promise to ‘Bring the best to Kunming; Showcase the Best of Kunming to the World’. We will continue to add value to the city by introducing even more globally renowned brands to Spring City 66, as part of our continuous effort to excite our customers and exceed their expectations.”

Mr. David Udell, Group President, Asia Pacific, Hyatt Hotels Corporation, said, “We are delighted to collaborate with Hang Lung Properties, who share our value on delivering high-end experiences and operational excellence. As the province’s capital and the largest city in Yunnan, Kunming serves as a gateway to South and Southeast Asia. With the new additional of Grand Hyatt Kunming, guests from across China and the world will be able to enjoy truly extraordinary moments for which the Grand Hyatt brand is known, while indulging themselves in the spring-like climate all year round, the extraordinary landscape, rich historical and cultural heritage that Kunming could offer. Grand Hyatt Kunming’s contemporary design, thoughtful and intuitive service, as well as its strategic location within the city as part of Spring City 66, will be an asset to Kunming and is set to become a regional icon for local and international guests.”

Grand Hyatt Kunming, with a gross floor area of 49,560 square meters, will occupy the first 26 floors of the hotel and residential tower, the top section of which will feature Hang Lung’s first luxury branded residences project. Details of the residences will be announced soon.  

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and

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Hyatt (H) Expands in Florida With New Destination Hotel

In a bid to strengthen its portfolio in Florida, Hyatt Hotels Corporation’s H affiliate recently entered into a franchise agreement with Banyan Cay Development to develop Banyan Cay Resort & Golf. Processed under Hyatt’s Destination Hotels brand, the company expects to open the property by late 2021.

Located near the West Palm Beach International Airport, the hotel comprises 150 guestrooms and 22 private resort villas. The private villa comes with bell service, daily housekeeping, room service, private kitchens along with living and dining areas.

Meanwhile, David Tarr, senior vice president, development, Americas, Hyatt, stated, “At Hyatt, we prioritize thoughtful growth in locations that matter most to our guests, World of Hyatt members and customers, and we are excited to introduce Hyatt’s high-quality and distinct experiences to West Palm Beach.”

Increased Focus on Expansion

Hyatt has been witnessing a rise in demand for some of its drive-to resorts and leisure destinations, such as Lake Tahoe, NV; Lost Pines outside of Austin, TX; and Huntington Beach, CA. Also, it has been consistently trying to expand its presence worldwide in order to gain market share in the hospitality industry.

During the third quarter of 2020, the company announced the opening of 18 Hyatt Place or Hyatt House hotels. Meanwhile, the company re-entered the New Zealand market with the opening of Park Hyatt Auckland. Also, it unveiled Andaz Xiamen, marking the second Andaz hotel in China. In October, the company opened Hyatt Centric Center City Philadelphia, Grand Hyatt Nashville and Hyatt Regency West Hanoi.

Notably, the company opened more than 4,300 rooms during the third quarter, reflecting an increase of 10% year over year. Furthermore, it remains optimistic about full-service growth opportunities, comprising both newbuilds and conversions globally.

So far this year, shares of the company have plummeted 21.8% compared with the industry’s decline of 11.9%.

Hyatt — which shares space with Hilton Worldwide Holdings Inc. HLT, Choice Hotels International, Inc. CHH and Marriott Vacations Worldwide Corporation VAC in the Zacks Hotels and Motels industry — has a Zacks Rank #4 (Sell), at present.

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Choice Hotels International, Inc. (CHH): Free Stock Analysis Report
 
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Extended Stay Hotel Market to Eyewitness Massive Growth by 2026 | Hilton Worldwide, Hyatt Hotel, Choice Hotels International

The MarketWatch News Department was not involved in the creation of this content.

Nov 10, 2020 (Heraldkeepers) —
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Market Segments: The Global Extended Stay Hotel Market has been divided into type, application, and region.

