Hyatt Hotels Corporation H announced the addition of Hyatt Regency Baytown-Houston and Hyatt Regency Conroe to its brand portfolio in Texas. This marks the brand’s 13th property in the region.
Nestled in the heart of Baytown, Texas, Hyatt Regency Baytown-Houston stands as the city’s largest and only waterfront hotel. This seven-story hotel boasts 208 modern guestrooms offering impressive views of the Houston Ship Channel, marina, or the Fred Hartman bridge.
Hyatt Regency Conroe is situated amid the serene tall pines of Texas Piney Woods, offering 250 well-appointed guestrooms, including 13 premium suites with flexible workstations. The hotel presents Avenue A, a lobby bar and lounge, serving locally-inspired cocktails and small plates and Conroux, a full-service restaurant celebrating the vibrant flavors of Texas Gulf cuisine with a touch of Vietnamese influence.
More Focus on Expansion
The company continues to expand its presence to drive growth. During the first quarter of 2023, 28 new hotels (or 5,128 rooms) joined Hyatt’s system. As of Mar 31, 2023, Hyatt had a pipeline of executed management or franchise contracts of approximately 580 hotels (or 117,000 rooms).
Hyatt is also consistently trying to expand its presence worldwide and has expansion plans in Asia-Pacific, Europe, Africa, the Middle East and Latin America. Expansion in these markets should help the company gain market share in the hospitality industry, thus boosting business.
The company announced its plan to expand the Independent Collection brands’ footprint by 2025. The company’s Independent Collection brands will have 11 new hotels in their portfolio by 2025. The company will open its first property in San Miguel de Allende, Mexico and the first Hyatt-branded hotel in Helsinki, Finland.
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Shares of Hyatt have increased 16.2% in the past six months compared with the industry’s growth of 5.3%. Earnings estimates for fiscal 2023 have increased to $2.65 per share from $2.62 in the past 30 days.
Zacks Rank & Other Key Picks
Hyatt Hotels currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Consumer Discretionary sector are Trip.com Group Limited TCOM and Skechers U.S.A., Inc. SKX and MGM Resorts International MGM
Trip.com carries a Zacks Rank #1 (Strong Buy). TCOM has a trailing four-quarter earnings surprise of 153.1%, on average. Shares of TCOM have gained 46.6% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for TCOM’s 2023 sales and EPS indicates a rise of 76.9% and 334.5%, respectively, from the year-ago period’s levels.
Skechers carries a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 19%, on average. Shares of SKX have increased 31.7% in the past year.
The Zacks Consensus Estimate for SKX’s 2023 sales and EPS indicates a rise of 7.8% and 32%, respectively, from the year-ago period’s levels.
MGM Resorts International carries a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 81.1%, on average. Shares of MGM have increased 14.6% in the past year.
The Zacks Consensus Estimate for MGM’s 2023 sales indicates a rise of 15.4% but EPS indicates a fall of 46.1%, from the year-ago period’s levels.
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