An affiliate of Chicago, Illinois-based
Hyatt Hotels Corporation
) recently inked a management agreement with Societe
d'Aménagement et de Promotion de la Station de Taghazout (SAPST)
to unveil a hotel, Hyatt Place Taghazout, under Hyatt Place-brand
in Taghazout, Morocco.
The new hotel, which is scheduled to open in late 2014, will
be the first Hyatt Place-branded hotel in Morocco. However, the
company already owns a Hyatt Regency-branded hotel, Hyatt Regency
Casablanca in Morocco.
SAPST will be the developer and owner of this new hotel. The
property will feature 150 luxurious guest rooms along with
various other amenities. Its location - in the Taghazout Bay -
and close proximity to Agadir city on Morocco's Atlantic Coast
will enable the hotel to attract business as well as leisure
Hyatt Place Taghazout will include a Moroccan spa, a retail
center, an 18-hole golf course, a golf club house, as well as a
Apart from the new hotel, there is another Hyatt-branded hotel
under construction in Morocco - Park Hyatt Marrakech, which is
slated to open in 2013.
Hyatt Place is an upscale select service brand of Hyatt Hotel,
which offers wide range of services in a high-tech and modern
environment. Earlier this month, the company opened two Hyatt
Place-branded hotels - Hyatt Place Los Angeles/LAX/El Segundo in
El Segundo, United States and Hyatt Place Hampi in Karnataka,
Hyatt Hotels also plans to open a Hyatt Place-branded hotel in
Bangkok - Hyatt Place Bangkok, Sukhumvit in collaboration with a
local real estate firm, Pioneer Property Company Limited (PPC).
The new property is slated to open for business in 2017.
Hyatt Hotels' major rivals,
Starwood Hotels & Resorts Worldwide Inc.
Marriott International Inc.
), are also expanding their portfolios worldwide. Last week,
Starwood Hotels declared that it is set to unveil an Aloft
property named Aloft Tampa Downtown in Tampa, Florida in
association with the Liberty Group.
Hyatt Hotels Corporation carries a Zacks #4 Rank (short-term
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