In a bid to expand in the lucrative Chinese market, leading
global hotel chain
Hyatt Hotels Corporation
) recently decided to open a Grand Hyatt branded hotel, Grand
Hyatt Changsha in Changsha, Hunan Province. In this regard, Hyatt
inked a management agreement with Huayuan Property Co., Ltd. The
opening marks the debut of Grand Hyatt brand (high-end upscale
brand) in Changsha.
China is all set to bring about a recovery in global tourism,
and by 2020 it is expected to be the world's leading travel
destination. In order to tap this attractive opportunity, the
Zacks Rank #3 (Hold) company is now venturing into various
untapped but economically viable Chinese cities.
We believe the opening of the latest 324-room property is a
strategic fit as Changsha is a major commercial center in central
China. The city is a key entertainment and trading hub of the
country, which boosts business as well as leisure travel in the
Several other hoteliers including
Wyndham Worldwide Corp.
Starwood Hotels & Resorts Worldwide Inc.
Marriott International Inc.
) have made their presence felt in this region.
Grand Hyatt Changsha is strategically positioned at a
268-meter-high complex, The Central, and is in close proximity to
Xiangjiang River in downtown Changsha. The hotel will also offer
restaurants, swimming pools, a spa and a fitness center.
Hyatt set a new trend in hotel designs with its luxury brand,
Grand Hyatt. The brand rides on a high growth trajectory and is
currently operating 41 properties worldwide with as many as eight
hotels exclusively in China.
HYATT HOTELS CP (H): Free Stock Analysis
STARWOOD HOTELS (HOT): Free Stock Analysis
MARRIOTT INTL-A (MAR): Free Stock Analysis
WYNDHAM WORLDWD (WYN): Free Stock Analysis
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