Consistent with its expansion activity, Chicago,
Illinois-based leading global hotel chain
Hyatt Hotels Corporation
) recently declared the inauguration of a Hyatt Regency branded
hotel, Hyatt Regency Qingdao in Qingdao, China. The opening marks
the debut of Hyatt Regency brand in the region.
Strategically positioned at Laoshan district, one of the most
important economic, business and entertainment hubs in Qingdao,
the new hotel lies in proximity to Shandong Peninsula and is
adjacent to Shi Lao Ren Beach. The Qingdao city is well known for
its local cuisine, cultural and historical background.
Hyatt Regency Qingdao features 439 rooms, which includes 25
suites along with various other amenities. The hotel also
comprises northern Chinese cuisine restaurant, spa and fitness
center facilities. The new property is considered as the first
luxury urban resort in northern China.
The Hyatt Regency is the vivacious brand of Hyatt Hotels and
aims to attract both the business and leisure groups. The hotels
are mainly located in urban, suburban, airport, convention and
resort destinations across the world.
In November 2012, the company declared the debut of a Hyatt
Regency branded hotel in Sukhumvit, Bangkok, in collaboration
with a local real estate firm Grande Asset Hotels and Property
Public Company Limited. The new hotel, named Hyatt Regency
Bangkok, is slated to open for business in 2017. It will be the
first Hyatt Regency branded hotel in Bangkok, Thailand.
These openings were in line with the company's strategy to
expand in the emerging markets.
Hyatt Hotels' major rivals,
Starwood Hotels & Resorts Worldwide Inc.
Marriott International Inc.
), are also expanding their Chinese portfolios continuously. In
September, Starwood launched its Sheraton brand with the opening
of the Sheraton Fuzhou Hotel in Fujian province, China.
Hyatt Hotels Corporation carries a short-term Zacks Rank #2
(Buy). We currently have a long-term Neutral recommendation for
HYATT HOTELS CP (H): Free Stock Analysis
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