Global hoteliers are gradually expanding their footprint in the
emerging markets of Asia to tap into the increasing demand for
hotels in the region. In this regard,
Hyatt Hotels Corporation
) announced the debut of its Andaz brand in Japan, with the opening
of Andaz Tokyo Toranomon Hills.
This is the 12th Andaz branded hotel globally and joins Park Hyatt
Tokyo, Grand Hyatt Tokyo and Hyatt Regency Tokyo, reflecting the
hotelier's increasing presence in the growing Tokyo market.
Andaz Tokyo Toranomon Hills will occupy 47-52 floors of the
52-story Toranomon Hills tower - a progressive multi-use high-rise
for high-end businesses. Located between the Tokyo Tower and
Imperial Palace, the hotel offers easy access to major tourist
attractions such as the Ginza shopping district among other
attractions. In our view, proximity to the city's important
destinations will be a major crowd-puller for the hotel.
The 164-room hotel features an array of restaurants and a bar
including the main dining venue, Andaz Tavern, which is located on
the 51st floor and offers local as well as international cuisines.
The hotel also has a Rooftop Bar and an open-air, roof-protected
terrace overlooking the Tokyo Bay. Additionally, the hotel offers
venues for events, a modern Spa, and a fully-equipped 24-hour gym.
The Toranomon region has joined the race along with Otemachi and
Marunouchi to become one of the most popular business districts of
Tokyo. The drive to lift the ban on casinos and preparations for
the 2020 Olympic Games are improving the business and economic
scenario of the city, in turn, boosting domestic and international
tourism. Occupancy rates for city hotels across Japan rose for to
75% in 2013 - the second year of growth -, according to the Japan
Tourism Agency. In our view, Hyatt seeks to cash in on the high
demand for hotels with its recent opening.
Hyatt currently carries a Zacks Rank #3 (Hold). Better-ranked
stocks in the same sector include
Wyndham Worldwide Corporation
Hilton Worldwide Holdings Inc.
Marriott Vacations Worldwide Corp.
). All these stocks carry a Zacks Rank #2 (Buy).
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