Home Business-newBusiness Hyatt to open nearly 200 hotels in Mexico and other hotspots

Hyatt to open nearly 200 hotels in Mexico and other hotspots

by Yucatan Times
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Hyatt hotels are checking into some new cities.

The company said in a press statement that it plans to open nearly 200 more hotels in and outside the United States by 2022. And some of the standout places to receive the building include California, New York and Texas, as well as Canada and Mexico.

New York, which already has a number of Hyatt-branded hotels, will get two more, according to the statement. The Hyatt Centric, a full-service lifestyle hotel is set to open in Manhattan in March 2020, and the Thompson New York will follow that, debuting in the city’s Central Park neighborhood at some point in 2021.

TickerSecurityLastChangeChange %
HHYATT HOTELS86.08-5.68-6.19%

Hyatt also has existing buildings in California, Texas, Canada and Mexico, but it will open more as those areas continue to be a priority for Hyatt and prospective developers.

Nearly 100 hotels opened in California in 2019, which broke a record for openings in a single year, according to commercial real estate website Bisnow.com. Canada had a record 66 percent occupancy rate in 2018, according to the Canadian Hotel Investment Conference. And recent tourism analytics show the number of international travelers to Mexico hit 98 million in 2018.

“Hyatt remains focused on thoughtfully growing our full service and select service portfolio of brands in the Americas region — and growing and running our core hotel business: the development, management and franchising of full service and select-service hotels, while being best-in-class,” Pete Sears, Hyatt Americas group president, said in the statement. “Hyatt’s Americas growth through 2022 further signals strength in our brand among owners, customers, and guests across the largest region within Hyatt’s global portfolio.”

The hotel chain projects openings will grow its regional brand presence by 33 percent and the new building will join an existing portfolio of 585 buildings operating in North America.

Hyatt’s stock is up 23 percent on the year.

Source: Press release issued by Hyatt

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