Consistent with its expansion strategy, a leading global hotel
Hyatt Hotels Corporation
), recently declared that it will include four properties with
1,700 guestrooms under its Hyatt brand in France. In this regard,
an affiliate of Hyatt and Constellation Hotels Holding Ltd. has
entered into a management contract.
Under the terms of the agreement, four hotels based in various
popular destinations in France including Paris, Boulevard de la
Croisette in Cannes and Promenade des Anglais in Nice will be
rebranded into the Hyatt brand. These properties, which are
slated to unveil in April 2013, will undergo a complete
Post conversion, Palais de la Mediterranée Hotel and Casino,
Concorde Lafayette and Hotel Martinez will be running as Hyatt
Regency Nice Palais de la Mediterranée, Hyatt Regency Paris
Etoile and Grand Hyatt Cannes Hotel Martinez, respectively. While
the fourth property, Hotel du Louvre, after the completion of its
restoration, will operate under the Andaz brand.
Hyatt owns several properties in France including Park Hyatt
Paris Vendome, Hyatt Paris Madeleine and Hyatt Regency Paris
Charles de Gaulle. With this proactive advance, the company will
be able to further enhance its European portfolio.
Hyatt Hotels operates under various brand names such as Hyatt,
Park Hyatt, Andaz, Grand Hyatt, Hyatt Regency, Hyatt Place and
Hyatt House. The company recently introduced a hotel, Hyatt Place
Corpus Christi, under its Hyatt Place in Corpus Christi,
Hyatt, which is scheduled to release its fourth quarter 2012
results on February 13, 2013, currently carries a Zacks Rank #3
(Hold). Another hotel company
Starwood Hotels & Resorts Worldwide Inc.
) recently reported fourth-quarter 2012 adjusted earnings from
continuing operations of 70 cents, breezing past the Zacks
Consensus Estimate by a nickel, but slightly below the year-ago
level of 71 cents. It carries a Zacks Rank #2 (Buy).
Some other hotel companies worth a mention include
Choice Hotels International Inc.
The Marcus Corporation
). Both carry a Zacks Rank #1 (Strong Buy).
CHOICE HTL INTL (CHH): Free Stock Analysis
HYATT HOTELS CP (H): Free Stock Analysis
STARWOOD HOTELS (HOT): Free Stock Analysis
MARCUS CORP (MCS): Free Stock Analysis Report
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