Hyatt Hotels Corporation
) recently announced the expansion of its hotel portfolio in Europe
and China under the Hyatt Place brand. It has inked an agreement
with Jersan LLC - a company that develops and owns hotels and
engages in tourism activities - to develop a Hyatt Place hotel in
Jermuk, Armenia which is well known for its natural beauty and
cultural heritage sites. The company also announced the opening of
another Hyatt Place hotel in the Dongmen district of Shenzhen.
Set to open in 2015, Hyatt Place Jermuk will be the second Hyatt
branded hotel in Armenia after the recently opened Hyatt Place
Yerevan. Located at the center of the Jermuk resort, this hotel
features 88 rooms, a restaurant, a pool, a fitness center and a
meeting space spread over an area of 1,800 square feet.
Jermuk Resort is a mountain resort town popular for its thermal
water spas. It is currently being redeveloped by the Armenian
government. Located close to the Armenian capital, Yerevan, Jermuk
plays host to various international chess events. The hotel's
convenient and strategic location justifies the company decision to
consider this region again.
The other Hyatt Place hotel located in the heart of Shenzhen
Dongmen will mark the entry of the brand in China. This hotel is
located in close proximity to the shopping area and other key
destinations of the city. The hotel features 144 rooms, a bar, a
fitness center and a meeting space. The convenient location
accompanied with modern amenities is expected to draw traffic.
Hyatt Hotels is consistently trying to expand its global presence.
The company has its hotels worldwide including locations in China,
India, Latin America, Europe, the Middle East, and the United
States. Recently, the company inked an agreement with Badriah
Investments B.V. to develop a hotel in Baden-Baden, Southwestern
Hyatt currently carries a Zacks Rank #3 (Hold). Better-performing
stocks in the hotel industry include
Intercontinental Hotels Group plc
Marriott Vacations Worldwide Corp.
Wyndham Worldwide Corporation
). All these stocks carry a Zacks Rank #2 (Buy).
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