On The Basis Of Type: , Economic Type Extended Stay Hotel, Middle Type Extended Stay Hotel & Luxury Type Extended Stay Hotel.
On The Basis Of Application: Travelers, Business Customers, Trainers and Trainees, Government and Army Staff & Others

On The basis of region, the Extended Stay Hotel is segmented into countries, with production, consumption,

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Satya Inc. Breaks Ground On New Hyatt Hotel In Texas Medical Center

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Courtesy of Satya Inc.

A rendering of the Hyatt Texas Medical Center

Satya Inc. has broken ground on a 350K SF new hotel development in the Texas Medical Center that will be Houston’s first Hyatt dual-branded property in one tower.

The 14-story tower will contain 159 rooms under the Hyatt Place flag, the company’s mid-tier hotel product. In addition, the tower will have 139 rooms under Hyatt House, an extended-stay hotel product.

Satya Inc. CEO Sunny Bathija told Bisnow the hotel project broke ground on Oct. 26 and should take between 20 and 22 months to complete construction, with the goal of opening by Thanksgiving 2022. The price tag for the development is in excess of $70M, Bathija said.

“This project has been in the works for the last two, three years. We’d acquired the land some time back, and we got hired to sign the franchise,” Bathija said.

The tower will be at the corner of Old Spanish Trail and Fannin Street in the Texas Medical Center, and it falls within a qualified opportunity zone, according to Satya.

Amenities will include a hotel dining area open 24 hours, a full-service restaurant and lobby café, two property bars, a lobby workstation and a more than 300-car parking garage. The seventh floor will offer an amenity deck featuring 3.5K SF of meeting space, an outdoor pool overlooking the Houston skyline, a 24-hour fitness center and a guest laundry room.

Satya owns two hotels in Houston: Tru by Hilton in Cypress and La Quinta in Spring. When the coronavirus pandemic first struck, occupancies at those hotels fell to less than 10%, but as of October, had recovered to about 50%, Bathija said.

The combination of a long lead time for the project and the construction phase means that the opening of the new dual-brand Hyatt tower should avoid the majority of pandemic-related disruption, he added.

“We are seeing a rise in the occupancy and we are not worried about two years later, because by then the vaccines will be out,” Bathija said. “There’s something terribly wrong if we’re not OK by 2022.”

Houston’s average hotel occupancy rate fell to 24.8% during April, before recovering to 46.9% in September, according to STR data. Some of that recovery is being driven by weekend leisure travelers, who are opting to take vacations a little closer to home. However, it could take until 2024 for hotel revenues across the U.S. to return to normal, according to STR’s forecast.

Bathija said that unlike other submarkets in Houston, hotels in the Texas Medical Center cater to a very specific clientele: patients and their families seeking medical treatment. For that reason, occupancy is unlikely to be greatly affected by future disruptions to tourism. But being only 6 miles from Downtown Houston means the hotel could still cater to those visitors.

“We’re hoping to get a lot of clientele from even the downtown [area] and the sports venues, once the sports come back,” Bathija said.

Satya is the owner and

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Column: Iconic Hyatt hotel gets new trendy look

When the Hyatt Regency La Jolla at Aventine opened more than three decades ago, it quickly became an iconic building anchoring the west end of the La Jolla Village Drive UTC community corridor between I-5 and I-805.

Its design incorporated symbolism of ancient Rome with its coliseum-like health spa rotunda, statuary, columns and extensive use of marble. Rome was erected on seven hills — one was named Aventine.

Developer Jack Naiman held a competition between two highly regarded architects, I. M. Pei and Michael Graves. He chose the design by Graves, a giant in the postmodern design movement and a professor of architecture at Princeton.

Every aspect of the building, including its interior built-ins, furniture, light fixtures, wallpaper, fabrics and flooring were designed by Graves.

The exterior paint, in earthy shades of terracotta and ochre, set a tone for future development in the community, says Scott Pedersen, a jazz concert promoter and civil engineer by training who harbors a love of architecture.

He notes that the Aventine hotel, sporting club and office building complex influenced surrounding development, notably the Renaissance residential and retail space, the North University library and Illumina headquarters.

