In a bid to expand in the lucrative Asian market, leading
global hotel chain
Hyatt Hotels Corporation
) recently decided to open a Hyatt Place branded hotel, Hyatt
Place Seoul in Seoul, South Korea. In this regard, Hyatt inked a
management agreement with KY Development Co., Ltd.
The new five-star property, to be opened in 2016, will mark
the debut of the Hyatt Place brand in Seoul as well as in the
South Korean and Northeast Asian region. Hyatt already owns and
operates three other properties under the Park Hyatt, Grand Hyatt
and Hyatt Regency brands in Seoul.
Seoul, the capital of South Korea, is one of the leading
tourist destinations. The city is a key commercial, technology
and entertainment hub and home to the renowned electronics
companies like, Samsung Electronics Co., Ltd. and LG Corporation.
Moreover, as a result of the economic boom that Seoul is
witnessing, the hotel industry seems to be gearing up.
Ideally situated in Dongdaemun, Hyatt Place Seoul is near to
the Gangbuk district. KY Development Co. is constructing a
shopping mall, Dongdaemun Design Plaza & Park (DDP), just
beside the hotel. We believe the strategic position, wide range
of amenities offered at the 204-room hotel and its contemporary
ambience will create a strong guest base, going ahead.
Hyatt set a trend in hotel designs with Hyatt Place, which
spread its operations globally with 184 hotels since its launch
in Jun 2006. In its 7-year long journey, Hyatt Place has gained
immensely from its affordable pricing and guest satisfaction
scores, reflecting the brand's strength and growing
Several other hoteliers including
Intercontinental Hotels Group plc
Starwood Hotels & Resorts Worldwide Inc.
) have introduced similar contemporary lifestyle brand concepts
like Hyatt Place. These brands include Hotel Indigo and Aloft by
Intercontinental Hotels and Starwood, respectively.
Hyatt currently carries a Zacks Rank #3 (Hold). Another hotel
stock worth looking into is
Marriott Vacations Worldwide Corp.
), which carries a Zacks Rank #1 (Strong Buy).
HYATT HOTELS CP (H): Free Stock Analysis
STARWOOD HOTELS (HOT): Free Stock Analysis
INTERCONTL HTLS (IHG): Free Stock Analysis
MARRIOT VAC WW (VAC): Free Stock Analysis
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