Similar to its global expansion strategies,
Hyatt Hotels Corporation
) is looking to expand its footprint domestically. The hotelier
recently announced the opening of Hyatt Place Flushing/LaGuardia
Airport. This marks the debut of the Hyatt Place-branded hotel in
Connecticut-based Meyer Jabara Hotels will manage the Hyatt Place
Flushing/LaGuardia Airport, while New York-based real estate
development firm, F&T Group was in charge of its development.
In fact, the hotel is part of a development project named One
Fulton Square, comprising retail, hotel, office, and luxury
residential condominiums, owned and developed by F&T Group.
The 168-room hotel is in close proximity to the LaGuardia Airport,
one of the busiest airports in New York. The hotel will offer
amenities like modern, fully-equipped gyms, yoga studio and a
rooftop swimming pool. Also, there will be a savvy high-tech
meeting space including a spacious gallery for guests to relax and
hold casual meetings. We believe such facilities along with the
location will draw both leisure as well as business travelers to
In fact, Flushing is one of the most crowded downtown areas in New
York City. Additionally, the thriving economy of the region has
resulted in a rise in demand for tourism. Hyatt, in our view, is
looking to tap in on that demand for hotels, both from
international and domestic travelers.
Hyatt currently carries a Zacks Rank #3 (Hold). Better-ranked
stocks in the same sector include
Wyndham Worldwide Corporation
Intercontinental Hotels Group plc
Marriott Vacations Worldwide Corp.
). All these stocks sport a Zacks Rank #2 (Buy).
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