It also became a public event landmark as the site of a jazz festival for years and an annual “Times Square West” New Year’s Eve celebration that, when the millennium dawned, was broadcast live on CNN and FOX TV networks. “The Hyatt Aventine is not just a hotel — it is a location,” he argues.

But the new color, Pedersen maintains, takes the hotel from San Diego Architectural Foundation “Orchid” award winner in 1990 to “Onion” status.

“I believe Mr. Naiman and, specifically, Michael Graves would have never agreed to allow the current ‘white washing’ and removal of the iconic and stunning exterior treatments that went into this work of art,” Pedersen protested in a recent note to city senior planner Katie Witherspoon.

It isn’t the paint job, per se, but the potential ramifications of the damage to a Michael Graves building that bother Pedersen. He complimented the interior remodeling as looking “fresh and contemporary to meet the market demand. My only issue is the exterior.”

The 16-story hotel has had numerous owners. It and the former sporting club were sold last year to Hong Kong-based Gaw Capital, a private equity fund manager focused on real estate. Gaw has embarked on a $15 million renovation with the help of Hyatt, which manages the property. In their view, they are giving the property a much overdue face-lift.

But do you update the Roman coliseum? asks Pedersen. Do you repaint Mona Lisa’s smile?

“Over the last 30 years there really has been no change whatsoever to the outside of building,” explained hotel General Manager David Lockard. With all the reinvestment by Gaw in the hotel’s meeting space and its redesign of the market, lobby and public spaces, they felt compelled “to match that on the outside of the building as well.”

To the right of the recently repainted Hyatt Regency La Jolla hotel is the rotunda and office complex in the original colors.

To the right of the

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Hyatt (H) to Boost Presence in Portugal With New Andaz Hotel

In a bid to strengthen its portfolio across Southern Europe, Hyatt Hotels Corporation’s H affiliate recently entered into a management agreement with Feuring Hotel Lissabon GmbH & Co. KG to launch the first Andaz hotel in Lisbon. The company expects to open the property by 2024.

Notably, this marks the second Hyatt-branded hotel in Lisbon (after the planned opening of Hyatt Regency Lisbon in 2022) and the sixth Andaz property in the European region. It also joins the likes of Andaz Munich Schwabinger Tor, Andaz Vienna Am Belvedere, Andaz London Liverpool Street, Andaz Amsterdam Prinsengracht and Andaz Prague, which are scheduled to open in 2022.

Located at Lisbon’s Baixa district, the hotel comes with five separate buildings that include former offices of Banco Portugues de Investimento. Notably, the central building comprises 169 guestrooms surrounded by four satellite buildings that offer a variety of private suites. Meanwhile, the hotel offers a rooftop restaurant and bar, Andaz Lounge, spa, fitness centre, and Andaz Studio events spaces for corporate and social events.

In this regard, Nuno Galvão Pinto, regional vice president development Europe, Hyatt stated, “As we continue to prioritize thoughtful growth in places that matter most to our guests, World of Hyatt members and customers, we look forward to introducing the Andaz brand to Lisbon and expanding our brand footprint in Portugal.”

Increased Focus on Expansion

Hyatt has been consistently looking to expand presence worldwide.

The company has expansion plans in the Asia Pacific, Europe, Africa, the Middle East and Latin America. It is also likely to expand in Australia, Brazil, Germany, the United Kingdom, Indonesia, Japan, Mexico, Saudi Arabia, Singapore, Thailand, the Netherlands and other international markets.

Price Performance

Shares of the company have plummeted 39.5% compared with the industry’s decline of 27.9%. The dismal performance can be primarily attributed to the coronavirus pandemic. This along with related travel restrictions and other containment efforts have been affecting the company. The company’s RevPAR has also declined significantly due to the same. Meanwhile, earnings estimates for 2020 have moved down over the past 30 days, depicting analysts’ concern over the stock’s growth potential.

Hyatt — which shares space with Hilton Worldwide Holdings Inc. HLT, Choice Hotels International, Inc. CHH and Marriott Vacations Worldwide Corporation VAC in the Zacks Hotels and Motels industry — has a Zacks Rank #5 (Strong Sell) at present.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who

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Hyatt, Marriott, Hilton, other hotels ask Trump for funding

Few industries have been as hard hit by the COVID-19 pandemic than the hospitality business, and now hotel executives are asking President Donald Trump for help.

