In a bid to expand in the lucrative Japanese market,
Hyatt Hotels Corporation
) announced that it has agreed to open Andaz Tokyo, the first
Andaz hotel in the region in collaboration with Mori Building
Co., Ltd. The new five-star property is due to be opened in the
summer of 2014.
Andaz Tokyo's location at Toranomon (Minato Ward of Tokyo) is
a strategic one as it falls between Shiodome district and the
Akasaka and Roppongi areas. Toranomon is considered to be an
upcoming major business center hub of Japan. Tokyo Metropolitan
Government considers it as a Special Zone for Asian Headquarters.
Andaz Tokyo, with its basic and modern amenities, will aim to
cater to the needs of the multinational companies situated in
Toranomon. The hotel with 164-guest rooms and suites will also
offer the luxury of spa and restaurant facilities.
Andaz is one of the leading brands of Hyatt Hotels and it is
currently on a high growth trajectory. As of now, the company own
nine hotels under the Andaz brand across four countries.
Apart from the new hotel, there are three other Hyatt-branded
hotels in Tokyo and Hyatt already owns eight hotels in Japan. The
company has already opened a five-star hotel, Grand Hyatt Tokyo
in Japan in association with Mori Building affiliates.
On December 12, Hyatt Hotels had announced the debut of a
Hyatt Place branded hotel in Bangkok in collaboration with local
real estate firm Pioneer Property Company Limited (PPC). The new
property - Hyatt Place Bangkok, Sukhumvit, is slated to open for
business in 2017. Now, the launch of Andaz Tokyo will
further strengthen the company's position in the growing Asian
Separately, Hyatt Hotels' major rivals including
Starwood Hotels & Resorts Worldwide Inc.
Marriott International Inc.
) are also trying to extend their presence in Asia.
We presently have a long-term Neutral recommendation on the
company's stock. However, the company carries a Zacks #4 Rank
(short-term Sell rating).
HYATT HOTELS CP (H): Free Stock Analysis
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