In a new letter—signed by everyone from leaders at Hyatt, Marriott, Best Western, and Hilton to small, local hotel owners to trade groups—industry representatives request that he direct the U.S. Treasury Department to modify the rules of Main Street Lending Program, which the Federal Reserve created to help small and medium-size businesses that were in good financial shape before the coronavirus pandemic.

“To date, only a small fraction of $600 billion in available loans have been utilized while the remaining funds—which are so desperately needed by industries like ours—sit idle and go unused,” the letter reads.

Eighty-eight people signed the letter, which says the hotel industry supported 8.3 million jobs before the pandemic and contributed $660 billion-plus to the country’s GDP.

It also points out that 60% of hotels are small businesses and close to 50% are minority-owned. Because of the pandemic, 30% of hotel workers have been furloughed or laid off and according to American Hotel & Lodging Association research, more than two-thirds say that if the situation continues as is, they’ll be unable to last more than another six months.

“Mr. President, we believe you have the power to call for immediate modifications to the MSLP to increase participation and help thousands of businesses that have been crippled by the pandemic through no fault of their own,” the letter says.

Treasury Secretary Steven Mnuchin and Fed chairman Jerome Powell are CCed.

Source Article

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Queens’ Resorts World Casino NYC announces Hyatt Regency JFK hotel to open next year

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Resorts World Casino New York City will increase its profile as a vital economic engine in southeast Queens early next year when it opens a new $400 million, four-star hotel, according to its parent company Genting Americas.

The Hyatt Regency JFK, an eight-story, 400-room, four-star hotel will feature residential-inspired guest rooms and premium suites, as well as new restaurants, state-of-the-art conference and meeting spaces, retail options and additional gaming areas.

“Hyatt’s global brand recognition will give Resorts World an even greater opportunity to tap into the travel and tourism market worldwide and showcase our unparalleled hospitality, gaming, dining and entertainment offerings,” Genting Americas East President Bob DiSalvio said. “We are proud to work with such an iconic brand as we move NY forward, and we are excited that our guests will soon be able to enjoy an integrated casino resort hotel experience right here in Queens.”

This development will bring the total investment of RWNYC to more than $1.1 billion since opening in October 2011, after Genting spent more than $700 million to enhance the existing Aqueduct grandstand to become a leading entertainment destination.

The hotel addition is estimated to create more than 500 well-paying careers for New Yorkers and provide additional revenue for New York State’s Lottery Education Fund. RWNYC has already generated nearly $3 billion for New York’s public schools.

“This hotel creates job opportunities for hundreds of the borough’s residents and is an important step in improving the gaming experience in Queens,” said state Senator Joseph Addabbo, who serves as chairman of the NYS Racing, Gaming and Wagering Committee. “Resorts World Casino New York City is doing its part to show tourists there is more to New York City than just Manhattan. I look forward to more people exploring the borough I’ve called home my entire life.”

The $400 million hotel and amenities investment has long been part of Genting’s vision of bringing an integrated resort, popular in destinations such as Las Vegas and Singapore to New York City. The integrated resort will seamlessly feature a variety of non-gaming amenities to complement the most innovative gaming products and entertainment offerings, allowing guests of all interests and budgets an experience that fits their personal tastes.

“Resorts World Casino New York City’s partnership with Hyatt is a welcome addition to the Fifth District, further adding to the thriving economic development in southeast Queens,” Congressman Gregory Meeks said. “Hyatt’s hospitality will help service the substantial tourism that comes through JFK, which serves as not just a hub to New York City but the world. I congratulate Resorts World New York and Hyatt and look forward to seeing the jobs created in the community as a result of this partnership.”

Beyond redefining the hotel experience for leisure guests, the new hotel will apply a high-touch experience for meetings and events, with 5,000 square feet of total function and state-of-the-art meeting facilities all backed

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